Big Agencies & Retail Media: A Slightly Unhinged Relationship

Retail media may be the hottest topic in advertising right now, but how do big agencies really feel about it? In this episode, I unpack new Infillion research that reveals the complicated love-hate relationship agencies have with retail media. On the surface, agencies are excited about its potential. But dig deeper and you’ll find a story of frustration, structural challenges, and competing priorities.I break down the numbers from a survey of senior media buyers at large agencies, explore why retail media is still treated as a promotional channel, and highlight the formats and tactics that are winning attention. You’ll hear where agencies are bullish, what’s holding them back, and what it will take for retail media to evolve into a true full-funnel solution.This episode is sponsored by Connected Commerce at Acosta GroupTimeline[00:54] - What agencies love about retail media [02:19] - The ROAS trap: how short-term thinking limits long-term brand impact[03:31] - Connected TV as retail media’s brightest spot[04:26] - Why in-store formats aren’t winning big budgets (yet)[05:35] - The measurement problem: what agencies really want fixed[06:26] - High costs, inflexible budgets and steep activation fees[07:34] - Internal silos: how brand and agency politics hold back adoption[08:45] - Final takeaways: what separates winners from laggards in retail mediaLinks & ResourcesDownload Infillion's research report What Buyers Really Want From Retail Media NetworksRead From ‘Fame and Distribution’ to ‘Gaming Attribution’ from Andrew Lipsman's Media, Ads + Commerce Substack newsletterRead my recent article How Alliances Could Solve Retail Media's Fragmentation Problem (Part 1)Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri on LinkedIn