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Criteo Partners with Belk to Launch Innovative Media Network
Criteo CRTO has announced a partnership with Belk, which aims to launch the Belk Media Network to effectively connect Belk’s customers with various brands.
This alliance will empower brands across apparel, home, beauty, and accessories to bolster awareness and generate sales within Belk’s stores. Criteo’s technology will leverage Belk’s first-party data to specifically target high-income shoppers, primarily women.
Criteo Set for Growth with Expanding Offerings
Criteo plans to give brands and advertisers a competitive edge, boosting visibility and sales by activating high-intent customers at digital points of purchase on retail media.
According to a report by Research and Market, the Retail Media industry is projected to reach $231 billion by 2030, presenting strong opportunities for Criteo and Belk Media Network.
Criteo’s Commerce Yield, a platform for retailer monetization, will enable brands to enhance monetization abilities by providing real-time access to inventory and datasets for sponsored ad campaigns. Additionally, Criteo’s Commerce Max, a demand-side platform, will support closed-loop reporting to improve the retail experience for buyers.
Growing Client Base Boosts Criteo’s Market Position
Criteo’s platform now serves 2,900 brands and 225 retailers, reaching over 700 million active users daily. It faces competition from major players like Amazon AMZN, Meta Platforms META, and Alphabet GOOGL.
As a leader in open web marketing platforms, Criteo collaborates with Shopify Audiences to engage high-intent audiences alongside Meta Platforms and Alphabet.
Recently, Criteo signed a two-year agreement with Selfridges to connect customers with exclusive brands, enhancing engagement through personalized experiences.
With e-commerce continuously expanding, Criteo is well-positioned to create more advertising inventory, potentially complementing Amazon’s offerings.
Criteo’s data assets provide privacy-conscious insights, giving access to over $1 trillion in online sales projected for 2023, roughly 35% of global retail e-commerce sales, excluding China.
Additionally, Criteo has partnered with Swiggy in India to run offsite media campaigns that connect high-intent customers through OTT platforms and the open market.
Criteo Offers Promising Q3 Projections
For the third quarter of 2024, CRTO anticipates Contribution ex-TAC will be between $264 million and $268 million, representing a year-over-year growth of 8% to 10% at constant currency. Adjusted EBITDA is projected to range from $72 million to $76 million.
Looking ahead to 2024, CRTO expects Contribution ex-TAC growth of 10% to 12% at constant currency, along with an Adjusted EBITDA margin of approximately 32% of Contribution ex-TAC.
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