NEW YORK, May 27, 2020 /PRNewswire/ -- Criteo S.A. (NASDAQ: CRTO), the global technology company powering the world's marketers with trusted and impactful advertising, today announced the launch of its first-to-market, self-service Retail Media platform. Retail media, the placement of brand-sponsored advertising within retailer e-commerce sites and apps, is growing rapidly as shopping increasingly moves toward e-commerce. Now, retailers can drive incremental revenue by providing tools that make it easy for brands and agencies to manage retail media campaigns, while also maintaining control of the shopper experience. Additionally, retailers and brands using the platform can deliver consent-based, personalized advertising without relying on third-party cookies.
"Criteo has built the technology that allows retailers and brands to better partner with one another to deliver a more relevant shopping experience and increase product sales," said Geoffroy Martin, EVP and General Manager, Growth Portfolio at Criteo. "We're thrilled to now offer a transparent-by-design platform, which enables retailers to scale their retail media businesses and makes it easier for brands to buy across retailers using standardized workflows and metrics. This will truly accelerate retail media to the next level of brand investment."
David Hutchinson, VP, Marketplace and Retailer Optimization, iProspect, added: "Retail media was already growing, but we have seen an increase of dollars flowing to it in the past two months. Brands now more than ever need the right solutions to reach and engage consumers on the websites and apps of their omnichannel retail partners, and to tie media spend to sales outcomes. Criteo's new platform provides the transparency and control we need to meet client objectives."
Retail media provides retailers with an additional revenue stream amid an increasingly competitive e-commerce market. Criteo estimates that the total addressable market for retail media is anywhere between $15 billion to $25 billion worldwide. The new platform will enable retailers to power their vendor marketing programs, to tap into different types of budgets such as search and national media, and to enable a variety of creative and targeting capabilities for brands.
The launch marks Criteo's execution on its full-funnel vision and continued diversification beyond retargeting. As Criteo continues to grow its retail media business, the platform provides brands with access to unique inventory, data and measurement capabilities.
The Criteo Retail Media platform is currently available to clients in the U.S. and Canada and is planned for release to clients in EMEA and APAC later in 2020. For more information on the new platform, visit here.
Criteo (NASDAQ: CRTO) is the global technology company powering the world's marketers with trusted and impactful advertising. 2,700 Criteo team members partner with over 20,000 customers and thousands of publishers around the globe to deliver effective advertising across all channels, by applying advanced machine learning to unparalleled data sets. Criteo empowers companies of all sizes with the technology they need to better know and serve their customers. For more information, please visit www.criteo.com.
This press release contains forward-looking statements, including statements regarding additional products and features that may be made available in the future, and other statements that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially. Factors that might cause or contribute to such differences include, but are not limited to: failure related to our technology and our ability to respond to changes in technology, uncertainty regarding our ability to access a consistent supply of internet display advertising inventory and expand access to such inventory, investments in new business opportunities and the timing of these investments, whether the projected benefits of acquisitions materialize as expected, uncertainty regarding international growth and expansion, the impact of competition, uncertainty regarding legislative, regulatory or self-regulatory developments regarding data privacy matters and the impact of efforts by other participants in our industry to comply therewith, failure to enhance our brand cost-effectively, recent growth rates not being indicative of future growth, our ability to manage growth, potential fluctuations in operating results, our ability to grow our base of clients, and the financial impact of maximizing Revenue ex-TAC, as well as risks related to future opportunities and plans, including the uncertainty of expected future financial performance and results and those risks detailed from time-to-time under the caption "Risk Factors" and elsewhere in the Company's SEC filings and reports, including the Company's Annual Report on Form 10-K filed with the SEC on March 2, 2020, as well as future filings and reports by the Company. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.