Criteo, a French global commerce media company, is expanding deeper into Thailand to capitalise on the growth of digital advertising and e-commerce.
Thailand is the No.3 market in Southeast Asia for digital advertising, behind Indonesia and the Philippines, said the company.
"As customer journeys become more complex with multiple touchpoints, both online and offline, and high inflation leads to more cautious spending, marketers and brands face new challenges," said Taranjeet Singh, managing director for venture markets in Asia-Pacific at Criteo.
Mr Singh said previously Criteo offered its commerce media platform directly from its Singapore office. Then the company appointed Media Donut as its local reseller and to provide local support to Criteo.
Criteo offers commerce media, which connects digital adverting with online and offline transactions. This enables marketers and media owners to drive better commerce outcomes, said the company.
Commerce media bridges the gap between advertising and sales transactions, using transaction signals and ad intelligence to link impressions directly to purchases, he said.
Mr Singh said commerce media is reshaping how brands reach and engage consumers by seamlessly integrating media impressions with e-commerce transactions.
He said the company found consumers spend 66% of online time on the open internet, referring to sites and platforms where digital ads can reach a wide audience.
The value of e-commerce on the open internet will reach US$2 trillion by 2025, and commerce media spending this year is projected to be $200 billion, according to Criteo.
Criteo operates across the demand and supply sides of the advertising ecosystem.
On the supply side, it works with media owners, including retailers, e-marketplaces and adjacent vertical businesses like Grab.
On the demand side, the company collaborates with brands and agencies. "We embrace machine learning and artificial intelligence throughout the advertising platform to enhance targeting, personalisation and campaign optimisation while ensuring compliance with privacy regulations."
The company earns money from the subscription fees of its platform.
Thailand has a strong e-commerce market which is projected to rise to 700 billion baht in 2024, up 6% year-on-year.
More than 67% of Thai consumers shop on e-commerce platforms and 88% of Thais browse the internet eight hours a day on average, creating substantial digital advertising opportunities.
