CitrusAd to buy on and off-platform media for retailers: Publicis Groupe
“For the very first time, retailers and brands will be able to launch off-site campaigns through the CitrusAd system and reach millions of relevant shoppers leveraging the epsilon COREID technology,” CitrusAd co-founder Brad Moran said.
CitrusAd, the retail media platform used by some of Australia’s biggest retailers, can now buy on and off-platform media, Publicis Groupe, which acquired it nine months ago, has announced. CitrusAd, powered by Epsilon, will use clean room tech, 300m CORE IDs from Epsilon and a self-serve platform to connect retailers and suppliers to media.
What you need to know:
- CitrusAd has been renamed ‘CitrusAd, powered by Epsilon’, as it launches the ability to serve on and off-site campaigns through one interface. CitrusAd started as a sponsored search engine for retailers, but is now looking to be the self-serve platform for all retailer media needs.
- Retail media is forecast to be a $60 billion industry by 2024, according to eMarketer. In Australia, it is already more than $500m, well on track to be $1 billion by 2025.
- Publicis’ platform uses 300m CORE IDs from Epsilon, the company’s data and tech arm.
- CitrusAd was founded by two Australians, Brad Moran and Nick Paech.
CitrusAd, the retail media platform co-founded by Australian entrepreneur Brad Moran and bought by Publicis Groupe, can now manage on and off-site ads, the company said.
‘CitrusAd, powered by Epsilon’ is a self-serve retail media platform that brands and retailers can use to buy and sell media using first party data.
eMarketer reckons ad spend in retail media will reach $60 billion by 2024. In Australia, it was forecast to reach $1 billion by 2025 – but estimates are that it is already at least $500 million.
When CitrusAd was sold to Publicis in July last year for $205m, Moran told Mi3 there was still “a long, long way to go in retail media”. He predicted they would push to monetise the retailer’s entire ecosystem, as sponsored search was just five to 10 per cent. This appears to be the culmination of the quiet work since then.
“For the very first time, retailers and brands will be able to launch off-site campaigns through the CitrusAd system and reach millions of relevant shoppers leveraging the epsilon COREID technology, as they are browsing the greater web,” Moran said. Epsilon is Publicis Groupe’s data tech company.
The platform will include clean room technology, which allows two or more parties to share data sets in a privacy-safe environment.
“The strength of our technology allows us to bring the brand/retailer partnership to a new era, one where both parties can work together to strengthen the backbone of customers understanding and enhance their readiness for a cookieless world,” Publicis Groupe chairman Arthur Sadoun said in a statement.
“The launch of our unified platform is a critical milestone in helping brands take back control of their customer relationships.”
