Global ad-tech company Criteo is focusing on evangelising commerce media so that marketers can optimise digital advertising returns. Taranjeet Singh, managing director, SEA and India at Criteo, tells Christina Moniz about the company’s focus on the Indian market, its partnership with Flipkart, and more. Excerpts:
What are the key marketer concerns that Criteo has identified in the post-pandemic market?
I would say there are more opportunities for marketers, not concerns. The pandemic obviously accelerated digital adoption, digital media consumption and e-commerce growth across India. According to eMarketer, India is going to be the second fastest growing economy in the Asia Pacific region, based on e-commerce sales this year, just behind the Philippines. Steady double-digit growth will continue right till 2025. It is predicted that over 80% of retail e-commerce dollars will be spent via a mobile device this year. Further, we all know that India is a mobile-first country. For a marketer therefore, catching up with the rapidly changing digital landscape, adjusting to the influx of new internet users and their ever-changing, hybrid purchase behaviour will be key.
Leveraging the potential of the open internet and monetising new environments where consumers are spending more time and sharing more of first-party data, devising a commerce media strategy to drive impactful outcomes in sales and revenue are some of the areas that marketers are focusing on. This is also where partners like Criteo come in. Our priorities for 2022 and beyond include evangelising commerce media while also increasing investments towards making the open internet better.
Earlier this year, Criteo
partnered with Flipkart to launch product performance ads. How is the partnership helping advertisers?
This was a very strategic partnership for both Criteo and Flipkart. Flipkart has massive reach and Criteo has superior audience-first technology. Combining the two, we offer a remarkable capability for marketers and brands to achieve meaningful marketing outcomes across the open internet. The partnership is fuelled by Criteo’s commerce media capabilities, while Flipkart enables advertisers of any scale to deliver their full marketing goals on the open internet by leveraging its audience signals for highly relevant reach and therefore, higher campaign efficiency. We believe the partnership will take commerce media and advertising to the next level.
The company also recently launched its new video advertising solution in India. Why was that necessary?
Video is an important part of the Indian advertising ecosystem. The growing consumption on video gives marketers a great opportunity to reach consumers in a good environment. The Criteo video advertising solution helps marketers achieve measurable outcomes by superior targeting capabilities, unique audiences and access to over 600 premium video publishers. By combining Criteo’s video and performance solutions, brands can drive awareness and traffic through branded display to relevant shoppers. Our priority is to turn our assets into the world’s leading commerce media platform for brands, agencies and retailers to activate their data and optimise their sales, marketing goals and digital advertising returns.
How important is the Indian market for Criteo?
From Criteo’s perspective, India is a priority market. The Indian online advertising industry is projected to grow to $2 billion in revenue by 2024, which is massive. Commerce media is definitely growing very fast. One trend that has emerged is that large commerce retail platforms also have a significant share in the advertising consideration when it comes to media planning. Marketers are looking at building an effective, full-funnel proposition for the advertising dollars they are spending. They want to become part of the consumer’s journey and build preference for their brand. That is why today we work with nearly all the key categories in India, from personal care and home products to gaming and ed-tech companies.
From a talent standpoint, Criteo is hiring across capabilities and skill sets in the country. Earlier this year, the company announced its plans to hire around 150 engineers, data analysts, and solution architects in Hyderabad by 2024.
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