AI Is Rewriting Retail Media: Why the Funnel Is Officially Dead

In today’s episode I’m sharing a standout moment from a conversation I recorded back in December on Zalando's Inside Fashion Marketing podcast. It captures a shift I haven’t been able to stop thinking about: how AI-enabled commerce is fundamentally changing the shopping journey, and what that means for retail media as we know it.If consumers are spending more time researching, comparing, and deciding with AI companions before they ever land on a retailer site, that has massive implications for sponsored products, display ads, and offsite retail media revenue. In this clip, I break down what’s changing, what surprised me most in 2025, and why the traditional funnel is basically over. If you care about the future of retail media, this is a conversation you don’t want to miss.This episode is sponsored by Mirakl AdsTimeline[00:00] Why AI-enabled commerce has been top of mind for me[01:24] The rise of AI companions in the research phase of the shopping journey[02:03] New AI-driven mid-funnel and purchase capabilities[02:45] What AI-led research means for onsite and offsite retail media revenue[04:36] My advice to brands navigating agentic commerce and retailer partnerships[06:00] The surprising rise of black-box algorithmic bidding in retail media networksLinks & ResourcesListen to the full Inside Fashion Marketing episode - Kiri Masters on what’s next in retail media: US vs. Europe & the 2026 edgeRead my related articles:Amazon is playing agentic commerce chicken. Other retailers should not.The Retail Media Doom LoopJoin me and Jordan Witmer from Salt XC at 11am Thursday Jan 22 for a LinkedIn Live on how big brands and small brands MUST approach retail media differently. We'll be answering questions LIVE -- join us!Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn