Criteo Partners with Belk to Boost Retail Marketing
Criteo (CRTO) announced a collaboration with Belk on Tuesday to launch the Belk Media Network, designed to connect Belk’s shoppers with various brands.
The initiative will allow brands across apparel, home, beauty, and accessory categories to increase awareness and drive sales directly within Belk’s environment.
Criteo’s technology will enhance the use of Belk’s first-party data to target affluent customers, predominantly women.
Criteo’s Strategic Advantages
Through this partnership, Criteo aims to give brands a competitive edge, enabling increased visibility and sales by engaging high-intent consumers at a critical moment in their shopping experience.
A report from Research and Market predicts that the Retail Media industry will grow to $231 billion by 2030, highlighting a promising future for both Criteo and the Belk Media Network.
Criteo’s Commerce Yield, a retailer monetization platform, will empower brands to optimize their advertising strategies with real-time access to inventory and data for sponsored campaigns.
Additionally, Criteo’s Commerce Max, a demand-side platform, will provide closed-loop reporting to enhance the shopping journey for buyers.
Growing Client Base Fuels Future Growth
Criteo’s services have gained traction among 2,900 brands and 225 retailers, reaching over 700 million active users daily. Notable competitors include Amazon (AMZN), Meta Platforms (META), and Alphabet (GOOGL).
Recognized as a leader in open web marketing, Criteo collaborates with Shopify Audiences to effectively engage high-intent audiences alongside major players like Meta and Alphabet.
Recently, Criteo entered a two-year deal with Selfridges to provide customers access to exclusive brands while personalizing their shopping experience.
The e-commerce sector is expanding, and Criteo is strategically positioned to create more advertising inventory, ultimately driving ad revenue and complementing Amazon’s offerings.
By 2023, Criteo estimates its data insights will reveal over $1 trillion in online sales, which accounts for about 35% of global retail e-commerce sales outside of China.
Moreover, Criteo has also partnered with Swiggy in India to run offsite media campaigns aimed at engaging high-intent customers through over-the-top (OTT) platforms and the broader open market.
Criteo Projects Strong Performance for Q3
Looking ahead to the third quarter of 2024, CRTO anticipates its Contribution ex-TAC to be between $264 million and $268 million, signifying a year-over-year growth of 8% to 10% when adjusted for currency effects. Adjusted EBITDA is expected to be between $72 million and $76 million.
For the entirety of 2024, Criteo expects Contribution ex-TAC to experience a growth rate of 10% to 12% in constant currency. Adjusted EBITDA margins are projected to hover around 32% of Contribution ex-TAC.
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