RETHINK Retail’s Solution Spotlight shines a light on industry vendors and what makes them distinct.
This spotlight from Groceryshop 2021 is on Criteo, a global technology company that powers the world’s marketers and media owners with trusted and impactful advertising through the world-leading Commerce Media Platform, a suite of products that activates the world’s largest set of commerce data to drive better commerce outcomes.
To learn more about Criteo, visit: www.criteo.com
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TRANSCRIPTION:
Sherry Smith:
We work with the world’s largest retailers to help them become retail media publishers. And we also too, enable their media to be available to brands and agencies in a very large ecosystem that makes it very seamless and easy to transact.
With the changing trends in consumer behavior and certainly the shift to online shopping, retailers, more and more, are finding ways that they can leverage their valuable first-party data that’s cookie-free to reach those customers in a very personalized way. And we’ve got an opportunity to work with the world’s largest retailers like Target, Best Buy, Ulta and Costco. Just to name a few. And we’ve helped them develop their retail media programs in such a way that they can seamlessly transact with customers and help enable them on their shopping journey.
One of the challenges that retailers are faced with is that 70% of shopping carts are abandoned before they can even complete the purchase. And that is what we try to do. Is really make sure that we are building very, very targeted initiatives for retailers that help customers complete that shopping journey. That’s good for brands, that’s good for agencies, that’s good for retailers. And ultimately, it’s good for the customer.
CPG is an incredibly important category for or us. We’ve done a ton of research on billions of transactions, just to understand the shopping behavior. One thing we know for sure, online shopping is here to stay. Specifically for the CPG category.
In fact, 60% more transactions are happening online this year versus last year.
So with those insights, what we can do is help brands control the digital shelf and truly think about how they transact with customers and how we help influence that purchase journey. And they can do all of that through our platform.