The onward march of retail media continues as Microsoft Advertising turbocharges its approach, inking a new partnership in its bid to ‘reshape’ retail media.
The move will see Microsoft expanding its longstanding collaboration with ad tech firm Criteo as it looks to “chart a new path forward for retail media”. The new partnership will, Microsoft says, overhaul the entire ecosystem with “scale, simplicity and innovation”.
Globally, retail media accounts for 16% of all advertising spend and – with projected growth of more than 11% year-on-year until 2028 – is the fastest-growing advertising channel by some margin.
It’s been a hot topic in the UK of late, with high street retailers like John Lewis quick to pick up on the benefits supermarkets have already been enjoying for some time.
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“Advertisers will be able to access a rich array of retailers with this integration through a single point of entry, driving performance growth with scale,” said Microsoft Advertising vice president of global partnerships and retail media, Lynne Kjolso.
“Retailers deserve not only to monetise their inventory but to leverage a simplified omnichannel platform and programme management.”
As part of the new partnership, Microsoft Advertising will offer advertisers and brands increased simplicity and transparency in their media buying, as well as the ability to increase reach with hyper-personalised messaging across the ad tech firm’s global network of 225 retailers.
The expanded relationship will also help to address the problem of market fragmentation across the fast-growing retail media landscape, offering a more unified ecosystem and buying experience for global advertisers.
Criteo chief revenue office Brian Gleason added: “We’re thrilled to expand our relationship with Microsoft Advertising to make it easier for brands to buy retail media and for retailers to expand demand into their media solutions.
“We look forward to continuing to evolve our collaboration and help drive growth across retail media.”
Criteo is also exploring ways it can make use of Microsoft Advertising’s leadership in generative AI, making it easier for advertisers to create and optimise their ad creatives at scale.
