Carrefour Group and Publicis Groupe has partnered for a joint-venture named Unlimitail to address the rapidly growing retail media market in continental Europe, Brazil and Argentina.
The joint initiative was unveiled on Thursday at the VivaTech conference in Paris.
Unlimitail has onboarded 13 prominent retail partners, boasting a combined customer base of over 120 million shoppers and generating a 1.5 billion monthly page views.
Retail media has emerged as the fastest-growing channel for media spend and t is expected to overtake TV advertising spend for US consumer packaged goods companies within the next two years, the company said in a statement.
According to the press statement, until now, the fragmentation of the market in Europe and Latin America has made it difficult for all players to fully unlock its potential.
“While representing 85 per cent of the ecommerce market in those territories, traditional retailers only attract 15 per cent of retail media investments from brands,” the media statement read.
This is reducing revenue opportunities for retailers and is leaving brands with few if no alternatives to walled gardens, preventing them from reaching hundreds of millions of shoppers, it added.
Alexandre Bompard, CEO and President of Carrefour Group stated, “With Unlimitail, we want to create a European giant in retail media and one that has every chance of winning because it already has the best technologies on the market. It’s a project that goes far beyond Carrefour and Publicis, and we hope to rally as many partners as possible.”
Arthur Sadoun, CEO and Chairman of Publicis Groupe said, “Our ambition with our new partners and the ones that will soon follow is to create a leading platform in retail media as simple as the open web. A platform driving scale, connectivity, and consistency in a media that is an increasingly crucial pillar of any brand’s business strategy.”
To bridge the gap between retailers and brands, the joint venture aims to unlock the full potential of retail media driving increased revenue and delivering superior advertising results.
