Mumbai: Criteo, the global technology company that provides the world’s leading commerce media platform, on Tuesday announced its expansion to offer retail media solutions across six markets in the Asia Pacific region (APAC).  Since its regional launch in Japan in 2019, the Criteo retail media solution is now available in five more markets, including Korea, Australia, South-East Asia, Taiwan, and India.

The company appointed Taro Fujinaka as managing director, retail media, APAC. In this role, Taro 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.

The solution enables retailers and marketplaces to generate new revenue from their brand partners. Brands can also reach shoppers at the digital point of sale and have complete visibility into the impact of media spend on product sales. This has proven instrumental in providing an optimal user experience, with shoppers able to receive relevant ads on the retailers’ own websites, while they shop conveniently online, said the company in a statement.

“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 per cent year-over-year, and we are excited to see increasing demand for our technology, especially here in Asia," said Criteo's EVP & general manager, growth portfolio, Geoffroy Martin. "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 $17B market today, excluding Amazon and China, and will grow at a 22 per cent CAGR to $32 billion in 2024."

Since joining the team in March, Taro has worked with the team to drive awareness and adoption across the region. “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. 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,” said Taro.

Globally, Criteo’s retail media solution powering over 100 retailers and 120 agency customers, and 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 company said.