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Criteo collaborates with Microsoft Advertising to drive retail media growth
Criteo, the commerce media company has announced a strategic collaboration with Microsoft Advertising to bring Microsoft Advertising's extensive demand to Criteo's global network of 225 retailers.
Microsoft Advertising also intends to work with Criteo as its preferred onsite media partner, extending Criteo's monetization technology to Microsoft Advertising's retailer clients, creating an even more unified retail media ecosystem.
Retail media is one of the fastest-growing sectors in advertising and is expected to represent over $150 billion in global ad spend by 2026, according to GroupM.
But 93% of marketers worldwide cite market fragmentation as a significant challenge. Criteo and Microsoft Advertising intend to help move the industry forward by tapping into Criteo's vast network of retailers and developing a more unified buying experience for global advertisers.
This collaboration would expand the companies' longstanding relationship and is expected to bring new revenue to Criteo's retail media network partners. In turn, it would empower Microsoft Advertising's 500,000+ active advertiser clients that operate across 187 global markets to achieve stronger, measurable performance for their campaigns within a singular, unified platform.
Brian Gleason, Chief Revenue Officer, Criteo: "We're thrilled to expand our relationship with Microsoft Advertising to make it easier for brands to buy retail media and for retailers to expand demand into their media solutions. We look forward to continuing to evolve our collaboration and help drive growth across retail media."
Criteo is also exploring the potential to tap into Microsoft Advertising's leadership in generative AI and innovations, such as its AI-powered Retail Media Creative Studio, which makes it easier for advertisers to create and optimize their ad creatives at scale with the power of generative AI.
Lynne Kjolso, Vice President of Global Partnerships and Retail Media, Microsoft Advertising: "Together, Microsoft Advertising and Criteo can chart a new path forward for retail media, empowering the entire ecosystem with scale, simplicity, and innovation. We're pleased to further our integration with Criteo, a leader in retail media and performance advertising, and look forward to exploring future opportunities."
The demand integration and preferred onsite collaboration are expected to roll out in the second half of 2024.
