83% of Retail Media Campaigns Are Misleading You (iROAS Exposed)

Today I’m revisiting my recent article for The Drum and digging into a piece of research that stopped me in my tracks. And honestly, it might change how you think about retail media measurement altogether. I walk through new findings showing that something as simple as methodological choices can dramatically swing incremental ROAS (iROAS), sometimes even flipping campaign results from positive to negative. If you’ve ever trusted a single performance number at face value, this conversation is going to challenge that assumption.I also explore what’s really going on beneath the surface of iROAS, why transparency might matter more than standardization, and what both brands and retailers need to start doing differently. Plus, I share a perspective shift inspired by Brené Brown that reframes how we approach metrics, uncertainty, and decision-making in retail media. This one’s all about asking better questions: and getting closer to the truth behind the numbers.This episode is sponsored by Mirakl AdsTimeline[00:12] – Why methodological choices can drastically impact iROAS results [01:17] – The shocking finding: same campaign, wildly different iROAS outcomes [02:23] – What “iROAS Demystified” reveals about hidden variability in measurement [03:00] – The four key variables that influence how iROAS is calculated [04:00] – Why better match quality can actually lead to lower iROAS estimates [05:15] – Should iROAS still be a headline KPI? Industry perspectives [08:19] – How mid-market brands can ask smarter questions about their reportsLinks & ResourcesMy original article on The Drum: 83% of retail media campaigns can be gamed on iROAS. Here’s howWhite paper from Albertsons, Ovative Group, and Northwestern University’s Kellogg School of Management: iROAS Demystified: Understanding Your Brands Incremental ROASFollow Liz Roche, VP @ Albertsons, on LinkedInFollow Derek Nelson, Senior Director of Retail Media Consulting @ Ovative Group, on LinkedInRead my related articles:Why ROAS Refuses To DieBrands demand retail media standards. Retailers say it's too hard. Do they kind of have a point?Brian Monahan's 'Bloody Obvious' Bets Are Shaking Up Albertsons Media CollectiveSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn