LAS VEGAS — Two of the big companies in the retail media space are partnering to enhance their opportunity.
Albertsons Media Collective, the retail media arm of the Albertsons grocery store chain, is hooking up with Criteo, a commerce media enablement vendor.
In this video interview with Jon Watts for Beet.TV, Brian Gleason, Global Chief Revenue Officer, Criteo, describes the arrangement.
Albertsons will use Criteo’s tech to enhance its offering to the CPG brand advertisers that buy across its ad footprint, including on-site sponsored ad offerings.
- Criteo’s Commerce Max (a self-service DSP) will be used to integrate Albertsons data like in-store sales and shopper signals.
- Criteo’s Commerce Yield will allow Albertsons to monetize its online assets and access new demand.
The combination will enable partners to access on-site inventory and manage media buys through Criteo’s platform.
Criteo also plans to expand to newer ad formats like commerce display and sponsored video in the coming months.
2024 an ‘amazing year’
U.S. retail media ad spend expected to reach $109 billion by 2027, according to eMarketer.
Gleason says 2024 is going to be “an amazing year”.
“We are in one of the fastest growing segments that’s ever been seen,” he says.
“Retail media got to $30 billion in revenue [00:02:30] faster than search and social.
“You’re seeing more and more brands start to participate with retail media…
“More retailers now are thinking about their loyalty programs and how to surface that – each retailer is sitting on a gold mine of data.”
You’re watching “The Rise of Retail Media”, a Beet.TV Leadership Series produced at CES 2024, presented by Criteo. For more videos from this series, please visit this page.