SINGAPORE, 10 November — Carousell Media Group, Asia’s leading Retail Media Network and the advertising arm of Carousell Group, today launched Shopping Ads to support brands in acquiring new customers and increasing sales.
Retail Media is considered the third wave of digital advertising, behind Search and Social, and is the fastest-growing and most dynamic ad marketplaces in the world. WPP’s GroupM projects retail media spend to be $101B in 2022 and will grow to $160B by 2027. McKinsey predicts that Retail Media has the potential to generate over $1.3 trillion of enterprise value in the United States and create a paradigm shift in digital advertising not seen since the rise of programmatic.
Carousell’s Shopping Ads give consumers the most relevant ads possible through an optimised product feed that’s triggered by the consumer’s search queries on Carousell’s marketplaces, making them an efficient and effective way for advertisers to boost traffic to their eCommerce stores and increase sales.
“Product search ads and their efficacy are the driving force behind the retail media phenomenon. With over 150M product searches on our marketplaces every month, this ad solution is a natural fit that benefits both consumers and our advertising clients through more relevant and effective ads,” said JJ Eastwood, Managing Director of Carousell Media Group.
Earlier in 2022, Carousell Media Group also launched Connect – a first-of-its-kind recommerce programmatic buying platform that deploys best-in-class DSP ad technology – to give advertisers a viable alternative to the closed environments like Google and Facebook by providing them with full-funnel marketing solutions and enabling them to engage with Carousell Media Group’s audiences on every ad format available across the open internet – video, display, audio and Connected TV.
About Carousell Media Group
The Carousell Media Group (CMG) is the media arm of the Carousell Group and offers advertising solutions for brands and agencies across all marketplaces – Carousell, Mudah.my, Cho Tot, OneKyat and Ox Street. With tens of millions of users in 8 different markets across Greater Southeast Asia, Carousell Media Group provides scale and reach to advertisers. Visit here for more information.
About Carousell Group
Carousell Group is one of the world’s most significant and fastest-growing classifieds marketplace platforms across Southeast Asia, Taiwan and Hong Kong. Started in August 2012, Carousell Group began in Singapore and now has a leading presence in eight markets under the brands Carousell, Mudah.my, Cho Tot and OneKyat, serving tens of millions of monthly active users. Carousell Group is backed by leading investors, including Telenor Group, Rakuten Ventures, Naver and Sequoia Capital India. Visit here for more information.