E-commerce retail giant Amazon is due to launch a new display ad targeting offering as the firm takes another leap into the digital advertising market.
Full details of the retargeting product have not been unveiled but according to Bloomberg, the offering will allow merchants selling on Amazon’s online marketplace to purchase ads that can track the user buying journey, luring them back to the website to make a purchase.
Merchants can also bid on ads that may appear on other websites in order to expand targeting reach. As a result, sellers only pay Amazon when a user clicks on an ad.
Taking on the rivals
The launch of Amazon’s new display ad offering is set to compete with similar products from tech firms Google (Alphabet) and Criteo; with the latter generating $2.3 billion revenue in 2017, with its retargeting product. Google, meanwhile, brought in $95 billion across its ad products last year.
Amazon’s development within the advertising marketing comes as no surprise with its ad business increasing 67% year-on-year to $1.7 billion in 2017.
Furthermore, the IAB and PwC’s Internet Advertising Revenue Report last week unveiled that digital ad spend reached $88 billion last year with non-video display advertising totalling to $27.5 billion.
With display ads across sites and apps growing, the e-commerce retailer believes it can take a piece of the pie from the market, with the new product helping merchants to target the consumers who have viewed their products.