Microsoft launches hosted retail media network
The burgeoning retail media network space is gaining a major new player.
Microsoft is introducing the Microsoft Advertising Network for retail, which the tech giant says offers retailers “ready-built demand, expansive ad supply, and access to high-intent shoppers.”
The hosted platform, which Microsoft says is also open to retailers with their own private retail media marketplaces, provides participants the ability to promote products across retailer partner websites managed through the Microsoft Advertising Platform.
The Microsoft Advertising Platform includes Microsoft owned-and-operated properties like Bing and the Edge browser, as well as third-party publishers such as Yahoo and the New York Times.
“We have deep learning of the retailer experience across Microsoft, so with Microsoft Advertising Network for retail, we minimized the efforts for retailers of all sizes to begin immediately generating retail media revenue and increasing their onsite sales,” said Paul Longo, global head of retail media sales at Microsoft.
Microsoft Advertising Network for retail is available in the U.S. only. Independent performance marketing firm Tinuiti will be a premier launch partner for Microsoft Advertising Network for retail, and omnichannel marketing platform Skai will be the first third-party platform integrated into the network.
Microsoft joins competitive marketplace
With this step, Microsoft is taking on established third-party retail media network platform providers such as Criteo. The Criteo retail media platform allows brand marketers and agencies to reach consumers shopping on e-commerce sites, while executing campaigns with full transparency and control.
Leveraging artificial intelligence (AI) capabilities, Criteo’s retail media ads conform to the same targeting and personalization as Best Buy’s organic product placements, helping ensure a seamless and relevant shopper experience.
Notable retailers currently utilizing Criteo technology to support their retail media network activities include Best Buy, Michaels and Lowe’s.
Grocery retailer Albertson’s is also trying to stake a claim as a leader in the retail media network niche by developing a framework to standardize specifications, methodologies, terminology and disclosures across retail media networks.
The first version of the framework introduced by Albertsons Media Collective concentrates on four areas: product characteristics, performance measurement, third-party verification and capabilities. The framework will be finalized after pressure-testing industry-wide priorities and ensuring executional feasibility. Guided by an advisory group, this framework will also expand and evolve further to support key initiatives by the Interactive Advertising Bureau (IAB).