Moloco Retail Media Platform enables e-commerce marketplaces to host their own native performance ad business
Moloco, a leader in machine learning and growth solutions for performance marketers, has today announced the launch of Moloco Retail Media Platform (RMP) for Singapore and Southeast Asia.
Moloco’s RMP is a turnkey ad-serving platform that enables e-commerce marketplaces to set up their own in-house advertising business. Powered by machine learning, RMP is able to drive higher return on ad spend (ROAS) for merchants with relevant and personalized sponsored product recommendations based on real-time shopper behavior. With a self-serve advertiser UI, both marketplace and merchant are able to generate immediate value without the need to build additional infrastructure.
Singapore has been selected as RMP’s next market for expansion as a strategic hub for the e-commerce industry in Southeast Asia and the wider Asia Pacific region. Retail media has been touted as digital advertising’s ‘new’ third pillar, following search and social, with the market valued at USD$100 billion over the next 5 years.
“Moloco’s ultimate vision is of a digital economy, powered by machine learning, that is both equitable and profitable for companies of all sizes, not just the elite few. With Moloco Retail Media Platform, we enable e-commerce platforms of all sizes to level the playing field against larger competitors and build new revenue streams, all while improving experiences for all. We’re excited to launch this solution in Southeast Asia, and take another step closer to making our vision a reality,” said Junho Lee, Head of the RMP Business Unit, South East Asia at Moloco.
Moloco’s tried and tested RMP solution has previously supported the likes of Korean lifestyle technology platform Bucketplace to drive the evolution of its e-commerce marketplace oHouse, and better enable its merchants to make their products more discoverable.
Leveraging Moloco’s years of machine learning expertise, Bucketplace was able to launch its own native performance ad business within three months, and onboard 15% of oHouse’s total merchants within the first quarter of deployment. Merchants were able to set up their campaigns within the space of 5 minutes - and subsequent A/B test results showed a 2.2% increase in purchases among shoppers exposed to product ads on oHouse compared to those who weren’t.
“E-commerce companies in Singapore and Southeast Asia have scaled rapidly in recent years, and are now looking for solutions to propel their next stage of growth. With RMP, Moloco is able to equip these marketplaces and their merchants with better performance and control over their advertising campaigns, by enabling them to unlock the power of their own first-party data, quickly optimize their strategies and offer highly personalized buyer journeys,” Junho added.
RMP is one of two flagship offerings in Southeast Asia. The second - Moloco Cloud DSP- is targeted at app marketers to enable app businesses to scale performance quickly and efficiently by leveraging Moloco’s battle-tested prediction models. Moloco Cloud DSP is able to reach 190+ countries, 2.6 million apps, 10 billion devices, and 35 billion impressions per month. The solution is also able to process 5.5 million bid requests and make 4 million deep-learning predictions per second.
By Staff Reporter Minha Yang (mh.yang@etnews.com)