In the age of e-commerce, big data analysis is crucial for retailers - GM, Criteo India
Siddharth Dabhade says Criteo’s technology allows brands to engage with shoppers, create relevant experience on retail apps, thereby driving sales and profits
Criteo, a global performance marketing technology company, enables e-commerce companies to leverage large volumes of data to efficiently and effectively engage with the customers.
According to Siddharth Dabhade, General Manager, Criteo India, “The Indian market has completely shifted to mobile, especially the retail vertical. Now, almost 75 per cent transactions are happening online. Earlier it used to be only 34 per cent.” The other development which has taken place is that online players are going offline and offline are catering to online space because they have realised they can’t rely on a particular channel for business.
India’s e-commerce sector is expected to grow by 17 per cent in gross merchandise value (GMV) at $38.5 billion during the financial year 2018, as per NASSCOM’s outlet for the year.
With the ever-increasing internet penetration; mobile retail and shopping apps are becoming the new age trend in the Indian retail market, states a study by Criteo.
Dabhade believes that retail market has become cluttered and brands need ‘Scale and Personalization’ to compete on an equal footing with their competitors. Criteo’s technology allows brands to engage with shoppers, creating a relevant experience on both retail apps and third-party platforms, thereby directly driving sales and profits.
The increasing use of smartphones is creating a benchmark for brands to spend in mobile app optimisation and build a target marketing strategy to enhance mobile shopper engagement, which leads to increased sales.
Dabhade chatted with exchange4media and explained why their Commerce Marketing Ecosystem (CME) is a boon for stakeholders and with time, how advertisers’ relations in the Indian market can become robust.
Right Planning and Execution allows us to be on top
In the age of e-commerce, the big data analysis has become very crucial for retailers and brands. Their focus is to identify the consumer’s shopping behaviour trends and personalise their online ads. Senior marketing leaders are fully aware of the data divide and the data deficit that this disruption has shaped. In fact, almost four out of five of those surveyed in our research with Forbes, view customer data as the core part of their business strategy and have been investing in collecting and using data across channels and phases of the shopper’s journey.
In responding to all the challenges faced by retailers and brands in the e-commerce world, Criteo has introduced Commerce Marketing Ecosystem (CME) which is a network of tens of thousands of retailers, brands and publishers, centred on integrated marketing technology. Criteo CME holds a massive pool of granular shopper data across billions of shoppers worldwide and is constantly expanding.
Existing relationships with advertisers in the Indian market
Criteo serves verticals like retail, travel, classifieds, BFSI and auto. We have been very successful in providing value through our retargeting solutions. The brand is now expanding with Criteo Audience Match which helps align advertiser’s CRM strategies. For example, if an advertiser wants to target consumers who had bought during the last seasonal sale, this can be done through Criteo Audience Match.
Criteo also brought in a co-marketing solution which helps retailer and brands to use Criteo technology to target the audience at the lower funnel. Mobile app retargeting is giving very strong results. For example, in the case of Nykaa, Criteo achieved 7.5x increase in sales, 54 per cent increase in average order value and 1.7x increase in ROI.
On Criteo’s Commerce Marketing Ecosystem
Criteo’s Commerce Marketing Ecosystem enables retailers and brands, who participate, to benefit from a much broader data set and more intelligent technology than they could acquire or develop on their own. A vast pool of fresh and granular data to understand the full shopping journey is delivered by Criteo Shopper Graph, world’s largest open shopper data set as a result of seeing over 1.2 billion active shoppers, analysing data on over $550 billion in commercial sales and more than 21 Billion shopping interactions. It also links online and offline data. This massive amount of shopper data provides Criteo with a deep understanding of shopper behaviour to accurately predict how and when shoppers are most likely to engage with messages which creates greater relevance and higher shopper engagement.
Criteo has successfully grown by helping clients drive measurable sales and ROI with the product portfolio, consisting of flagship product - Criteo Dynamic Retargeting, Criteo Audience Match, interactive video and new future products.
All these solutions take advantage of the Criteo Engine, which delivers powerful machine-learning and prediction capabilities.
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