Embracing the Future of Commerce Media: 4 Key Trends

Authored by Taranjeet Singh, Managing Director, Enterprise, APAC, Criteo

The world of commerce media is rapidly changing, and businesses must stay up to date with the latest trends to remain competitive. Criteo’s “2023 Commerce Media Marketing-Altering Trends” sheds light on how retailers and advertisers can seize opportunities in the rapidly evolving landscape of commerce media. Despite the highly competitive nature of today's market, there are still avenues for businesses to reach their customers everywhere shoppable moments happen. Here are four major trends in 2023 that are poised to significantly reshape the industry.

Generative AI

The world is undergoing a transformative shift driven by the power of Generative AI. Today's consumers prefer personalizedoffers and automated customer services, placing an importance on the overall shopping experience beyond price and product quality. With AI-powered optimization, brands can personalize interactions at every stage of the customer lifecycle to meet customer needs swiftly and effectively. Generative AI empowers marketers to further transform the shopping experience, including analysis of data and behaviour, enabling the creation of even more personalized recommendations and offers for each individual. Conversational AI can also improve customer servicein chats, phone calls, social media and even in-store. When deployed in-store to help customer service queries, it can also bring in a wealth of offline data into online, allowing greater advertising relevancy. By providing a superior shoppingexperience, businesses can enhance customer satisfaction andfoster loyalty, ultimately increasing customer retention. As generative AI continues to advance, it is poised to gain a permanent seat in the ad tech industry and elevate the shopping experiences to new heights.

Gen Z

Gen Z's increasing spending power is transforming the landscape of commerce media. As advertisers seek growth, theyare recognizing the importance of connecting with this conscientious consumer demographic beyond TikTok. In 2023, marketers are actively seeking ways to engage with Gen Z through strategies and platforms that resonate with their values. Focus areas such as sustainability, affordability, diversity, and inclusion are key considerations. By understanding and catering to these values, advertisers can tap into the preferences and aspirations of Gen Z, leveraging their significant purchasing influence and driving meaningful engagement in the realm of commerce media.

Sustainability

Sustainability has become a critical consideration for media buyers and owners, who are now placing a strong emphasis on eco-conscious practices across their operations. This shift towards sustainability entails various measures, such as implementing carbon-neutral campaigns, engaging with net-zero emissions marketplaces, and leveraging attention-monitoring technology to enhance ad effectiveness which can contribute to cutting carbon emissions. Emerging enterprise climate platforms are facilitating connections between businesses and vendors focused on reducing their environmental impact. Sustainability is no longer an afterthought in advertising; it is now a pivotal force shaping the future of the industry, including both the front office and the back end of advertising.

Omnichannel

The convergence of online and offline channels calls for a fully integrated commerce approach, where strategies like research online purchase offline (ROPO), cross-channel attribution, and physical attraction are leveraged to create a cohesive and seamless customer journey. Through omnichannel advertising, brands can optimize their reach and impact, fostering deeper connections and driving customer loyalty in an increasingly interconnected commerce landscape.

The commerce media ecosystem is undergoing significant transformations, driven by emerging trends and technologies. Brands and marketers must embrace these changes to remain competitive as the key trends such as generative AI and sustainability offer opportunities to optimize advertising strategies and engage with consumers in meaningful ways. By staying agile and adapting to the evolving landscape, businesses can fully leverage commerce media and capitalize on the opportunities presented by these trends.