Criteo, a global commerce media company, announced a strategic partnership with Microsoft Advertising, Microsoft's digital advertising platform, with the goal of boosting the retail media segment worldwide. The collaboration will connect the extensive demand for media spaces from advertiser brands on the platform with Criteo's global network of 225 retailers. Furthermore, Microsoft intends to make Criteo its preferred onsite media partner, extending Criteo's monetization technology to its retail clients.
The retail media segment is one of the fastest-growing in advertising, with projections to generate $150 billion globally by 2026, according to GroupM estimates. However, 93% of marketing professionals see segment fragmentation as a significant challenge. The partnership between Criteo and Microsoft Advertising aims to overcome this fragmentation, offering more unified shopping experiences for global advertisers through Criteo's extensive network of retailers.
The collaboration expands the long-standing relationship between Criteo and Microsoft, with the potential to generate new revenue for Criteo's retail media partners. For Microsoft, the alliance will enable its over 500,000 active clients, across 187 global markets, to achieve stronger and measurable performance in their online advertising campaigns.
"We are excited about the expansion of the partnership with Microsoft Advertising, which will facilitate retail media activations by brands and increase demand for the media solutions offered by retailers," said Tiago Cardoso, Managing Director for Latin America at Criteo. We are excited to continue developing our collaboration and drive the expansion of retail media.
Criteo can also leverage Microsoft's leadership potential in innovations, such as the Retail Media Creative Studio platform. This platform facilitates the creation and optimization of digital ads in a scalable way, with the help of generative AI. "Together, Microsoft Advertising and Criteo will chart a new course for retail media, empowering the ecosystem with simplicity, innovation, and scalability," said Lynne Kjolso, Vice President of Global Partnerships and Retail Media at Microsoft Advertising. We are pleased to announce our integration with Criteo, a leader in retail media and high-performance advertising, and we look forward to exploring future opportunities.
The integration and onsite media collaboration between the two companies are scheduled to begin in the second half of 2024. For more information about Criteo's retail media solutions and ecosystem, click here.
