French marketplace solution provider Octopia has revealed a new product named Octopia Ads, the company’s proprietary retail media solution. This new offering enables retailers to implement a sponsored search solution for their own products (1P) as well as for products from sellers and brands (3P).
Octopia provides ecommerce businesses with solutions to launch new marketplaces, enhance existing ones, sell on multiple marketplaces, or outsource logistics. The company reports that 50 percent of its business is generated internationally, serving more than 30 clients across 11 countries.
The company offers access to a qualified catalog of 15,000 sellers and 80 million products, along with fulfillment solutions. In 2023, Octopia expanded its operations to the UK, establishing a new warehouse and office. It also signed its first marketplace client in the UK, Onbuy.
Last month, IAB Europe introduced a set of measurement standards for retail media in Europe. Retail media, a relatively new concept, involves advertising space for retailers. Marketplaces such as Amazon and the French ecommerce leader Cdiscount often sell ad spaces in their product search results.
“Sponsored products can increase a brand’s sales by an average of 30 percent,” according to research by NielsenIQ. Since online shoppers frequently begin their search on marketplaces, sponsored products can significantly help brands and sellers by bringing these products to the attention of marketplace customers.
With Octopia Ads, sellers and brands can manage their paid visibility on marketplaces, optimizing their sales efforts through targeted advertising.
Sellers can set their own budgets with target CPCs (costs per click) and target ROAS (returns on ad spend). This solution integrates with marketplaces, helping sellers automate retail media campaigns. This automation is particularly beneficial for sellers who offer several hundred products and lack the time to fine-tune their campaigns.
“Octopia Ads was created to allow retailers and sellers to run self-managed campaigns. Thanks to automated ad campaigns, sellers and brands can now promote their products on marketplaces with little manual input,” shares Marina Prevosto, Growth and Marketing Director at Octopia.
In 2024, Octopia aims to successfully roll out the new solution, securing additional clients in Europe. The company also aspires for Octopia Ads to become a key player in the retail media space, specifically tailored to marketplaces.
