Partnership will provide customers with a
personalized omni-channel experience ahead of the holiday shopping
season
NEW
YORK, Oct. 8, 2024 /PRNewswire/ --
Criteo (Nasdaq: CRTO), the commerce media company, today
announced a partnership with Belk Inc., a privately-owned U.S.
department store based in Charlotte,
N.C., to launch its retail media arm, the Belk Media
Network. The partnership offers national brands across the apparel,
accessories, beauty and home categories the opportunity to increase
awareness and sales on Belk's owned-and-operated properties. The
retailer will utilize sponsored products and onsite display, with
plans to expand to additional formats in 2025.
Access to Criteo's technology and Belk's first-party data will
allow brands and agencies to target a unique audience segment of
high-earning, predominately women shoppers. In anticipation of
another busy holiday shopping season where shoppers have less
purchasing power, retail media offers a competitive advantage,
allowing for advertisers to reach and activate high-intent
consumers amidst a heightened demand for deals. Belk serves
customers at nearly 300 stores and Belk Outlet locations spanning
across 16 Southeastern states and boasts a strong digital
presence.
"Belk is thrilled to be partnering with Criteo, an industry
leader with extensive experience building retail media networks
from the ground up, to help connect advertisers with our engaged
and loyal customer base," said Neal
Sheridan, Vice President of Belk Media Network. "Through
this partnership and the launch of the Belk Media Network, our
brand partners will be able to reach and engage with consumers at
the digital point of purchase, increasing visibility and driving
sales ahead of a very crowded holiday shopping season."
Belk Media Network launches as retail media continues to scale
at a rapid pace. With the category expected to surpass $231 billion by 2030, Belk is the latest company
to capitalize on the opportunity by joining Criteo's network of 225
global retailer and marketplace partners.
"We are excited to power the Belk Media Network and support how
national brands optimize their omnichannel campaigns to drive
measurable commerce outcomes," said Sherry
Smith, Executive Managing Director for the Americas at
Criteo. "Our technology will equip brands and agencies to maximize
their investments across Belk's digital properties and identify
opportunities for growth in the ever-evolving retail
landscape."
Belk is harnessing Criteo's retailer monetization platform,
Commerce Yield to optimize monetization opportunities and provide
brands and agencies access to its inventory and data for display
and sponsored product ad campaigns. Brands and agencies can also
plan, activate, and report on campaigns in real-time and with
closed-loop reporting via Criteo's demand-side platform, Commerce
Max for a seamless experience that drives performance across the
buyer journey.
For more information on Criteo's retail media solutions and its
retail media ecosystem, click here.
About Criteo
Criteo (NASDAQ: CRTO) is the global
commerce media company that enables marketers and media owners to
drive better commerce outcomes. Its industry leading Commerce Media
Platform connects thousands of marketers and media owners to
deliver richer consumer experiences from product discovery to
purchase. By powering trusted and impactful advertising, Criteo
supports an open internet that encourages discovery, innovation,
and choice. For more information, please
visit www.criteo.com.
About Belk
Charlotte-based Belk, Inc., a privately-owned
department store, opened its first store in 1888, beginning a
legacy of selling great products at great prices, treating
customers like family, and giving back to the community. Today,
Belk serves customers at nearly 300 Belk and Belk Outlet locations
across 16 Southeastern states and digitally through belk.com and
the Belk mobile app. For over 135 years, Belk has proudly put
customers and community at the center of what they do, supporting
local charities, organizations, and families when they need it
most. For more information visit https://newsroom.belk.com/.
To shop, find your local store at https://www.belk.com/stores/,
visit belk.com or download the Belk app in Google Play or Apple
Store.
Forward-Looking Statements Disclosure
This press release contains forward-looking statements,
including projected financial results for the quarter ending
September 30, 2024 and the year
ending December 31, 2024, 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 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 (including related to changes in a specific country's
or region's political or economic conditions), 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
Contribution 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 23, 2024, and in subsequent Quarterly
Reports on Form 10-Q as well as future filings and reports by the
Company. Importantly, at this time, macro-economic conditions
including inflation and volatile interest rates in the U.S. have
impacted Criteo's business, financial condition, cash flow and
results of operations.
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.
Media contacts
Criteo Public Relations
Jessica Meyers,
j.meyers@criteo.com
Criteo Investor Relations
Melanie Dambre, m.dambre@criteo.com
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SOURCE Criteo
