Criteo GM cites retail media as a tool in enhancing customer journeys

It also drives conversion and loyalty of shoppers.

RETAIL media offers more than just revenue generation for retailers, according to Melanie Zimmermann, general manager of Global Retail Media at Criteo.

Drawing from her extensive retail background, including a decade-long tenure at Macy’s where she developed a retail media network, Zimmermann said retail media significantly enhances customer experiences and drives conversion and loyalty.

“The ad revenue is very welcome, but at the end of the day, retailers always care about a great customer experience, conversion, and loyalty of their shoppers,” she told Retail Asia.

Effective retail media strategies also stimulate larger basket sizes and inspire shoppers to discover additional products, thereby amplifying overall sales and profitability.

“There’s more than retail media accomplishes as it relates to their driving traffic to an e-commerce website to further fuel the core success, or also inspiration, I see the opportunity for driving increased average basket sizes and conversion by helping the customer discover additional products,” Zimmermann pointed out.

Moreover, retail media does not only present an ad revenue opportunity, it also presents an opportunity for increased return customers, sizeable traffic, and higher conversion rates.

Global adoption

Zimmermann attributed the rise of retail media globally to the rapid expansion of e-commerce.

She underscored how retail media provides brands with new avenues for customer acquisition and enables better measurement and personalisation of advertising effectiveness through closed-loop reporting.

The general manager said these factors collectively propel retail media as a pivotal component of modern retail strategies worldwide.

“With retail media, there is not only the opportunity to increase the personalisation and effectiveness of media, but also to measure the effectiveness looking at closed loop reporting. The combination of those factors has made retail media and global phenomenon,” she explained.

Strategic partnerships

Zimmermann also noted the critical role of collaboration with brands and technology providers in building a successful retail media network.

She suggested that retailers leverage external expertise to complement their in-house capabilities, particularly in navigating the complexities of media strategy and technology integration.

Retailers can enhance their advertising offerings and drive substantial revenue growth beyond traditional trade channels by making informed choices in technology and partnership models.

Accelerating growth for APAC retailers

On challenges faced by APAC retailers in adopting retail media, Zimmermann highlighted the opportunity for accelerated growth by leveraging global best practices and partnering with experienced providers.

“When retailers choose very experienced partners that can help the whole with the technology, but also like demand and other best practices, that's when I think the APAC retailers can really get off the ground quickly,” she said.

“The other point I would like to make is that I believe that the role of the store is particularly important in APAC, and so really the opportunity for a unified, full panel media experience is an important one to be considered in the market,” she added.

She noted that while regional nuances exist, foundational retail media strategies are universally applicable.

Zimmermann also encouraged APAC retailers to capitalise on advanced ad technologies and accumulated industry insights to expedite their entry and growth in the retail media space.

Retail AI advancements

Looking ahead, Zimmermann touted the transformative potential of AI in retail media. She predicted that AI advancements will further refine ad targeting, optimisation, and performance measurement, thereby enhancing the effectiveness of retail media strategies globally.

She noted that AI will be critical in enhancing the trends already evident in retail media, particularly in delivering personalised experiences and driving performance-based outcomes.

“We’re still in the early innings of reaching the full potential of AI, and I expect that AI will be critical in the future,” she said.