Retail media commands 23% of global digital ad spends: Medhavi Singh, Criteo

In a compelling conversation on TechTalk, Medhavi Singh, the Country Head for India at Criteo, offered a deep dive into the rapidly evolving landscape of digital advertising, underscoring the growing importance of retail media, responsible data practices, and AI-driven personalization.

Singh began by addressing the increasing significance of privacy regulations, particularly in the Indian context. “Whether it is GDPR in Europe or the evolving frameworks in India, they’re reshaping how brands interact with consumers,” she noted. According to Singh, transparency and consumer control—especially through robust consent management systems—have become non-negotiables for ad tech players. “Brands really need to be wary of the fact that they should target more using first-party audiences,” she said, emphasising the value of retail media networks where consumer consent is inherently built in.

Criteo, she added, takes a “privacy by design” approach, meaning privacy is embedded at the outset of product development rather than treated as an afterthought. “That ensures our ads are not only personalized but also compliant at all times,” Singh said.

As the conversation turned to the rise of interactive advertising formats, Singh spoke passionately about the potential of immersive, user-driven experiences. “Shoppable ads, gamified experiences, AR and VR—all of these are helping brands increase user engagement,” she explained. For her personally, shoppable ads stand out. “I love shopping, so I think shoppable ads would be my go-to,” she laughed.

Singh also addressed the evolving nature of display advertising. While display has always been a cornerstone of digital marketing, the current trend is toward hyper-personalization and data-driven strategies. “Retail media is playing a key role here,” she said, adding that the medium has grown from being a performance tool to a full-funnel solution for brands.

Citing data from Criteo, Singh noted that retail media now commands 23 per cent of total digital ad spends globally—a figure that India has recently matched. “This used to be very different a few years ago. India has really caught up with the global trend,” she observed.

On performance marketing, Singh highlighted that it continues to be driven by ROI and measurable outcomes. “The focus remains on sales, revenue, and ROAS,” she said. However, she pointed to emerging trends that are reshaping the field, including the need for better cross-channel attribution. “A user might interact with retail media on one end and brand marketing on another. But these systems don’t always talk to each other,” she admitted. “There’s work to be done in consolidating those journeys.”

Unsurprisingly, AI and machine learning were central to the discussion. Singh called AI “the buzzword without which any conversation becomes defunct.” She explained how AI enhances everything from targeting precision to ad timing and user engagement. “If a user is not engaging, you step back. If they are, you dig deeper to personalize the next recommendation,” she said. Singh also mentioned a shift in analytics: “For the longest time, we’ve focused on campaign analytics. Now, we’re moving toward user analytics—understanding the individual rather than just the data.”

On Criteo’s broader plans for India and the APAC region, Singh said the focus remains firmly on expanding retail media partnerships. “That’s core to our success,” she explained. She also introduced Commerce Go, an AI-powered campaign automation tool integrated into Criteo’s main platform. “It allows any performance marketer to launch a campaign in just five clicks,” she said, calling it a major step toward democratizing performance marketing.

Another area of investment is partnerships with agencies. “Agencies are a critical part of the brand ecosystem. We want to ensure we’re addressing their needs while aligning with retailers,” she said. And of course, Criteo will continue to invest in AI innovation to stay ahead of the curve.

“Not just in 2025,” Singh concluded, “but well beyond.”