Retailers Are Learning to Sell—But This Time, It’s Media, Not Products (Part 1/3)

In this special 3-part series, Jordan Witmer, Managing Director of Unified Commerce at the agency Nectar First, joins Kiri to riff on the business of retail media from an advertiser, technology, and retailer perspective. we discuss about how retailers are jumping into the business of selling their ad inventory to brands. As they stand up these highly profitable properties, retailers need to grapple with a very "retail" challenge: their unique value proposition - but this time to advertisers rather than consumers. Today's discussion delves into the concept of retailers reverting to their core competencies by utilizing advanced retail media technologies. Throughout the episode, Jordan explains the industry's shift from viewing retailers as media companies to focusing on their primary role of merchandising products effectively. The discussion also explores the growing sophistication of retail media networks, the technologies that power them, and the reasons behind some retailers' reluctance to disclose their tech stacks.This is Part 1 of the special 3 part series.Link to LI profile: https://www.linkedin.com/in/jordan-witmer-b220b646/Link to Nectar First: https://nectarfirst.com/PRODUCED BY:https://aipodcast.ingCHAPTERS:(00:00) About Today's Topic(00:27) About the Show(00:48) Introduction to Retailers Becoming Retailers Again(01:04) The Role Reversal in Retail Media(02:47) Understanding the Backend Tech(03:18) The Gold Analogy and Retailer Strategies(05:12) Retailers' Secrecy on Tech Stacks(07:59) The Debate Continues(08:12) OutroSOCIAL LINKS:Website: https://www.retailmediabreakfastclub.comLinkedIn: https://www.linkedin.com/in/kiri-masters/YouTube: https://www.youtube.com/@retailmediabreakfastclubApple: https://podcasts.apple.com/us/podcast/retail-media-breakfast-club/id1782187624//Spotify: https://open.spotify.com/show/3s5MuqcrsOmQDKn3uMYJKb