Fujinaka will work to drive the regional retail media ecosystem and deliver value to Criteo’s customers and partners
Criteo has expanded its offering Criteo retail media solution across six markets in Asia Pacific (APAC). While it was first launched in Japan by the end of 2019, the Criteo retail media solution is now available in five more markets, including Korea, Australia, South-East Asia, Taiwan and India. Meanwhile, Criteo has appointed Taro Fujinaka as managing director, Retail Media, APAC. In this role, Fujinaka will work to drive the regional retail media ecosystem and deliver value to Criteo’s customers and partners as they continue to utilise Retail Media.
As brands prepare for the post-cookie world, retail media will play a pivotal role in empowering brands who seek new addressable media opportunities in the evolving identity landscape, Fujinaka said. “Combining a highly differentiated ad inventory with unique first party data, we are confident that its availability and the strengthened capacity of our regional team will help with driving the industry forward in the years to come,” he added.
Criteo’s retail media solution is powering over 100 retailers and 120 agency customers, the company claimed in a statement. It is expected to drive nearly $700 million in media monetisation for retailers and $3.3 billion in product sales for brands in 2021. The solution enables retailers and marketplaces to generate new revenue from their brand partners.
“We were quick to expand our retail media offerings here in Asia, a key growth market for Criteo. In Q1 this year, our retail media business grew 122% year-over-year, and we are excited to see increasing demand for our technology, especially here in Asia. A key component of our commerce media strategy, retail media is also an addressable market expected to grow quickly. According to McKinsey, retail media is a $17 billion market today, excluding Amazon and China, and will grow at a 22% CAGR to $32 billion in 2024,” Geoffroy Martin, EVP and general manager, growth portfolio, Criteo said.