The retailer has teamed up with technology company Criteo to launch its own retail media platform. Brands and agencies that are already part of Criteo’s retail media platform and ecosystem can engage Michael’s customer base. The offering creates a new revenue stream for Michaels and enables brands to increase discovery of relevant products through advertising. The partnership also provides Michaels with a full suite of solutions and capabilities to scale its retail media program, including sponsored products, display and off-site advertising.
"For nearly 50 years, ‘makers’ have trusted Michaels to provide the highest-quality arts and crafts supplies at a great value,” Jason Brenner, vice president of e-commerce at Michaels, said in a statement. “While we've been executing on our digital transformation over the past 18 months, our focus has remained on being the destination for all makers to learn, shop and create. Criteo's retail media platform and ecosystem will play an integral role in our efforts to deliver a best-in-class experience to our makers by helping them discover relevant products while unlocking new revenue for Michaels to continue investing in enhancing their experience.”
Michaels joins the ranks of dozens of other major retailers that have introduced their own retail media platforms over the past few years. Some recent retailers to jump into the retail media space include: Albertsons, Cub, Price Chopper and Lowe’s. As more retailers add their own networks, the advertising options for brands continue to expand.
The retail media offering comes after Michaels has added other new elements to update its omnichannel experience for customers, with a focus on its “makers” customers who craft. Over the last 18 months, Michaels has introduced Buy Online Pick-Up In-Store (BOPIS), Curbside Delivery, Same-Day Delivery and Buy Now Pay Later (BNPL) options.
The addition of retail media adds to the retailer’s ongoing digital transformation efforts, with Criteo powering sponsored product and display ads, improved e-commerce economics and enhanced customer discoverability for Michaels. Brands can tap into Michaels’ audience, while agencies will be able to use Criteo's Retail Media API integrations to seamlessly reallocate or adjust media plans.
Over the past year, Criteo has expanded its retail media categories, including consumer electronics and home improvement. Lowe’s recently teamed up with CitrusAd and Criteo for its One Roof Media Network, which provides a portfolio of omnichannel advertising services. Criteo also partnered with Best Buy in a retail media move that enables advertisers to use Criteo’s cross-retailer platform to reach U.S. and Canadian consumers.
"Michaels holds a unique place with American shoppers as the leader in home décor and arts and crafts," Sherry Smith, executive managing director of global retail media at Criteo, said in a statement. "Our platform and measurement capabilities now offer specialty brands the ability to reach the retailer's loyal customer base of makers and artists."