Criteo, Microsoft Advertising collaborate to drive retail media growth
Criteo is also exploring the potential to tap into Microsoft Advertising’s generative AI technology, such as its AI-powered Retail Media Creative Studio
Commerce media company Criteo has announced a strategic collaboration with Microsoft Advertising to boost retail media growth. Microsoft Advertising has also intended to work with Criteo as its preferred onsite media partner, the company added.
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. However, 93% of marketers worldwide cite market fragmentation as a significant challenge. Criteo and Microsoft Advertising have intended to develop a more unified buying experience for global advertisers. According to Criteo, the collaboration may empower Microsoft Advertising’s 500,000 plus active advertiser clients that operate across 187 global markets.
"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,” said Brian Gleason, Chief Revenue Officer at Criteo. "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 generative AI technology, such as its AI-powered Retail Media Creative Studio. “Together, Microsoft Advertising and Criteo can chart a new path forward for retail media, empowering the entire ecosystem with scale, simplicity, and innovation,” said Lynne Kjolso, Vice President of Global Partnerships and Retail Media at Microsoft Advertising.
The demand integration and preferred onsite collaboration are expected to roll out in the second half of 2024.
