Criteo S.A. (NASDAQ: CRTO), the global technology company that provides the world’s leading Commerce Media Platform, today announced a new milestone: leading consumer electronics retailer, Best Buy, a longstanding Criteo customer, has signed on to the company’s retail media ecosystem and platform. As of August, advertisers can use Criteo’s cross-retailer, self-service platform to reach BestBuy.com and BestBuy.ca shoppers in the U.S. and Canada. Through sponsored products, the platform will help customers further discover and purchase the products they need.
“The full range of tech products and services that we provide to customers have helped us build relationships with them that extend well before and after they use their technology,” said Frank Crowson, Chief Marketing Officer at Best Buy. “First-party data helps us enhance the customer experience both in stores and on BestBuy.com. By joining Criteo’s retail media platform, we’ll be able to better serve our customers with relevant content we know they’re looking for when shopping online.”
As consumers continue to flock to e-commerce websites, Criteo’s retail media platform enables brand marketers and agencies to reach consumers across leading e-commerce sites, while executing campaigns with full transparency and control. Fueled by Criteo’s Artificial Intelligence, Criteo’s retail media ads conform to the same targeting and personalization as retailers’ organic product placements, ensuring a seamless and relevant shopper experience.
Today, Best Buy generates $47 billion in annual revenue. With Best Buy joining the retail media platform, Criteo will continue to power sponsored product ads for Best Buy while enabling advertisers to leverage several formats, targeting options, and flexible measurement models to address the entire customer journey.
“Having worked together since 2015, we’ve seen Best Buy continuously evolve to meet the needs of their customers and create a uniquely loyal base of shoppers,” said Geoffroy Martin, EVP and General Manager, Growth Portfolio at Criteo. “Brands and agencies see tremendous value in reaching Best Buy customers and, as part of our retail media ecosystem, advertisers have access to the most flexible tools for delivering a relevant experience.”
Retail media is a central piece to Criteo’s Commerce Media strategy, and – together with its performance marketing, audience targeting, and contextual advertising capabilities – is essential to helping marketers and media owners work together to drive trusted and impactful commerce outcomes.
For more information on Criteo’s retail media ecosystem and platform, visit here.
Forward-Looking Statements Disclosure
This press release contains forward-looking statements, including our expectations regarding our market opportunity and future growth prospects and other statements that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially. Factors that might cause or contribute to such differences include, but are not limited to: failure related to our technology and our ability to innovate and respond to changes in technology, uncertainty regarding the scope and impact of the COVID-19 pandemic on our employees, operations, revenue and cash flows, uncertainty regarding our ability to access a consistent supply of internet display advertising inventory and expand access to such inventory, including without limitation uncertainty regarding the timing and scope of proposed changes to and enhancements of the Chrome browser announced by Google, investments in new business opportunities and the timing of these investments, whether the projected benefits of acquisitions materialize as expected, uncertainty regarding international growth and expansion, the impact of competition, uncertainty regarding legislative, regulatory or self-regulatory developments regarding data privacy matters and the impact of efforts by other participants in our industry to comply therewith, the impact of consumer resistance to the collection and sharing of data, our ability to access data through third parties, failure to enhance our brand cost-effectively, recent growth rates not being indicative of future growth, our ability to manage growth, potential fluctuations in operating results, our ability to grow our base of clients, and the financial impact of maximizing Revenue ex-TAC, as well as risks related to future opportunities and plans, including the uncertainty of expected future financial performance and results and those risks detailed from time-to-time under the caption “Risk Factors” and elsewhere in the Company’s SEC filings and reports, including the Company’s Annual Report on Form 10-K filed with the SEC on February 26, 2021, and in subsequent Quarterly Reports on Form 10-Q as well as future filings and reports by the Company. Importantly, at this time, the COVID-19 pandemic continues to have a significant impact on Criteo’s business, financial condition, cash flow and results of operations. There are significant uncertainties about the duration and the extent of the impact of the virus.
Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.