**The Road to Cannes 2022 – Commerce: The New Cannes Conversation**
*Presented by Criteo*
In this informative video, Conor McKenna, director at LUMA Partners, discusses the growing opportunity for commerce media and its impact on digital advertising. With big players like Amazon leading the way, ecommerce sites are now offering brands the chance to reach consumers at every stage of their purchasing journey. This includes search and product advertising, as well as display and video advertising that extends off-site.
McKenna explains that the expansion of commerce media is supported by a network of businesses that help advertisers connect with their target audience. This includes software developers who assist in managing and optimizing commerce media campaigns. The data players involved, such as data clean rooms and CDPs, play a crucial role in making this network successful. Additionally, commerce platforms provide closed-loop attribution, allowing advertisers to track purchases and understand the true impact of their advertising efforts.
One company that has successfully expanded into commerce media is Criteo. With their acquisition of HookLogic in 2016, Criteo has become a leader in retail media technology. They offer a platform that enables retailers to leverage the power of commerce media to drive transactions and connect with their customers.
McKenna emphasizes that commerce media advertising offers unique benefits, including rich datasets, audience targeting, and closed-loop attribution. Advertisers can now see the direct impact of their ads on purchases, providing powerful insights and driving more efficient ad spend. This presents a significant opportunity for businesses of all sizes to optimize their advertising strategies for maximum revenue generation.
Join us in this engaging conversation as we explore the future of commerce media and its implications for the advertising industry. Watch now to gain valuable insights and stay ahead of the curve.
*Watch the video here: [The Road to Cannes 2022 – Commerce: The New Cannes Conversation](https://www.youtube.com/watch?v=video_id)*
A growing variety of ecommerce sites are selling digital advertising, giving brands a chance to reach consumers as they research what they want to buy – and follow through with a purchase.
“This really started in the retail media side of things … Amazon and other big players. They had tons of digital consumers coming to their site,” Conor McKenna, director at investment bank LUMA Partners, said in this interview with Beet.TV’s Andy Plesser.
“It started with search and product advertising, which was very easy bottom-of-the-funnel stuff for them to do,” McKenna said, “and it’s been expanding upwards into more display and video advertising and actually moving off-site as well.”
This growth is supporting a network of businesses that help advertisers connect with consumers at every stage of the purchase funnel. Those companies include developers of software that help to manage and optimize commerce media campaigns.
“In our LUMAscape, we’re really trying to cover that whole gamut of the commerce media ecosystem,” McKenna said. “There’s a huge infrastructure underneath that is the data players that allow this to work, data clean rooms, CDPs, the analytics and attribution, and … the commerce platforms themselves that actually offer up the closed-loop attribution that is so powerful in this sector.”
Criteo’s Growth Opportunity
Ad-tech pioneer Criteo — whose chief executive, Megan Clarken, spoke at the LUMA Partners Digital Media Summit — is among the companies that are expanding into commerce media as an outgrowth of its digital ad retargeting business. It acquired one of the first retail media network technology players, HookLogic, in 2016.
“They have a growing and one of the larger retail media technology provider businesses,” McKenna said. “On the retail media side of things, they’re part of the engines that power some of the largest retailers that are moving into the space.”
Commerce media advertising is somewhat similar to search and social advertising in that they all have rich datasets about consumers to help marketers with their audience targeting. Commerce media also can demonstrate how advertising drives transactions.
“They have the added benefit of closed-loop attribution,” McKenna said. “They actually see they purchased at the end and so they can tie back to customers — not a click-through to a site or intent — but actually the purchase of a good, and so that is a very powerful thing.”
You are watching “The Road to Cannes 2022 – Commerce: The New Cannes Conversation,” a Beet.TV Preview Series presented by Criteo.