If the deal goes through, analysts and experts previously told ADWEEK that the IPG-Omnicom retail media business would have a more competitive edge against Publicis Groupe, which has also invested heavily in retail media tech acquisitions over the last several years.
With more mergers and acquisitions predicted throughout 2025, Komasinski could help to foster agency relationships at a critical moment for Criteo.
“We don’t yet know Criteo’s long-term ambition,” Dan Maguire, director of retail media at Gale, told ADWEEK. “Is it to become another CitrusAd? Mars? Flywheel?”
Retail media growth is slowing
While retail media spend is projected to hit $60 billion this year, according to Emarketer, growth has begun to slow.
“Retail media growth is slowing due to some of the largest players reaching saturation on their owned properties,” Sarah Marzano, principal analyst at Emarketer, told ADWEEK.
At the same time, the retail media space is becoming more crowded. Retailers and ecommerce businesses are continuing to launch new ad businesses, while adtech companies are emerging or pivoting to solve the challenges advertisers face when juggling dozens—if not hundreds—of different retail media networks.
Amazon, for example, is launching a new product that will help retailers stand up advertising businesses and find potential advertisers. Up until now, Amazon has solely sold ads on behalf of itself.
“For the long-tail retail media networks to find success, they must overcome advertiser gripes with navigating a fragmented landscape,” Marzano said. “If Criteo can position itself as a salve for retail media networks and advertisers seeking efficiency and scale it will carve out a valuable role in the future growth of retail media.”
Slower growth could also bring more M&A action to retail media, noted Andrew Lipsman, independent retail media analyst.
“There is likely to be consolidation [and] aggregation of retail media networks over the next couple years as many come to terms with the fact that they’re not independently viable,” Lipsman said. “Criteo is well-positioned for this tailwind.”
Most of Criteo’s business still relies on cookies
While Clarken has shepherded Criteo into the era of retail media, powering 225 retail media programs for companies like Target, JCPenney, and Walgreens, the majority of the company’s revenue comes from cookie-dependent ad retargeting.