While his first exposure to India may have been via the launch of Starbucks in India, when he was working with Edelman, Brendan McCarthy, now Chief Marketing Officer at Criteo, spoke to exchange4media in an exclusive interview about the evolution of digital marketing, India’s booming retail media landscape, and the opportunities that lie ahead in one of the fastest-growing economies in the world.
McCarthy’s journey in the marketing world spans years of innovation and transition. Reflecting on his past experience working with companies like Starbucks in India, he sees both continuity and change in the way marketing operates.
“There are some things you’re not going to be able to change because they’re tried and true,” McCarthy says. “People want to come together, hear new information from tech companies, and learn how clients are interacting with it. We did this back then, and we’re still doing it today.”
Despite the rise of digital platforms, McCarthy highlights the importance of personal interaction in the Indian market, even if not necessarily in person. “Back when I was working with Edelman, the key to communication was still very hands-on. We used SMS extensively—sometimes it was even like, 'Did you see my SMS?' And then you’d get on the phone to check if they did. That was how we communicated back then, and while platforms may have changed, the personal touch still matters.”
McCarthy’s experience illustrates how traditional methods can still thrive alongside digital advancements. However, India’s marketing landscape has evolved significantly, with technology playing a central role in modern campaigns. With India’s economy growing rapidly and an influx of new consumers entering the digital space, retail media has emerged as a key growth area for Criteo.
McCarthy notes that India is a prime market for Criteo’s retail media offerings, remarking, “India is the fastest-growing retail media market in APAC for Criteo ,” McCarthy shares. “When we started here in 2016, we had zero people in the country. Today, eight years later, we have 300 employees, which accounts for 10% of our global workforce. This shows our strong commitment to the market.”
The retail media landscape in India is evolving quickly, with local giants leading the charge in utilising consumer data to enhance their advertising capabilities. McCarthy highlights that these platforms are becoming ‘retail media networks’ in their own right.
“They’ve got first-party data, an excited consumer base, and commerce capabilities,” McCarthy says. “For us, at Criteo, it’s about helping companies tap into that. But not everyone needs to become a white-labelled retail media network. Some businesses realize they need partners with the tech knowledge to run these operations, and that’s where we come in.”
While the potential for growth in India is massive, McCarthy is quick to point out that building and scaling retail media networks isn’t always straightforward.
“There are some companies that say, ‘We’re going to do this, and we’re going to do it all in-house,’” McCarthy explains. “But then they realize it’s too hard. Whether it’s the billing, the tech stack, or managing sales, they face unexpected challenges. That’s when they come to us, looking for partnerships to help make it work.”
One of the critical hurdles McCarthy sees is the lack of standardization in the retail media space. “There has to be unification, particularly around standards. If you look at sectors like financial services or the auto industry, standards are in place to make people feel comfortable with their investments. The same needs to happen in retail media.” Long time readers of e4m may note that is a topic that this particular reporter has been harping on about for a while.
In McCarthy’s view, this shift toward standardized measurement and operation will be key for the future. “Five years from now, if retail media is going to be a success, there have to be standards that make it a much cleaner operation. Otherwise, the complexity of managing multiple networks and ensuring accurate measurement will hold businesses back.”
With 250 million more Indians expected to come online for the first time by 2025, India presents a tremendous opportunity for digital marketing and retail commerce. McCarthy acknowledges this, emphasizing that Criteo is well-positioned to support this influx of data and growth.
“India is the fastest-growing retail media market for Criteo. When we started here in 2016, we had zero people in the country. Today, eight years later, we have 300 employees, which accounts for 10% of our global workforce. This shows our strong commitment to the market,” he says.
“We’ve scaled significantly, and our teams here are multifaceted. The employees aren’t just salespeople; they’re also working on tech, strategy, and growth initiatives to ensure we can meet the demands of the market,” adds McCarthy.
As McCarthy sees it, this massive wave of new digital consumers represents an exciting growth engine for companies looking to expand their retail media capabilities. But with the increase in online activity comes the challenge of cutting through the clutter and delivering targeted messages effectively.
“The way consumers are discovering and purchasing is changing. Take Diwali, for example. Last year, we saw that discovery, browsing, and purchase all happened within 18 days of each other. That’s a compressed window compared to traditional shopping, and it’s only going to get faster as more people go online.”
In today’s multi-channel world, marketers must engage consumers across a range of platforms, from social media to review sites. Criteo aims to ensure that brands can reach consumers at every stage of the journey.
“When you talk about a full-funnel approach, you’re talking about everything from discovery to purchase,” McCarthy explains. “It’s not just about sponsored ads anymore. We’ve got to be present on review sites, social platforms, and everywhere in between, ensuring that the message lands at the right time.”
Criteo’s approach focuses on giving marketers the tools to track consumer behavior across various touchpoints, ensuring that they can make informed decisions along the buyer journey. This requires coordination across multiple platforms and channels, something McCarthy believes is crucial for staying competitive in the modern retail landscape.
McCarthy also reflects on how his personal consumer habits have informed his professional journey at Criteo, saying, “I’m one of those deep, rabbit-hole research types. I don’t trust the first thing I see, and I want three other people to agree before I make a decision. So, I understand how complex the buyer journey can be. At Criteo, we work hard to ensure that we’re guiding consumers thoughtfully through that journey.”
For India’s marketing landscape, the future is undoubtedly bright. As McCarthy emphasizes, “We are among the consumers we are targeting, and we have to keep that perspective in mind as we shape the future of retail media in India and beyond.”
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