Retail Media Breakfast Club

Last week, I stepped onto the stage at the Digital Shelf Summit here in Atlanta for a debate that’s been heating up across the industry: is agentic commerce an existential threat to e-commerce traffic? I took the “yes” side — boldly — and in this episode, I’m unpacking my full rebuttal to the idea that this is all just hype.I walk through where I agree with the skeptics (because yes, some of the data has been overstated), but more importantly, where I think the industry is missing the point entirely. This isn’t about transaction share: it’s about where decisions are being made. If AI shifts the moment of product discovery and comparison upstream, what happens to the retail media model as we know it? Let’s dig into the real implications before we all get too comfortable.This episode is sponsored by Mirakl AdsTimeline[00:00] – Setting the stage: My debate at Digital Shelf Summit and why this topic matters now[01:25] – Breaking down the “agentic commerce is a hallucination” argument[03:15] – The critical flaw: Measuring transactions instead of decision-making moments[04:30] – Why retail media depends on consumer behavior that may be disappearing[06:30] – New data reveals a shift toward direct-to-product-page shopping[08:00] – The hidden trade-off: Higher conversion, fewer ad impressions[10:30] – My final takeaway: The real hallucination isn’t disruption, it’s thinking nothing will changeLinks & ResourcesAndrew Lipsman's guest post on The AI Ad Economy: An Agentic Commerce Reality CheckSubscribe to Debra Aho Williamson's newsletter The AI Ad EconomySubscribe to Andrew Lipsman's newsletter Media, Ads + CommerceCriteo's 2026 COMMERCE & AI TREND REPORTAdobe's Quarterly AI Traffic Report (April 2026)Read my related articles:No Incentive To Sound The AlarmDark Search, Broken Signals, and What Comes Next for Retail MediaThe 3 Ways Agentic Commerce Could Destroy Retail MediaAgentic Shopping Poses An Existential Threat To Retail Media (Part 2)OpenAI is killing Instant Checkout. Don't dance on the grave of agentic shopping yet (The Drum)Loyalty data is becoming retail media’s strongest defense (The Drum)Retailers, here’s how your media network can still thrive in an AI-shopping era (The Drum)I'm keynoting at Xnurta's Signal to Scale summit on May 19 in Chicago. This is the room to be in if you work in retail media, care about what AI actually changes, and want to leave with something you can put to work. A full day focused on agentic AI, modern measurement, and the strategies the best teams are already building toward. Reserve your spot here.EMARKETER is teaming up again with Bain to survey retail media network leaders for a unique insight into the forces shaping the industry. The survey is intended for people working in-house on retail media teams, and it is global this year! The survey is also double-anonymized. The survey organizers will not know, nor are they trying to determine, which specific retail media network a respondent works for. The goal is to understand broader retail media trends, not attribute responses to individual companies. Please take the survey here. In Atlanta? Join the Commerce Media Happy Hour on Wednesday May 20! RSVP hereI am sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Most retail media networks are built to look backward. But what if the real opportunity is predicting what customers will do next? In this episode, a reprise of my recent article for The Drum, I dig into a fascinating new model that challenges the industry’s reliance on transaction data and closed-loop attribution.I’m unpacking my recent conversation with Marco Steinsieck, former head of Sephora’s media network and now GM of Backpack Media, an education-powered commerce media network built on Sallie’s ecosystem. I also play a snippet of Marco's recent appearance on The Middlemen podcast to explore how life-stage signals — like planning for college or making first financial decisions — might be a far more powerful indicator of future purchases than anything sitting in a transaction log. This one raises big questions about where commerce media is headed and whether the current playbook is already outdated.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why most commerce media networks are stuck selling the past [00:30] – Marco Steinsieck's big idea: predicting future purchases, not past behavior [01:04] – Life-stage data vs. transaction data: why one is a leading indicator [02:00] – Inside Backpack Media and how education data powers predictive modeling [03:15] – Lessons from Sephora: building a high-performing media network without massive scale [04:00] – The privacy-first challenge of building media inside a financial institution [07:30] – Is this really “commerce media”? Rethinking the definition of the category [09:00] – Why predictive commerce is still unproven, and what needs to happen nextLinks & ResourcesMarco Steinsieck profile on The Drum: Meet the former Sephora exec betting commerce media can predict the futureMarco Steinsieck's full appearance on The Middlemen podcast: Beyond Transactions — Marco Steinsieck (Backpack Media)Subscribe to The Middlemen on YouTube and Apple PodcastsFollow Marco Steinsieck on LinkedInRead my related articles:Best Buy Wants To Become An Ad Platform, Not Just Another RMNSam's Club Cracked the Code on In-Store Retail Media—Here's How They Did ItRetailers Hit 99% Ad Coverage Without Killing User Experience, New Research ShowsI'm keynoting at Xnurta's Signal to Scale summit on May 19 in Chicago. This is the room to be in if you work in retail media, care about what AI actually changes, and want to leave with something you can put to work. A full day focused on agentic AI, modern measurement, and the strategies the best teams are already building toward. Reserve your spot here.EMARKETER is teaming up again with Bain to survey retail media network leaders for a unique insight into the forces shaping the industry. The survey is intended for people working in-house on retail media teams, and it is global this year! The survey is also double-anonymized. The survey organizers will not know, nor are they trying to determine, which specific retail media network a respondent works for. The goal is to understand broader retail media trends, not attribute responses to individual companies. Please take the survey here. In Atlanta? Join the Commerce Media Happy Hour on Wednesday May 20! RSVP hereI am sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I unpack a contrarian take that’s been sitting with me since my conversation with James Deaker on The Yield Doctor: what if the biggest threat to retail media is already here, but no one has the incentive to talk about it? I replay snippets from my convo with James, and dig into how AI-enabled commerce is reshaping the shopper journey long before customers ever land on a retailer’s site, and why that creates a structural risk for the entire retail media model.I also explore the uncomfortable truth about leadership incentives: why retail media executives may be disincentivized from sounding the alarm, even as behavioral data signals start to disappear and ad surfaces lose relevance. This isn’t about the death of retail media, but it is about a major reset. The question is: who’s actually preparing for it?This episode is sponsored by Mirakl AdsTimeline[00:00] - My opening take: why retail media leaders aren’t incentivized to sound the alarm on AI[00:50] - James Deaker on why retail media must prioritize advertiser relationships[01:26] - The fragility of endemic advertiser demand and why it matters[01:52] - The hidden assumption: shoppers still arrive with unformed intent[02:31] - The shift to AI-driven discovery before retailer interaction[02:45] - My contrarian answer: AI-enabled commerce as an underappreciated threat[03:27] - Real-world behavior change: using AI tools instead of retailer search[04:10] - Declining behavioral signals and shrinking ad surface engagement[05:07] - Why this signals a reset — not the end — of retail mediaLinks & ResourcesWatch the full replay of my appearance on The Yield Doctor: Maximum Yield: Kiri Masters on Growing Your Retail Media Bottom LineSubscribe to The Yield Doctor with James Deaker on YouTubeFollow James Deaker on LinkedInRead my related articles:'The Biggest Change in My Lifetime' — Marketecture CSO on AI ShoppingAI Is Claiming Browsing Behavior. Commerce Media Must Compete On Its Data AdvantageWhy AI Search Advertising Could Reach $25 Billion By 2029I'm keynoting at Xnurta's Signal to Scale summit on May 19 in Chicago. This is the room to be in if you work in retail media, care about what AI actually changes, and want to leave with something you can put to work. A full day focused on agentic AI, modern measurement, and the strategies the best teams are already building toward. Reserve your spot here.In Atlanta? Join the Commerce Media Happy Hour on Wednesday May 20! RSVP hereEMARKETER is teaming up again with Bain to survey retail media network leaders for a unique insight into the forces shaping the industry. The survey is intended for people working in-house on retail media teams, and it is global this year!Important to know that the survey is also double-anonymized. The survey organizers will not know, nor are they trying to determine, which specific retail media network a respondent works for. The goal is to understand broader retail media trends, not attribute responses to individual companies. Please take the survey here. I'm sharing comedy skits about retail media on Instagram! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

A few weeks ago, Kroger Precision Marketing announced a major partnership with Google that allows brands to activate Kroger audiences directly inside YouTube and DV360 while tying campaign measurement back to actual Kroger sales. On the surface, this looks like another retail media expansion story. But in this episode, I share snippets of a recent LinkedIn Live, and unpack why it’s actually something much bigger.On the livestream I was joined by Christine Foster from Kroger Precision Marketing and Jon Flugstad from MetaRouter to explore the real competitive advantage emerging in commerce media: context. We discuss why retailer-owned shopper intelligence is becoming more valuable than rented identity solutions, how loyalty data changes the game for omnichannel measurement, and why the future winners in retail media won’t necessarily be the retailers with the most ad products, but the ones with the strongest infrastructureThis episode is sponsored by Mirakl AdsTimeline[00:00] Why Kroger’s Google partnership is really a story about shopper context, not just media activation [01:00] What retailers uniquely own that platforms and infrastructure companies can’t replicate [02:22] Christine Foster explains how Kroger’s 20+ years of loyalty data powers trusted audience intelligence [04:14] Jon Flugstad breaks down the fragmented retail media tech stack and why reconciliation is so difficult [05:30] Why retailer-owned context is becoming the “gold” of commerce media in the AI era [07:18] How Kroger designed its Google integration to give brands self-serve activation directly inside existing workflows [09:37] Why omnichannel visibility across online and in-store sales is the next evolution of retail media measurement [10:58] My biggest takeaway: the future winners in commerce media will be defined by infrastructure and context layers, not ad formatsLinks & ResourcesFull livestream replay: How Kroger Precision Marketing Is Plugging Into National Brand BudgetsFollow Christine Foster, Group VP @ Kroger Precision Marketing, on LinkedInFollow Jon Flugstad, Chief Business Officer @ MetaRouter, on LinkedInRead my related articles:How Kroger Is Cracking Into Brand Budgets With YouTubeManaging a Multi-Retailer RMN Stack: The Operational RealityAI Is Claiming Browsing Behavior. Commerce Media Must Compete On Its Data AdvantageI'm keynoting at Xnurta's Signal to Scale summit on May 19 in Chicago. This is the room to be in if you work in retail media, care about what AI actually changes, and want to leave with something you can put to work. A full day focused on agentic AI, modern measurement, and the strategies the best teams are already building toward. Reserve your spot here.In Atlanta? Join the Commerce Media Happy Hour on Wednesday May 20! RSVP hereI am sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I dive into a powerful idea that completely reframed how I think about retail media in relation to communicating narrative. After listening to a conversation featuring Joe Zappa on the AdTechGod Pod, I couldn’t ignore how directly his framework applies to our world. We’re not struggling with innovation: we’re struggling with storytelling.I unpack why so many retail media announcements fall flat, even when the products themselves are solid, and what’s missing from the way we communicate value. I explore how shifting from feature-first messaging to problem-first narratives can transform how brands, agencies, and the industry as a whole responds. Plus, I break down practical ways leaders can stand out: not by being louder, but by being clearer and more intentional with their voice.This episode is sponsored by Mirakl AdsTimeline[00:00] - Why I’m looking outside retail media to rethink how we tell our story[01:00] - The core problem: leading with features instead of fixing what’s broken[02:30] - Why most retail media announcements fail to answer “why should anyone care?”[03:30] - The real opportunity for executives: sharing learnings instead of self-promotion[05:15] - A simple 4-part framework for creating impactful LinkedIn content[07:30] - Why being present and opinionated beats being technically “different”[08:45] - The shift retail media needs: from “we launched” to “here’s the problem we solve”Links & ResourcesListen to the full AdTechGod Pod episode with Joe Zappa: Ep. 130 The Power Flip: Joe Zappa on Why Leaders Must Become the MediaSubscribe to the AdTechGod PodFollow Joe Zappa on LinkedInRead my related articles:Why RMNs Keep Their Tech Stacks SecretGet On The Damn StageApply For The Damn AwardTODAY (Thursday May 7) I'm hosting a LinkedIn Live event: How Kroger Precision Marketing Is Plugging Into National Brand Budgets ! Join me, Christine Foster (head of Kroger Precision Marketing) and Jon Flugstad (Metarouter) to hash out the details of Kroger's partnership with DV360 and how this development is a sign of maturity in the retail media ecosystem. Bring your questions, we'll be doing this LIVE [signup link]I'm keynoting at Xnurta's Signal to Scale summit on May 19 in Chicago. This is the room to be in if you work in retail media, care about what AI actually changes, and want to leave with something you can put to work. A full day focused on agentic AI, modern measurement, and the strategies the best teams are already building toward. Reserve your spot here.I am sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today, I’m doing something a little different. After attending Possible Miami and The Drum's Global Commerce Media Leaders Forum, my brain is overflowing, in the best way possible. I’ve got pages of notes, dozens of conversations swirling around, and one big question: which buzz-y trends actually matter most to you?So instead of pretending I’ve got all the answers, I’m opening this up. In this episode, I walk you through seven of the most pressing, debated, and under-the-radar topics in retail media right now — from agency misalignment to AI agents — and I want your take. Which of these deserve a deeper dive? Which ones are hype vs. a real opportunity? Let’s figure it out together.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why my brain is overflowing after Possible Miami and why I’m asking for your input[01:20] – Why brands don’t want retail media as a line item anymore[02:28] – Objective-based buying: breakthrough solution or black box?[03:11] – The hidden impact of ad sales team compensation on retail media performance[04:00] – Untapped potential in email, SMS, and CRM as retail media channels[05:45] – Experiential retail media and the return of in-store human connection[06:52] – Data clean rooms and AI agents: real use cases vs. vendor hypeLinks & ResourcesRecap of the panel I hosted at The Drum's inaugural Global Commerce Leaders Forum: Bring the "Retail" back to Retail MediaRead my related articles:Best Buy Wants To Become An Ad Platform, Not Just Another RMNAgentic Commerce Is a Sequencing Problem, Not an Existential OneSam's Club Cracked the Code on In-Store Retail Media—Here's How They Did ItOn Thursday May 7 I am hosting a LinkedIn Live event: How Kroger Precision Marketing Is Plugging Into National Brand Budgets ! Join me, Christine Foster (head of Kroger Precision Marketing) and Jon Flugstad (Metarouter) to hash out the details of Kroger's partnership with DV360 and how this development is a sign of maturity in the retail media ecosystem. Bring your questions, we'll be doing this LIVE [sign up link]I'm keynoting at Xnurta's Signal to Scale summit on May 19 in Chicago. This is the room to be in if you work in retail media, care about what AI actually changes, and want to leave with something you can put to work. A full day focused on agentic AI, modern measurement, and the strategies the best teams are already building toward. Reserve your spot here.I am sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I unpack the intense industry reaction to a piece of Albertsons Media Collective, Ovative Group, and Kellogg School of Management research that challenged how we measure iROAS in retail media. When a single campaign’s return can swing wildly — up to 6.5x — based purely on methodology, it raises some uncomfortable but necessary questions. I walk through the biggest critiques that surfaced from practitioners and academics, and why this debate matters more than ever for brands trying to make sense of their performance data.I also share how the authors of the study responded to the pushback, and what they didn’t address. More importantly, we get into what this all means for real-world advertisers, especially mid-market brands navigating opaque reporting standards. If you’ve ever questioned whether your campaign results are telling the full story, this episode will give you a fresh lens to evaluate retail media measurement.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why controversial research is better than silence, and what sparked this debate[00:31] – The headline finding: iROAS can vary dramatically depending on measurement methodology[01:24] – Key critique: Are these methodologies even comparable in the first place?[02:07] – The BSTS debate: causal method or misapplied forecasting tool?[03:08] – A practical question: What are brands actually using iROAS for?[04:30] – The authors respond: what the study was, and wasn’t, designed to prove[05:39] – What mid-market brands should do next: pushing for transparency and better disclosureLinks & ResourcesThe white paper in question, titled iROAS Demystified, is a collaboration between Albertsons Media Collective, Ovative Group, and professors from Northwestern University's Kellogg School of Management. My original article on the white paper: iROAS results can be easily gamed. But we shouldn't just throw it awayThe LinkedIn comment thread in which the research was fiercely debatedCheck out Prof. Koen Pauwels' Substack Amazon DaysRead my related articles:Why ROAS Refuses To DieRetail Media's Measurement Problem: It's Not Just the Retailers'Not 100% altruistic': ad measurement veteran on what retail media is really optimizing forOn Thursday May 7 I am hosting a LinkedIn Live event: How Kroger Precision Marketing Is Plugging Into National Brand Budgets ! Join me, Christine Foster (head of Kroger Precision Marketing) and Jon Flugstad (Metarouter) to hash out the details of Kroger's partnership with DV360 and how this development is a sign of maturity in the retail media ecosystem. Bring your questions, we'll be doing this LIVE.I'm keynoting at Xnurta's Signal to Scale summit on May 19 in Chicago. This is the room to be in if you work in retail media, care about what AI actually changes, and want to leave with something you can put to work. A full day focused on agentic AI, modern measurement, and the strategies the best teams are already building toward. Reserve your spot here.I'm sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Last week, I had the opportunity to moderate a powerhouse panel at the The Drum's inaugural Global Commerce Leaders Forum in Miami. And let me tell you, the insights that came out of our lightning round were too good not to share. I asked each expert a simple but loaded question: What’s one thing you’d fix in the next 12 months to make retail media networks more mature? The answers cut straight to the core of where this industry is headed.In this episode, I break down the most compelling takeaways. From why we need to reconnect retail media with its retail roots, to the urgent need for better collaboration, clearer measurement, and a long-term vision. If you’re building, buying, or scaling within retail media, this conversation will challenge how you think about growth and what really drives impact.This episode is sponsored by Mirakl AdsTimeline[00:00] – Setting the stage: Highlights from the Global Commerce Leaders Forum panel[01:05] – Why it’s time to “bring the retail back” to retail media[02:00] – How performance data is winning over merchants and driving adoption[03:30] – The industry’s biggest challenge: agreeing on measurement and “the math”[05:45] – Finding your North Star in a maturing and more competitive landscape[07:45] – Breaking down silos to unlock the next phase of retail media growthLinks & ResourcesContent from The Drum's 2026 Commerce Media Global Leaders’ ForumRead my related articles:Ace Hardware's RedVest Media: Notes From My Interview With Molly HjelmBrands Are From Mars, Retailers Are From VenusRetail Media's Measurement Problem: It's Not Just the RetailersOn Thursday May 7 I am hosting a LinkedIn Live event: How Kroger Precision Marketing Is Plugging Into National Brand Budgets ! Join me, Christine Foster (head of Kroger Precision Marketing) and Jon Flugstad (Metarouter) to hash out the details of Kroger's partnership with DV360 and how this development is a sign of maturity in the retail media ecosystem. Bring your questions, we'll be doing this LIVE.I'm keynoting at Xnurta's Signal to Scale summit on May 19 in Chicago. This is the room to be in if you work in retail media, care about what AI actually changes, and want to leave with something you can put to work. A full day focused on agentic AI, modern measurement, and the strategies the best teams are already building toward. Reserve your spot here.I am sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

I’m coming to you a little under the weather today, but this recap of my recent article for The Drum was too important not to share. In this episode, I break down Kroger’s new YouTube integration and why it could be a turning point for retail media networks trying to crack into elusive national brand budgets.I dig into what Kroger Precision Marketing actually built with Google’s DV360, why it matters for both measurement and media buying workflows, and how this move could finally align retail media with the expectations of brand marketers. If you’ve been wondering what it really takes to unlock CMO-level budgets, this episode connects the dots, and challenges the old playbooks many of us have been relying on.This episode is sponsored by Mirakl AdsTimeline[00:00] – I kick things off (slightly sick!) and introduce Kroger’s YouTube integration[01:00] – Why retail media networks are struggling to unlock brand budgets[01:30] – What Kroger’s DV360 integration actually enables for advertisers[02:15] – The three biggest barriers to brand budget adoption and how Kroger addresses them[03:00] – Why YouTube video changes the game for emotional brand storytelling[04:00] – The measurement breakthrough: SKU-level attribution and real-time optimization[06:00] – Why workflow simplicity (and fewer dashboards) is a bigger deal than you think[08:30] – What happens when online ads connect to in-store purchases (and why that’s the real test)Links & ResourcesMy article on The Drum: Kroger’s YouTube deal is the brand budget bridge retail media has been waiting forRead my related articles:iROAS results can be easily gamed. But we shouldn't just throw it awayThe ‘Costco Velocity’ Tech Stack Is Coming Together. Here's How the Pieces Fit.Brian Monahan's 'Bloody Obvious' Bets Are Shaking Up Albertsons Media CollectiveNEXT WEEK on Thursday May 7 I am hosting a LinkedIn Live event: How Kroger Precision Marketing Is Plugging Into National Brand Budgets ! Join me, Christine Foster (head of Kroger Precision Marketing) and Jon Flugstad (Metarouter) to hash out the details of Kroger's partnership with DV360 and how this development is a sign of maturity in the retail media ecosystem. Bring your questions, we'll be doing this LIVE. I launched an Instagram account with comedy skits about the retail media industry! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I’m sharing highlights from a recent LinkedIn Live I hosted with Paul Brenner from In-Store Marketplace and Michelle Dooley from Catalyst Media Consulting. We dug into one of the most pressing challenges in retail media today: how we measure in-store performance, and whether the industry is actually optimizing for the wrong outcomes.We explored their new research report that proposes a shift away from overly narrow metrics like one-to-one attribution and toward a more meaningful standard: shopper purchase rate. The conversation unpacks why current scorecards are falling short, how in-store media is being misunderstood across stakeholders, and what a more unified, product-movement-driven measurement system could look like.This episode is sponsored by Mirakl AdsTimeline[00:00] – I introduce the core problem: whether we’re measuring in-store retail media the right way[01:04] – Paul Brenner breaks down the gap between RMN tech expectations and real-world retail execution challenges[02:39] – Michelle Dooley explains how “in-store” means very different things across brands, retailers, and RMNs[03:45] – Key research insights: in-store is broader than digital, and product movement is the dominant success metric[06:46] – Introduction of “shopper purchase rate” and why it’s emerging as a better measurement framework[09:00] – Why shopper purchase rate could unify RMNs and merchants around a shared scorecard and shift focus back to in-store effectivenessLinks & ResourcesFull webinar replay: In-Store Retail Media: Are We Measuring the Wrong Things? [New Research]Download the report: In-Store Media Has a Measurement Problem – Just Not the One You ThinkIn-Store Marketplace (ISM)Catalyst MediaFollow Paul Brenner, SVP, Global Retail Media and Partnerships @ In-Store Marketplace (ISM), on LinkedInFollow Michelle Dooley, Expert Advisor @ Catalyst Media, on LinkedInRead my related articles:In-Store Retail Media Evolved Differently in Europe. Here's Why.Who's Signing the Check For Experiential In-Store Media?Sam's Club Cracked the Code on In-Store Retail Media—Here's How They Did ItI am sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

I made the trek through Atlanta traffic to attend Home Depot’s Orange Apron Media upfronts, and let me tell you, it was absolutely worth it. In a year where brands are scrutinizing every dollar spent on travel and events, this one-day gathering managed to draw hundreds of suppliers from across the country. That alone says something. But what really stood out wasn’t just the announcements: it was how the event was designed.In this episode, I’m breaking down the seven smartest decisions Home Depot made with their upfronts. From resisting the urge to copy Amazon’s playbook to creating a tightly focused, high-impact experience for advertisers. If you’re building or scaling a retail media network, there are some seriously valuable lessons here about audience, format, messaging, and momentum.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why hundreds of suppliers showed up for a one-day event (and why that matters right now) [00:56] – Why Home Depot didn’t try to replicate Amazon’s “Unboxed” (and why that’s a good thing) [01:37] – The power of a closed advertiser ecosystem and how it becomes a strategic advantage [02:15] – Why putting merchants on stage before media teams sends a stronger message [02:58] – Serving three audiences at once: suppliers, partners, and internal teams [04:15] – How supplier voices and testimonials added credibility and broke up the sales pitch [05:41] – Why venue choice reinforced Home Depot’s brand identity [07:00] – The “narrow and deep” press strategy that led to meaningful coverageLinks & ResourcesMy OAM piece from last week: Orange Apron Media is leaning into the things only Home Depot can doKaren Jacobs from Emarketer's piece from last week: Home Depot deepens retail media push with Reddit and Pinterest partnerships and new toolsRead my related articles:Why Home Depot put its merchants on stage at its retail media upfronts (The Drum)Home Depot’s Retail Media Chief Puts Suppliers At The CenterThe ‘Costco Velocity’ Tech Stack Is Coming Together. Here's How the Pieces Fit.I launched an Instagram account with comedy skits about the retail media industry! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I’m taking you behind the scenes of a packed stretch of travel — three major industry events in just a few days — and using it as a jumping-off point to unpack a bigger question: are work trips and in-person events still worth it in today’s commerce media landscape?I dive into fresh data from my LinkedIn poll and explore the growing divide between those constantly on the road and those opting out entirely. I talk about budget pressures, decision fatigue, and the real, often unspoken value of being in the room. If you’ve ever felt torn between FOMO and JOMO when it comes to industry events, this episode will give you a clearer lens on how to think about where and when to show up.This episode is sponsored by Mirakl AdsTimeline[00:00] – A whirlwind week: juggling three major commerce media events across multiple cities[01:00] – Why I ran a LinkedIn poll on event attendance and what sparked the question[01:45] – The surprising stat: 28% of industry professionals aren’t attending any events[02:45] – The real reason behind declining attendance: budget pressure vs. calendar overload[03:30] – The explosion of commerce media events and why choosing is harder than ever[05:00] – Decision fatigue, FOMO vs. JOMO, and the emotional side of skipping events[06:00] – What makes an event truly worth attending in 2026Links & ResourcesRead my related articles:Writing From the Middle of the RoomMy Media DietGet On The Damn StageI am sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I’m focusing on my recent article for The Drum, breaking down what really stood out from Home Depot’s third annual Infronts event, and there’s more going on than just incremental progress. Sure, merchant alignment and the shift toward self-service are important, but what really caught my attention is how Orange Apron Media is doubling down on the things only Home Depot can do.From turning the Pro customer into a powerful media asset, to rethinking how in-store and online performance are measured, this episode explores how differentiation (not scale) is becoming the real competitive edge in retail media. I also dig into how tighter integration between media and merchandising data is changing the game for suppliers, and why Home Depot’s so-called “limitations” might actually be its biggest strengths.This episode is sponsored by Mirakl AdsTimeline[00:00] – Two major themes from InFronts: merchant alignment and self-service evolution[00:30] – Why Orange Apron Media is focusing on what makes Home Depot uniquely powerful[00:45] – The Pro customer as a high-value, deeply owned media audience[01:45] – Scaling in-store media: 1,400 stores and a layered retail media ecosystem[02:45] – Why paint is a top performer when you measure beyond e-commerce[04:00] – Connecting media spend to real sales through integrated analytics[06:30] – Home Depot’s hybrid tech stack strategy: build vs. buy decisions[07:15] – “Quirks are a feature”: turning specialization into a competitive advantageLinks & ResourcesMy article on The Drum: Why Home Depot put its merchants on stage at its retail media upfrontsRead my related articles:Home Depot’s Retail Media Chief Puts Suppliers At The CenterThe ‘Costco Velocity’ Tech Stack Is Coming Together. Here's How the Pieces Fit.‘Retail Media has a PR problem’ Says CVS Media Exchange's Parbs DhariwalI launched an Instagram account with comedy skits about the retail media industry! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I dig into a question that’s been coming up more and more from retail media leaders: Should we be measuring retail media the same way we measure national media? It sounds simple, but once you get into it, things get complicated fast. I share insights from experts across my network to unpack why there’s no clean, one-size-fits-all answer, and what brands should actually be doing instead.I explore the tension between commerce-specific measurement models and traditional marketing mix models. Where each one works, and where they fall apart. I also break down real-world failure modes, who should actually own measurement, and the critical mindset shift brands need to make before they even start analyzing performance. If you’ve ever struggled to reconcile ROAS, MMM, and retail media impact, this episode will give you clarity (and a few strong opinions).This episode is sponsored by Mirakl AdsTimeline[00:00] – The big question: Can retail media and national media be measured the same way?[01:00] – Why different objectives require different measurement frameworks[02:00] – The “camera lens” analogy: why one model can’t do it all[03:15] – What goes wrong when brands force a single MMM across everything[04:00] – How measurement issues start influencing business decisions (in the wrong way)[05:00] – Who really owns measurement: brands, agencies, or retail media networks?[07:30] – The maturity gap: why not all brands are ready for advanced measurement[08:15] – The key takeaway: define the job of each dollar before measuring successLinks & ResourcesRecap of my LinkedIn Live with Jordan Witmer from SALT XC: Whoever Owns the Budget Determines What Retail Media Is Allowed to BeRead my related articles:iROAS results can be easily gamed. But we shouldn't just throw it away'Not 100% altruistic': ad measurement veteran on what retail media is really optimizing forWhy ROAS Refuses To DieI'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HEREFollow my new Instagram account for comedy skits about the quirks of retail media @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

I recently had the pleasure of joining one of my favorite retail media podcasts, Unlocked, with Austin and Elizabeth. Today, I’m sharing a snippet from that conversation in which we get into something much more personal: my process as a writer, how I consistently create content, and why storytelling has become such a powerful tool in my work.I also open up about how I actually use AI in my day-to-day workflow (and why I still feel behind!), plus a storytelling framework that’s completely changed how I approach content. And to top it off, I share a slightly embarrassing — but very real — story from my early days in retail media that you likely haven’t heard before.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why I love the Unlocked podcast and what makes it different from typical retail media shows [00:45] – My real, unfiltered process for creating consistent content (yes, sometimes it’s last-minute) [02:00] – How I think about content ideas and why I never run out of things to say [03:00] – The AI tools I actually use (and how they help me scale output) [04:00] – My storytelling framework and the “Homework for Life” habit [08:00] – The origin of my retail media journey and the moment that changed everything [09:15] – The unexpected legal drama behind one of my booksLinks & ResourcesListen to my full appearance on UnlockedSubscribe to Unlocked with Austin and Elizabeth on Apple PodcastsFollow Austin Leonard, Vice President and General Manager of DG Media Network, on LinkedInFollow Elizabeth Neubauer-Donovan, EVP, Global Head of Commerce & Retail Media Networks @ Acxiom Omnicom, on LinkedInRead my related articles:Writing From the Middle of the RoomMy Media DietGet On The Damn StageI'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HEREFollow my new Instagram account for comedy skits about the quirks of retail media @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I'm unpacking a blind spot that completely changed how I’m thinking about AI’s impact on retail media. Recently I’ve been talking a lot about the long-term threat of agentic commerce — fewer ad surfaces, weaker first-party data— but there’s a more immediate issue already happening right now. AI agents are actively browsing retail sites, clicking around, and triggering ad impressions… without a human ever seeing a single ad.I walk through how this is quietly distorting ad metrics, inflating performance data, and concerningly, corrupting the behavioral signals that power retail media targeting. If AI agents are shaping audience data and driving “fake” intent, what does that mean for the entire measurement system? And are we even asking the right questions yet?This episode is sponsored by Mirakl AdsTimeline[00:00] – Why a Business of Fashion article made me rethink AI’s impact on retail media[00:45] – The structural threat of AI shopping agents to ad surfaces and first-party data[01:15] – How AI agents are already clicking ads, and why brands are paying for it[02:18] – The illusion of impressions: from humans scrolling to bots with no eyes[03:06] – The “relentless agent” problem: repeated clicks and inflated ad events[03:45] – How AI activity is poisoning behavioral data and audience targeting[05:36] – “Cost per human”: the emerging fix, and why it’s harder than it sounds[06:00] – What this means for retail media networks right now (not someday)Links & ResourcesBusiness of Fashion article: How AI Shopping Agents Are Reshaping Fashion’s Ad EconomyLearn more about AI analytics company DoubleVerifyRead my related articles:‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really IsDark Search, Broken Signals, and What Comes Next for Retail MediaAgentic Commerce Is a Sequencing Problem, Not an Existential OneI'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HEREFollow my new Instagram account for comedy skits about the quirks of retail media @retailmediabreakfastclub Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

In this episode, I dive into a fascinating recent conversation featuring Gildan’s Jason O’Toole on The CPG Guys podcast and unpack a powerful idea that stopped me in my tracks: brand media lowers the tax you pay on growth. If you’ve ever struggled to justify upper-funnel spend or connect brand investment to real performance outcomes, this one’s for you.I break down three key takeaways from the discussion, including how Gildan is structuring its teams to align brand and commerce, why traditional metrics like impressions are losing relevance, and what a high-impact Amazon campaign can teach us about speed, scale, and full-funnel execution. There’s a lot here that challenges conventional retail media thinking so let’s get into it!This episode is sponsored by Mirakl AdsTimeline[00:00] – Why apparel is one of the most competitive and margin-pressured categories in retail[01:12] – The idea that “brand media lowers the tax you pay on growth” and why it matters[02:40] – How budget ownership shapes the role retail media plays inside organizations[03:31] – Why impressions are a flawed metric and what to focus on instead[05:13] – The two metrics that actually matter: branded search and incrementality[06:30] – Inside Gildan’s Amazon homepage campaign and what made it so effectiveLinks & ResourcesListen to the full CPG Guys episode: Winning in Social Commerce with Gildan's Jason O'Toole & Katie TripodiSubscribe to The CPG Guys: Apple Podcasts and YouTubeFollow Jason O'Toole, Head of Connected Commerce & Media @ Glidan, on LinkedInFollow Katie Sierveld Tripodi, Director, Ecommerce Activation and Strategy @ Hanesbrands Inc., on LinkedInRead my related articles:iROAS results can be easily gamed. But we shouldn't just throw it away'Not 100% altruistic': ad measurement veteran on what retail media is really optimizing forEcommerce Signals Are Shrinking. Why Retailers Must Earn New OnesI'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HEREFollow my new Instagram account for comedy skits about the retail media industry @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I’m taking you behind the scenes of something I don’t talk about enough: what it really feels like to start over, even after years of experience. From launching a brand-new Instagram account @retailmediabreakfastclub with barely any followers, to reflecting on my early days writing “into the void,” I share the uncomfortable truth about building content, credibility, and confidence in public.I also dig into the process that’s helped me generate ideas consistently, navigate mistakes, and find my voice in a fast-moving industry like retail media. If you’ve ever struggled with imposter syndrome, wondered how to build your content muscle, or questioned whether your perspective is “enough,” this one’s for you.This episode is sponsored by Mirakl AdsTimeline[00:00] - Starting from zero (again!): launching Instagram after building a LinkedIn audience [01:00] - Writing in obscurity: the early days of publishing with no audience [01:30] - My breakthrough moment: landing a paid contributor role at Forbes [03:00] - Why quantity drives creativity (and how I generate endless content ideas) [04:20] - The power of being wrong: how mistakes lead to better, richer content [06:45] - “The middle of the room”: finding your voice between expertise and curiosity [09:45] - Getting comfortable being bad at something new (and why it matters)Links & ResourcesMy new Instagram account: @retailmediabreakfastclubRead my related articles:My Media DietGet On The Damn StageApply For The Damn AwardI'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HERESubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Not all shopping is created equal. And honestly, not all of it is fun. Today I'm unpacking the tension between the idea of AI-powered shopping and the reality of how we actually shop today. While we love the experience of discovering products and making intentional choices, a huge portion of shopping — especially groceries — is repetitive, operational and tedious.I explore where consumers are already signaling openness to AI assistance (hint: it’s not where you might think), and why the current tools still fall short of solving the real problem. From meal planning to managing the “messy middle” of grocery lists, I break down what’s missing, what’s coming, and why the future of agentic commerce may arrive faster than expected, once the technology finally catches up to demand.This episode is sponsored by Mirakl AdsTimeline[00:00] – My daily cooking ritual and why grocery shopping is the least enjoyable part[01:15] – The difference between “fun” shopping and repetitive shopping missions[01:37] – What consumer behavior data reveals about how we actually shop [02:15] – Where consumers are already comfortable letting AI step in [03:00] – A real-world example of DIY grocery automation [04:30] – Why current retail tools fail to solve the “messy middle” of shopping [06:00] – The trust gap in grocery delivery (yes, even bananas matter!) [08:30] – The real barrier to AI shopping adoption: technology, not psychology [10:00] – Consumer attitudes toward AI agents completing purchases [11:00] – What needs to happen before agentic commerce goes mainstreamLinks & ResourcesAndrea K. Leigh's LinkedIn post about the grocery ordering browser extension she builtFollow Andrea K. Leigh, Founder @ Allume Group, on LinkedInRead my related articles:Agentic Commerce Is a Sequencing Problem, Not an Existential OneDon’t Dance On The Grave Of Agentic Shopping Just YetHow To Be Right About AI, And Still LoseI'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HERESubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I'm unpacking a fascinating shift happening right under our noses in retail media — what has been coined “dark search.” I explore how AI-driven discovery is quietly reshaping the way consumers find and buy products. The big question: is this trend actually helping retail media grow, or is it eroding the very signals it depends on?I dive into two new pieces of research that seem to tell completely different stories: one suggesting AI is expanding the e-commerce pie, and the other arguing we’re flying blind when it comes to measuring its true impact. If you’re in retail, e-commerce, or media, this episode will challenge how you think about attribution, conversion, and the future of shopper behavior.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why I’m cautious about extrapolating from my own shopping habits and how the Hawthorne Effect plays into consumer behavior[00:45] – The “dark search” moment: how AI influenced my purchase before I ever hit a retailer’s site[02:01] – Criteo’s report: AI-driven traffic converts 1.5x higher and lands directly on product pages[03:45] – RefiBuy’s findings: up to 70% of AI-influenced traffic is invisible to analytics tools[05:00] – The shocking conversion rates of “dark” AI traffic and what that means for retailers[06:30] – Reconciling two opposing views: AI growth vs. measurement blind spots[08:00] – Why this shift could be a structural threat to retail media economicsLinks & ResourcesRead Criteo's 2026 Commerce & AI Trend ReportRead ReFiBuy's DACT piece by Scot Wingo on LinkedIn: Dark Agentic Commerce Traffic (DACT): Answer Engines Are Sending High-Intent Shoppers to your PDPs, But Your Analytics Miss >70%Read my related articles:‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really IsDark Search, Broken Signals, and What Comes Next for Retail MediaAgentic Commerce Is a Sequencing Problem, Not an Existential OneI'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HERESubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

The conventional wisdom says AI advertising is something for the future, but I’m not buying that. Today, I extrapolate on Debbie Ajo Williamson’s insights shared on a recent Retailgentic episode, and break down why AI ads are already here, moving fast, and reshaping how retail media works in real time. Debbie digs into what’s actually happening behind the scenes with ChatGPT’s ad rollout, and why this is far more than a simple experiment.I also unpack what this means for retailers: from early adoption trends to the emerging tension between platforms and brands, and ultimately where this is all headed. Finally, I delve into the idea that ads may soon stop targeting humans altogether, and start influencing AI agents instead. If you’re in retail media, this is one of those “pay attention now or regret it later” moments.This episode is sponsored by Mirakl AdsTimeline[00:15] - Why ChatGPT’s ad rollout is not a test: it’s the beginning of a major shift [01:15] - How early ad formats are intentionally simple (and why that matters) [03:00] - The “18 years vs. 18 months” comparison between Amazon and OpenAI [05:00] - Retailers jump in early and the rise of the “frenemy” dynamic [06:30] - The next wave of AI ad formats and evolving user interfaces [08:00] - The future of ads targeting AI agents instead of humansLinks & ResourcesListen to the full Retailgentic episode: The AI Ad Gold Rush: Inside ChatGPT’s Ad Test, Retail Media’s Next Battle, and the Rise of “AI Media” with Debra Aho WilliamsonSubscribe to Retailgentic: Apple Podcasts and YouTubeSubscribe to Debra Aho Williamson's newsletter: The AI Ad EconomyFollow Debra Aho Williamson, founder @ Sonata Insights, on LinkedInRead my related articles:ChatGPT Ads Are Here. I'm Not Panicking.What Is Your AI Agent Buying? [New Research]Should Your Industry Advertise in AI Media in 2026?I'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HERESubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

A few months ago, it felt like everyone in retail media was bracing for impact. Agentic commerce, zero-click search, and Gen AI were being treated as existential threats. But lately, I’ve noticed a shift. In this episode, I unpack what I’m hearing behind closed doors and on the ground at Shoptalk. The panic is cooling, and smarter, more strategic conversations are taking its place.I dive into what this transition actually means for retailers right now. Are they behind? Are they ignoring the disruption? Or are they playing a longer, more deliberate game? From Costco’s methodical approach, to Target’s massive AI overhaul, I explore why the real challenge isn’t reacting quickly: it’s building the infrastructure to respond at all. If you want to understand where retail media is truly headed in an AI-driven world, this episode is for you.This episode is sponsored by Mirakl AdsTimeline[00:00] – The 2025 survey that revealed retail media’s biggest fears around Gen AI and zero-click search [00:45] – Why the mood is shifting from panic to practical strategy among retail leaders[01:30] – Costco’s “order of operations” mindset and why patience may be a competitive advantage [03:00] – Why modular tech stacks and data layers are becoming critical for future AI integration [04:45] – Target’s bold move: rewriting 60% of its app to become AI-ready [07:00] – The shift toward focusing on onsite experience instead of chasing external AI trendsLinks & ResourcesEMARKETER/Bain survey from 2025: Retail Media, Unfiltered: What RMNs Told Us About Scaling, Struggling, and SucceedingReplay of my livestream with Mark Williamson (Costco) and Jon Flugstad (MetaRouter): Costco Retail Media & The Commerce Media Tech Stack 2.0Read my related articles:The 3 Ways Agentic Commerce Could Destroy Retail MediaDark Search, Broken Signals, and What Comes Next for Retail MediaThe Secret Hopes & Dreams of RMN LeadersWhile We Debate What's 'Really' Agentic, Retail Media's Foundation Is Already ShiftingSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

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

Recently an essay stopped me in my tracks. My friend Drew Cashmore (Chief Strategy Officer at Vantage) wrote a brilliant piece for his Retail Media Leapfrog Series newsletter that draws a surprising parallel between the famous Fermi Paradox and the current state of retail media. And with Drew's permission I'm sharing sections of his essay in today's podcast.The piece delves into a big, uncomfortable question: if retail media is such a massive opportunity, why are so few retailers actually winning? I walk through Drew’s concept of the “Retail Media Fermi Paradox” and unpack the structural challenges (what Drew calls “the great filters”) that are preventing most retailers from scaling. If you’ve ever wondered why the gap between Amazon/Walmart and everyone else keeps widening, this episode will get you thinking.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why I’m featuring Drew Cashmore’s essay and why it’s a must-read [00:39] – The original Fermi Paradox explained and why it matters here [02:15] – Introducing the “Retail Media Fermi Paradox” [03:00] – The shocking concentration: Amazon & Walmart dominate ~90% of spend [04:10] – Great Filter #1: The “tactic trap” and copying Amazon’s playbook [05:32] – Great Filter #2: The retail media “doom loop” and underinvestment [08:19] – Great Filters #3 & #4: Commoditization and fragmented tech stacks [09:30] – Quick preview: how retailers can break through these barriersLinks & ResourcesRead Drew Cashmore's essay: Retail Media Leapfrog Series: The Fermi ParadoxSubscribe to Drew's newsletter: Retail Media Leapfrog SeriesFollow Drew Cashmore, Chief Strategy Officer at Vantage, on LinkedInRead my related articles:The Retail Media Doom LoopRetail Media's Next Challenge: Proving Real Results7 Ways to Break the Retail Media Doom LoopSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I'm unpacking a fascinating conversation from a recent episode of the Unlocking Retail Media podcast with Andrew Covato and host James Avery that reframed how I think about measurement in retail media networks. If you’ve ever wondered why brands keep getting frustrated — or why retail media struggles to prove its value — this conversation gets right to the heart of it.I use snippets from the podcast to break down three major gaps that are holding retail media back, from misaligned measurement strategies to outdated data approaches. I also explore why the biggest ad platforms succeed where retail media often fails, what sophisticated advertisers are really asking for today, and how measurement needs to evolve to stay credible. If you're in retail media, brand marketing, or ad tech, this is an important primer on how to tackle measurement head on.This episode is sponsored by Mirakl AdsTimeline[00:00] - The recurring disconnect: why brands ask for data but get dashboards instead[01:09] - Lesson #1: Why big ad platforms win by staying measurement agnostic[04:00] - Lesson #2: Retail media is solving for the wrong measurement questions[05:15] - The shift from user-level attribution to aggregated modeling & experimentation[07:03] - Lesson #3: Why first-party lift is “grading your own homework”[09:00] - The measurement maturity curve: from attribution to incrementality to MMM[10:00] - The hidden problem: why most brands can’t actually evaluate the data they’re givenLinks & ResourcesListen to the full Unlocking Retail Media episode: Measurement Science and the Future of Performance with Andrew CovatoSubscribe to Unlocking Retail Media on Apple PodcastsFollow Andrew Covato, Founder & CEO @ Growth By Science, on LinkedInFollow James Avery, Founder & CEO @ Kevel , on LinkedInRead my related articles:83% of retail media campaigns can be gamed on iROAS. Here’s how (The Drum)Brands demand retail media standards. Retailers say it's too hard. Do they kind of have a point?Retail Media's Measurement Problem: It's Not Just the RetailersSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I’m revisiting a recent article I penned for The Drum and digging into something that feels almost counterintuitive in a world obsessed with AI and automation: the resurgence of print magazines, catalogs, and direct mail as powerful retail media channels. I share why Gen Z and millennials are actively seeking out physical, tactile experiences, and how that shift is creating a surprising opportunity for retailers and brands to reconnect with shoppers in more meaningful, high-trust environments.I also walk through real-world examples — from Costco to Amazon to retailers in Australia — who are already turning editorial content and print media into high-performing retail media assets. If you’ve been thinking about the future of retail media as purely digital, this episode might challenge that assumption. Because in an AI-driven shopping landscape, the most defensible advantage might just be sitting on your customer’s kitchen counter!This episode is sponsored by Mirakl AdsTimeline[00:00] – Why Gen Z is rediscovering print, vinyl, and physical retail experiences[01:02] – How AI-powered shopping is threatening traditional retail media margins[01:37] – The overlooked opportunity in retailer magazines and print media[02:03] – Costco Connection: scale, trust, and measurable purchase influence[04:15] – Bunnings and building a retail media network around print content[06:19] – Chemist Warehouse and turning content into a full media brand[08:00] – The rise of programmatic direct mail and why it’s outperforming digital[09:32] – Escaping the retail media “doom loop” with editorial strategiesLinks & ResourcesMy original article on The Drum: The humble magazine might be retail media's most defensible surfaceRead my related articles:Dark Search, Broken Signals, and What Comes Next for Retail MediaStanding Room Only: What Shoptalk Attendees Wanted Most Wasn’t on the Main StageWhile We Debate What's 'Really' Agentic, Retail Media's Foundation Is Already ShiftingAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Last year, I found myself navigating chaotic scooter traffic in Thailand, only to realize how dramatically things can change with just a little extra weight. And honestly, that experience became the perfect metaphor for something I see all the time in retail media: people trying to compare markets like the US and Europe as if they’re built the same… when they’re absolutely not.Today I'm unpacking a fascinating conversation I had with Adam Smith from Iceland and Daniel Torres Dwyer on the FMCG Guys podcast. We dig into the real reasons why retail media has evolved so differently across regions: from geography and regulation to e-commerce penetration and legacy trade structures. If you’ve ever wondered whether the US is “behind” in-store retail media (or if those comparisons even make sense), this one will challenge how you think about the entire landscape.This episode is sponsored by Mirakl AdsTimeline[00:36] – Why retail media comparisons across markets can break down [01:26] – Setting the stage: US vs UK retail media discussion with Adam Smith [02:00] – Adam on scale differences and the challenge of in-store digital rollout [03:07] – I break down the structural reasons the US market operates differently [04:07] – GDPR and why offsite retail media is more developed in the US [05:00] – The Robinson-Patman Act and its hidden impact on retail media budgets [06:10] – Industry debate: are we measuring the wrong things across markets? [09:30] – Why “US is behind in-store” is a misleading narrative [11:25] – Final takeaway: different markets, different paths, and what we can learnLinks & ResourcesListen to the full FMCG Guys ep: Adam Smith, Head of Retail Media at Iceland and Kiri MastersSubscribe to The FMCG Guys on YouTube and Apple PodcastsFollow Adam Smith, Head of Retail Media @ Iceland, on LinkedInFollow Daniel Torres Dwyer, Founder @ Dwyer Partners, on LinkedInRead my related articles:Why US Retail Media Hits DifferentAgentic Shopping Poses An Existential Threat To Retail Media (Part 2)Why RMNs Keep Their Tech Stacks SecretAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

At Shoptalk last week, I noticed something that really stuck with me; and it wasn’t happening on the main stage. The sessions that had an overflow of attendees sitting on the floor weren’t the big, flashy keynotes… they were the practical, roll-up-your-sleeves workshops. That tells you everything you need to know about where retail leaders are at right now. Today I’m breaking down what I heard in the “corridor track”. The real conversations happening between sessions. Why AI-powered discovery is becoming the new battleground, how brands are rethinking where their next dollar goes, and why change management — not technology — is the biggest thing slowing teams down. If you’re trying to figure out what actually matters heading into the next phase of retail media, this one’s for you.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why the most in-demand sessions at Shoptalk weren’t on the main stage[01:18] – Discovery becomes the new battleground in an AI-compressed digital shelf [02:45] – The rise of multi-layered product detail pages built for humans, SEO, and AI [04:00] – Why the “next best dollar” is now a full business decision, not just marketing [05:00] – Rethinking measurement: patience, strategy, and long-term growth [06:16] – The real bottleneck: how internal processes are slowing AI adoption [08:00] – The overlooked surge of social commerce and embedded shopping experiencesLinks & ResourcesWatch Rick Watson's live recording of the ShopTalk floor: Shoptalk 2026: What Nobody Said Out Loud About Agentic CommerceRead my related articles:The Corridor Track At ShoptalkRetail Media's Next Challenge: Proving Real ResultsAre AI Ads the Next Big Ad Surface? How Retail Media Can ThriveAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

I’m coming to you live from Shoptalk 2026 in Las Vegas, and this ep is packed with rapid-fire insights straight from the show floor. I pulled together six of the smartest voices in retail media to break down what’s actually happening right now beyond the buzzwords. From agentic commerce debates to Meta’s push into in-store data, we’re unpacking the trends that could reshape how brands and retailers work together.We dig into the following: Is AI really going to change how we shop? Why are retailers expanding into offsite media in a more controlled way? And what role does content, especially video, play in the next phase of commerce? If you want a pulse check on where retail media is heading in 2026, this is one you don't want to miss.This episode is sponsored by Mirakl AdsTimeline[00:00] – Live from Shoptalk: rapid-fire industry insights straight from the show floor[01:00] – The agentic commerce debate: will consumers really hand shopping over to AI? [02:30] – Meta’s new in-store data play and the shift toward full-funnel performance metrics [04:45] – Retailers moving offsite: why controlled expansion is the new strategy [06:45] – Innovation overload: how commerce media is evolving across industries [07:15] – Why content, not hype, is the key to making agentic commerce actually work [08:45] – Retail media’s identity shift: from monetization channel to growth driverLinks & ResourcesFollow Kathryn Lundstrom, Commerce and Sustainability Editor @ ADWEEK, on LinkedInFollow Alex R. Arnott, Sr. Director of Retail Media Monetization @ dentsu, on LinkedInFollow Tom Limongello, Host @ The Middlemen Podcast, on LinkedInFollow Saket Mehta, Chief Revenue Officer @ Nift, on LinkedInFollow Leah Logan, Growth Marketing @ Inmar Intellingence, on LinkedInFollow Derek T. Nelson, Sr. Director, Measurement & Retail Media Consulting @ Ovative Group, on LinkedInRead my related articles:Five Ad Servers, Four Takeaways, and One Thread That Tied RampUp Together"We're All Holding Our Breath"‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really IsAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

In Part 4 of the Agentic Commerce Expert Series, we dive into one of the biggest emerging questions in retail media right now: what happens when ads enter AI experiences? With OpenAI and other LLM platforms beginning to experiment with advertising, there’s a lot of speculation (and skepticism) about how this will impact user trust, relevance, and ultimately, performance.I’m once again joined by Amelia Van Camp from Mirakl, and together we unpack what “agentic advertising” really means, why relevancy is about to go into overdrive, and how both retailers and brands can prepare without guessing where formats will land. We also explore how data, intent-based attributes, and orchestration will shape the winners in this next wave of commerce. If you’re wondering how to stay ahead as AI reshapes the ad landscape, this one’s for you!This episode is sponsored by Mirakl AdsTimeline[00:00] – Why AI platforms must monetize and what that means for ads in LLMs [01:13] – How OpenAI is introducing ads without breaking user trust [02:00] – “Relevancy on steroids” aka the future of AI-powered ad targeting [03:30] – Why advertisers, not just platforms, own the responsibility for relevance [05:37] – Practical steps retailers should take now to prepare for agentic commerce [08:13] – What “orchestration layer” really means in modern retail media tech [10:00] – Why brands aren’t powerless and how they can influence AI-driven discoveryLinks & ResourcesCheck out the complete Agentic Commerce Expert Series:Part 1: Discovery Has Moved Upstream. Here's What That Means for Retailers.Part 2: When the PDP Becomes the HomepagePart 3: Ecommerce Signals Are Shrinking. Why Retailers Must Earn New OnesDownload Mirakl's agentic commerce white paper: Why marketplaces & dropship platforms win in the agentic commerce eraFollow Amelia Van Camp, Head of Agentic Commerce at Mirakl, on LinkedInRead my related articles:Why OpenAI's Ad Network Should Concern RMNs‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really IsWhile We Debate What's 'Really' Agentic, Retail Media's Foundation Is Already ShiftingAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

In August 2025 I broke down why so many retail media networks keep their ad tech stacks hidden. And to be honest, the reasons weren’t exactly flattering. But what happens when a major retailer does the exact opposite? In today's episode, I share highlights from my recent livestream with Mark Williamson, AVP of Retail Media at Costco, and Jon Flugstad, Chief Business Officer at MetaRouter, and unpack a bold move from Costco that’s turning heads across the industry: full transparency.We dive into what really happened when Costco revealed its entire tech stack, why that matters for brands and agencies, and whether transparency is actually influencing ad spend, or simply generating buzz. Plus, I explore what this could mean for the future of retail media.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why retail media networks hide their tech stacks (and the 5 real reasons behind it)[00:24] – Survey results: 88% of brands say tech transparency impacts spend[00:30] – Costco reveals its full tech stack live on stage — why it shocked the industry[01:44] – What “transparency” actually means to advertisers beyond just reporting[02:43] – Costco’s philosophy: winning trust through honesty (even with imperfections)[03:15] – How Costco uses its tech stack to justify capabilities and limitations[04:04] – The strict data principles guiding Costco’s retail media strategy[07:21] – Is transparency driving real ad dollars or just curiosity?Links & ResourcesFull replay of my livestream with Mark Williamson (Costco) and Jon Flugstad (MetaRouter): Costco Retail Media & The Commerce Media Tech Stack 2.0Follow Mark Williamson, AVP of Retail Media at Costco on LinkedInFollow Jon Flugstad, Chief Business Officer at MetaRouter on LinkedInRead my related articles:Why RMNs Keep Their Tech Stacks SecretCostco Is The First US RMN To Reveal Its Entire Tech Stack‘Retail Media has a PR problem’ Says CVS Media Exchange's Parbs DhariwalAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I’m digging into a refreshingly honest and frankly rare take from Parbinder Dhariwal, VP, General Manager at CVS Media Exchange (CMX). Instead of the usual hype around retail media growth, he’s calling out what the industry is getting wrong… and why that could slow everything down if we don’t fix it.By analysing audio clips with Parbs on The CPG Guys, Beyond The Shelf, and Floor 9 (links to the full episodes below), I break down why retail media may have a credibility problem, from forced ad spend to murky measurement, and what needs to change if we want to unlock bigger brand budgets. I also explore why transparency, standardized metrics, and true closed-loop attribution are becoming non-negotiable, and how CMX is positioning itself to lead in that shift.This episode is sponsored by Mirakl AdsTimeline[00:21] – The bold claim: retail media has a PR problem (and why that matters)[01:06] – Why proving ROI is critical to sustaining retail media growth[01:31] – The transparency gap: modeling vs. real performance data[02:15] – Rising skepticism from brands and the “money grab” perception[03:07] – The real opportunity: unlocking national brand (CMO) budgets[05:25] – Why transparency is a core pillar of CVS Media Exchange’s strategy[07:00] – Slowing growth and the future: accountability as a competitive advantageLinks & ResourcesParbs on The CPG Guys: Harnessing The Power of The Everyday Purchase with CVS Media Exchange's Parbinder DhariwalParbs on Beyond The Shelf: Bringing Joy to Your Business with CVS Media Exchange's Parbinder DhariwalParbs on Floor 9: The Evolution of Retail Media Networks (Ft. Parbinder Dariwhal from CVS Media Exchange)Follow Parbinder Dhariwal, VP, General Manager at CVS Media Exchange (CMX), on LinkedInSubscribe to The CPG GuysSubscribe to Beyond The ShelfSubscribe to Floor 9Read my related articles:CVS Media Exchange’s Parbinder Dhariwal gets candid about retail media’s credibility gap (The Drum)Inside Mars's Retail Media Investment MatrixRetail Media's Next Challenge: Proving Real ResultsAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I’m breaking down a jaw-dropping development from Google that could fundamentally reshape how we think about paid traffic, brand control, and the role of landing pages in e-commerce. After reading a standout piece from Jo Lambadjieva's AI for Ecommerce and Amazon Sellers newsletter (link to Jo's article below), I knew I had to share it with you. Because if this plays out, it changes everything.I walk through Google’s newly granted patent that allows AI to replace your carefully crafted landing pages with its own personalized versions: built in real time and inserted directly into your paid ads. What does that mean for your brand, your attribution, and your ad spend? Are we heading toward a future where Google owns the entire commerce funnel? Let’s unpack the implications and what you should be doing now to stay ahead.This episode is sponsored by Mirakl AdsTimeline[01:01] – Breaking down Google’s new patent and what it actually allows them to do[02:00] – The shocking reality: you pay for the click, but Google controls the landing page[03:07] – Why this impacts far more brands than just “bad” landing page experiences[04:00] – Inside the AI engine: how Google dynamically builds personalized pages for users[05:30] – The big risks: loss of brand control, murky attribution, and paying for someone else’s page[07:16] – How this fits into Google’s broader AI commerce ecosystem (Gemini, AI Overviews, and more)[09:30] – What e-commerce operators should do now to future-proof their businessLinks & ResourcesRead the full article: Google Just Patented the Right to Replace Your Landing Page.Subscribe to Jo's newsletter: AI for Ecommerce and Amazon SellersFollow Jo Lambadjieva on LinkedInRead my related articles:When the PDP Becomes the HomepageEcommerce Signals Are Shrinking. Why Retailers Must Earn New OnesRetail Media 3.0Atlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I dig into a major shift happening in retail media: the signals we’ve relied on for years are starting to disappear. As discovery moves upstream into AI and LLM-driven experiences, the traditional browsing journey is shrinking, and with it, the data retailers depend on. So what does that mean for the future of retail media?In Part 3 of this Agentic Commerce Expert Series I’m joined by Amelia Van Camp from Mirakl, and we unpack why so many AI shopping assistants are falling short, what retailers are getting wrong in the race to adopt new tech, and how to design experiences that actually earn customer engagement. We also explore the growing importance of product truth, trust, and why both retailers and brands need to rethink how they show up in this new ecosystem.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why shrinking customer journeys mean shrinking retail media signals[00:55] – The real reason AI shopping assistants are failing (even when the tech works)[02:00] – Why having a clear strategy matters more than rushing to launch[02:45] – The “eyes bigger than stomach” problem with overbuilt retail experiences[03:30] – How retailers can use existing customer data instead of starting from scratch[05:00] – The rising importance of product truth, trust, and accurate information[06:30] – How poor customer experiences can hurt AI-driven discoverability and rankings[07:45] – Why retailers must design moments that earn engagementLinks & ResourcesPart 1 of this series: Discovery Has Moved Upstream. Here's What That Means for Retailers.Part 2 of this series: When the PDP Becomes the HomepageDownload Mirakl's agentic commerce white paper: Why marketplaces & dropship platforms win in the agentic commerce eraFollow Amelia Van Camp, Head of Agentic Commerce at Mirakl, on LinkedInRead my related articles:Why OpenAI's Ad Network Should Concern RMNs‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really IsWhile We Debate What's 'Really' Agentic, Retail Media's Foundation Is Already ShiftingAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

OpenAI quietly pulled the plug on Instant Checkout inside ChatGPT and the internet immediately declared agentic commerce dead. But I think that conclusion misses the bigger picture. In this episode, a summary of my recent article for The Drum, I unpack why the failure of one implementation doesn’t mean the behavior itself is going away.I share my own real-world experience making an agentic purchase through ChatGPT (spoiler: it didn’t exactly change my life), and then we explore why OpenAI’s checkout model struggled while similar AI-driven commerce experiences are already thriving elsewhere. From China’s fully integrated AI commerce ecosystems, to the emerging moves from Amazon and Google, I break down what’s actually happening beneath the headlines, and why retailers should still be paying very close attention.This episode is sponsored by Mirakl AdsTimeline[00:00] – I share my first fully agentic purchase through ChatGPT and why the experience didn’t make me come back for more.[01:02] – OpenAI deprioritizes Instant Checkout and sends transactions back to retailer sites. What actually happened behind the scenes?[02:15] – Why a failed checkout model doesn’t mean agentic commerce itself is dead.[03:00] – Alibaba’s AI assistant proves agentic shopping can work: when one company controls the AI, marketplace, payments, and logistics.[04:18] – The TikTok Shop lesson: new shopping behaviors succeed when commerce feels like a natural extension of apps people already love.[05:07] – Why AI-driven discovery still threatens the $60B retail media industry (even without instant checkout).[08:19] – The shopping journey is already being rewired by AI, but the real challenge is the final 10%Links & ResourcesMy full post on The Drum: OpenAI is killing Instant Checkout. Don't dance on the grave of agentic shopping yetRead my related articles:When the PDP Becomes the Homepage‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really IsI Really, Really Hoped That Ads in AI Wouldn't Suck. Now We Find Out.Join me and Jordan Witmer from Salt XC at 11am ET Tuesday March 17, for our next LinkedIn Live on Sponsored Product Ads: shelf space or ad space?. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Last week I shared some of the hallway chatter from the RampUp conference. And in this episode, I’m emptying the rest of my notebook. One theme kept surfacing everywhere I turned: data collaboration. It wasn’t just a buzzword on stage; it was the real factor determining which retail media networks are winning brand budgets, which ones are falling behind, and who gets invited back next year.I walk through five of the most interesting insights — from how major CPG brands are scoring retail media networks against Google and Meta, to why platforms like DoorDash are climbing rapidly in media investment priority. I also unpack the growing push for self-service tools, the surprising complexity behind ad serving infrastructure, and what makes a customer event like RampUp genuinely impactful.If you work in retail media, brand marketing, or commerce media strategy, these observations offer a behind-the-scenes look at how the industry is evolving right now (and where the next wave of investment is headed).This episode is sponsored by Mirakl AdsTimeline[00:12] – Why data collaboration was the defining theme across sessions, panels, and hallway conversations at RampUp.[00:43] – How major CPG brands are using structured scorecards and investment matrices to rank retail media networks.[02:37] – Inside the panel I moderated: how DoorDash moved from a small test budget to a priority media channel for brands.[05:45] – Why CPG brands are pushing retailers toward self-service media platforms and how data access is driving that demand.[07:30] – The hidden operational complexity of retail media networks, including why some organizations run multiple ad servers.[09:03] – What LiveRamp’s RampUp event gets right—and why it’s becoming a blueprint for industry customer events.Links & ResourcesMy RampUp hallway convo recap from last week: "We're All Holding Our Breath"Read my related articles:Inside Mars's Retail Media Investment MatrixRetail Media's Next Challenge: Proving Real ResultsDark Search, Broken Signals, and What Comes Next for Retail MediaJoin me and Jordan Witmer from Salt XC at 11am ET Tuesday March 17, for our next LinkedIn Live on Sponsored Product Ads: shelf space or ad space?. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Last week at the LiveRamp RampUp conference, I moderated a panel with DoorDash Ads’ Peter Giordano and Nestlé’s Nicole Lesinski. The conversation revealed something that a lot of retail media networks have been wondering about: how big CPG brands actually decide where their retail media dollars go.In this episode, I break down Nicole’s candid explanation of how Nestlé ranks and evaluates retail media networks (using a structured grid that compares retailers not only to each other but also to giants like Google and Meta). I also unpack why measurement and incrementality are still major hurdles internally at even the largest brands, and how new testing approaches are helping teams make the case for more commerce media investment.This episode is sponsored by Mirakl AdsTimeline[00:00] – I recap a panel I moderated at LiveRamp’s RampUp conference with DoorDash Ads and Nestlé’s frozen division.[01:05] – Nestlé’s “rank and stack” approach: how the company evaluates retail media networks using a capability and scale grid.[01:32] – Why retail media networks are actually competing with Google and Meta for budget (not just other retailers).[02:15] – The pressure inside large CPGs to justify every media dollar with clear sales attribution.[03:09] – DoorDash’s “ghost ads” incrementality testing method and why it matters for internal credibility.[04:48] – How DoorDash moved from “pennies” in Nestlé’s budget to becoming a leader in their retail media investment.Links & ResourcesFollow Nicole Lesinski, Director of Ecommerce Strategy at Nestlé, on LinkedInFollow Peter Giordano from DoorDash Ads on LinkedInRead my related articles:“We’re all holding our breath” [Recap of RampUp 2026]Brands demand retail media standards. Retailers say it's too hard. Do they kind of have a point?Why Brands Are Building Their Own Operating Systems On Top Of Retail MediaInside Mars's Retail Media Investment MatrixChallenger Brands: Being Heavy On  Sponsored Products Is a Feature, Not a BugJoin me and Jordan Witmer from Salt XC at 11am ET Tuesday March 17, for our next LinkedIn Live on Sponsored Product Ads: shelf space or ad space?. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

In episode 2 of this four-part Agentic Commerce Expert Series (sponsored by Mirakl Ads), we explore how AI is quietly reshaping the way consumers shop online, and why that shift could fundamentally change the role of the product detail page (PDP). As more shoppers use LLMs like ChatGPT to research products before ever visiting a retailer’s site, they’re increasingly landing directly on a single product page with their decision already made. That means fewer browsing moments, fewer signals, and potentially big implications for retail media.I’m joined once again by Amelia Van Camp, Head of Agentic Commerce at Mirakl, to unpack what this new “AI-shaped” shopping journey means for retailers and brands. We discuss why the PDP might effectively become the new homepage, how retailers can design better onsite experiences for these shortened journeys, and why tactics like sampling, loyalty programs, and smart product adjacencies could become more important than ever.This episode is sponsored by Mirakl AdsTimeline[00:00] – I introduce the idea that in an AI-driven shopping journey, the product detail page may effectively become the new homepage.[01:00] – I share my own shopping experience researching a product in ChatGPT and going straight from research to a PDP and checkout.[02:25] – Amelia explains why retailers should rethink PDPs as “mini homepages” when traffic comes from LLMs and AI assistants.[03:06] – We discuss designing the ideal shopper journey when a customer lands directly on a product page.[04:27] – I talk about opportunities like upsells, sampling, and post-purchase engagement without overloading the user experience.[05:11] – Amelia explains how shorter journeys could disrupt traditional retail media signals and why experimentation is essential.[06:40] – We explore why loyalty programs may be making a comeback in an AI-driven commerce environment.Links & ResourcesPart 1 of this series: Discovery Has Moved Upstream. Here's What That Means for Retailers.Download Mirakl's agentic commerce white paper: Why marketplaces & dropship platforms win in the agentic commerce eraFollow Amelia Van Camp, Head of Agentic Commerce at Mirakl, on LinkedInRead my related articles:Why OpenAI's Ad Network Should Concern RMNs‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really IsWhile We Debate What's 'Really' Agentic, Retail Media's Foundation Is Already ShiftingJoin me and Jordan Witmer from Salt XC at 11am ET Tuesday March 17, for our next LinkedIn Live on Sponsored Product Ads: shelf space or ad space?. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I'm recapping a recent article I published on The Drum and digging into some of the ethical dilemmas emerging inside the retail media industry. The conversation was sparked by a very public campaign from my former boss, Jared Belsky, CEO of Acadia, challenging agencies to return media rebates to clients. If traditional media has ethical gray areas around incentives and transparency, what does the retail media version look like?Retail media has built its reputation on transparency, performance measurement, and closed-loop attribution. But as the dollars grow and the ecosystem matures, new tensions are surfacing. I explore five ethical challenges: from brands funding their own competition to agency incentives, consulting projections, industry echo chambers, and the subtle influence of corporate hospitality. If retail media wants to maintain its reputation as the “cleaner” alternative to traditional advertising, these are the questions the industry needs to confront.This episode is sponsored by Mirakl AdsTimeline[00:00] – What are the ethical dilemmas in retail media?[01:33] – How private label products benefit from retail media systems funded by national brands.[03:15] – How retail media deals and perks can quietly tilt the playing field toward larger agencies and brands.[06:36] – Consultants selling the retail media dream: when hockey-stick projections collide with operational reality.[08:30] – Industry events with retailers, consultants, and vendors, but too few brand voices.[09:00] – Corporate hospitality and influence: from cabanas at Cannes, to the broader question of where investment should really go.Links & ResourcesMy full post on The Drum: Retail media’s dirty laundry: What skeletons are hiding in the closet?Jared Belsky in Adweek: Why I Returned Six-Figures in Media Rebates To Clients In 2025Follow Jared Belsky, CEO of Acadia, on LinkedInRead my related articles:Whoever Owns the Budget Determines What Retail Media Is Allowed to BeBrands demand retail media standards. Retailers say it's too hard. Do they kind of have a point?Why Brands Are Building Their Own Operating Systems On Top Of Retail MediaJoin me and Jordan Witmer from Salt XC at 11am ET Tuesday March 17, for our next LinkedIn Live on Sponsored Product Ads: shelf space or ad space?. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

I just got back from LiveRamp’s RampUp conference, one of the most interesting gatherings in commerce media right now. If you work in retail media, data collaboration, or advertising measurement, this event has become a must-watch moment for where the industry is heading. In 2026, the big theme running through the conference halls was offsite retail media and the role of first-party data. But the real insights came from the hallway conversations.I grabbed a few industry peers and asked them for their honest takeaways from RampUp. We talked about the AI inflection point everyone is feeling, the uncertainty around agentic AI, the real pace of disruption in retail media, and why data might still be the industry’s biggest missed opportunity. If you want a quick pulse check on how leaders across the ecosystem are thinking about what’s next, this episode gives you exactly that.This episode is sponsored by Mirakl AdsTimeline[00:00] – My overview of RampUp 2026 and why first-party data and offsite retail media dominated the conversation.[01:00] – Ian Simpson (Sensor Tower) shares why the industry feels like it’s at a strange AI inflection point, with excitement, uncertainty, and plenty of unanswered questions.[02:15] – The vibe shift from two years ago: instead of scrambling to solve the cookie-less future, many companies now feel like they’re “holding their breath” waiting to see what happens next.[02:45] – Sean Crawford (SMG North America) weighs in on agentic AI and why it’s unlikely to disrupt retail media or shopping behavior overnight.[04:00] – Nicole Lesinski (Nestlé USA) talks about collaborating with partners like DoorDash and how brands are using data clean rooms to turn insights into action.[07:00] – Praveen Menon explains how AI could eventually transform media planning, making it possible to test and execute strategies in minutes instead of days.Links & ResourcesFollow Nicole Lesinski, E-Commerce Strategy Lead, Frozen Division, Nestle USA, on LinkedInFollow Praveen Menon, former Senior Director of Product Management, Bridg, on LinkedInFollow Sean Crawford, Managing Director, SMG North America, on LinkedInFollow Ian Simpson, SVP of Innovation & Strategy, Sensor Tower on LinkedInRead my related articles:Dark Search, Broken Signals, and What Comes Next for Retail MediaWhy OpenAI's Ad Network Should Concern RMNsRufus Is Already Reshaping How Amazon Shoppers DecideJoin me and Jordan Witmer from Salt XC at 11am ET Tuesday March 17, for our next LinkedIn Live on Sponsored Product Ads: shelf space or ad space?. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Retail media networks want brand dollars — that part isn’t new. But what is new (and honestly, under-discussed) is the uncomfortable reality that many brands are structurally incapable of spending those dollars through retail media… even when they want to.In this episode of Retail Media Breakfast Club, I’m sharing highlights from my recent LinkedIn Live with Jordan Witmer of Salt XC. We unpack what really happens when retail media networks go after brand marketing budgets. And why the biggest barrier isn’t capability or demand: it’s internal budget ownership, misaligned KPIs, and wildly different definitions of “credible reporting.” If you’ve ever wondered why retail media feels like a slam dunk in one meeting and a total mismatch in another, this conversation will connect the dots!This episode is sponsored by Mirakl AdsTimeline[00:22] – What actually happens when retail media networks come calling for brand budgets?[01:03] – The single strongest predictor of how a brand will evaluate retail media: who owns the budget.[01:47] – The friction between sales teams and brand media teams, and why “streaming that goes everywhere” creates tension.[02:23] – The infamous brief: “Build awareness and drive sales.” Why vague objectives lead to what Jordan calls “franking campaigns.”[04:45] – What “credible reporting” really means, and why that definition completely changes depending on who you're talking to.[06:45] – How platforms like Meta cemented themselves in brand budgets, and what retail media networks can learn from their approach.Links & ResourcesWatch the full replay of my LinkedIn Live with Jordan Witmer of Salt XCLearn about Salt XCFollow Jordan Witmer on LinkedInRead my related articles:How Can RMNs Tap Upper-Funnel Brand BudgetsBrands demand retail media standards. Retailers say it's too hard. Do they kind of have a point?Why ROAS Refuses To DieAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

LLMs aren’t just answering questions anymore: they’re becoming the very first step of the shopping journey. In the kickoff episode of this four-part Agentic Commerce Expert Series (sponsored by Mirakl Ads), I sit down with Amelia Van Camp, Head of Agentic Commerce at Mirakl, to unpack what’s really happening as product discovery moves upstream into AI assistants.We get into what consumers are actually doing inside LLMs today, why 'discovery' now looks completely different from traditional search, and what retailers should prioritize before launching their own shiny AI shopping assistants. If AI agents are scraping your product pages and deciding what to recommend, the real question is: do they trust your data? This episode breaks down how ranking, trust, intent-based attributes, and Generative Engine Optimization (GEO) are reshaping the rules of retail.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why LLMs are becoming the first step of shopping, and what that means for retailers [00:45] – Amelia’s role as Head of Agentic Commerce and how Mirakl is approaching AI-first commerce [02:45] – The data behind AI-assisted shopping (including in-store usage) [05:09] – What makes LLM-based discovery fundamentally different from traditional advertising and search [06:45] – What AI agents actually look for on your product pages (and why trust is everything) [08:59] – Intent-based attributes, GEO (Generative Engine Optimization), and how to optimize for AI-driven ranking [10:45] – Why retail sites won’t die despite the fact that decision-making has officially moved upstreamLinks & ResourcesDownload Mirakl's agentic commerce white paper: Why marketplaces & dropship platforms win in the agentic commerce eraFollow Amelia Van Camp, Head of Agentic Commerce at Mirakl, on LinkedInRead my related articles:Why OpenAI's Ad Network Should Concern RMNs‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really IsWhile We Debate What's 'Really' Agentic, Retail Media's Foundation Is Already ShiftingAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

I wasn’t expecting a transatlantic debate when I published a piece about Sam's Club’s in-store retail media success. But what followed was a lively pushback from European retail media leaders who argued that in-store has been operating at scale in their markets for years. That sparked a much bigger question: Are US retail media networks behind in physical formats, or are these markets fundamentally different?This episode is a summary of my recent article for The Drum, in which I break down the critical structural and organizational differences between US and EU retail media operations. From regulation and budget flows, to ecommerce penetration and store density, I unpack why both sides are right, and why understanding these nuances matters if you want to build a smarter retail media strategy in 2026 and beyond.This episode is sponsored by Mirakl AdsTimeline[00:00] – The unexpected controversy after I published my piece on Sam’s Club’s in-store retail media performance.[01:08] – Why in-store represents just 3.3% of US retail media spend (excluding Amazon), and how that compares to Europe.[02:30] – The five hard structural barriers shaping US vs EU retail media.[02:54] – The impact of the Robinson-Patman Act on trade budgets vs retail media budgets in the US.[05:49] – How GDPR and stricter European privacy laws influence data monetization and offsite audience extension.[06:45] – Store density, geography, and why in-store screen economics look very different in Europe versus suburban America.Links & ResourcesMy full post on The Drum: Kiri Masters: The critical differences in US and EU retail media operations you need to understandDrew Cashmore's Retail Media Leapfrog Series: What Europe can Teach the World about Retail Media and Trade, Shopper, Brand. All One Big Bucket of MoneyRead my related articles:Sam's Club Cracked the Code on In-Store Retail Media—Here's How They Did ItThree Companies Monetizing Moments That Most Retailers IgnoreWhy OpenAI's Ad Network Should Concern RMNsAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Tom I’m sharing highlights from a conversation I had on the Retailgentic podcast with Scot Wingo, one of the sharpest thinkers tracking agentic commerce and how AI is reshaping the shopping journey. I’ve spent plenty of time talking about the threats AI-enabled shopping poses to retail media — compressed journeys, fewer page views, shrinking onsite inventory — but in this conversation, we go deeper. What happens next?We unpack what Retail Media 3.0 could actually look like. From collaborative bidding between brands and retailers, to new AI-driven ad surfaces inside tools like Gemini and Rufus, to the promise (and risks) of contextual targeting inside LLMs: this could be the moment retail media stops feeling like margin extraction and starts becoming a true win-win. If brands and retailers are willing to rethink the model, this may just be the best era of retail media yet.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why agentic commerce is reshaping everything we thought we knew about the shopping journey.[01:08] – Are AI shopping agents just customer support tools, or are they about to fundamentally change product discovery and accelerate shoppers straight to PDPs?[02:15] – The uncomfortable truth: some retail media budgets feel like margin extraction. What has to change to create real brand–retailer alignment?[04:49] – Collaborative bidding explained: how brands like Maytag and retailers like Lowe’s can jointly fund ads, and why this model could become even more important in AI environments.[06:08] – The ad tech enabling collaborative retail media (including Symbiosys and Ampd) and what’s happening behind the scenes operationally.[08:15] – Contextual targeting vs. “creepy” behavioral targeting: why I’m hoping AI models learn to target the query (rather than the shopper) and what that means for Retail Media 3.0.Links & ResourcesWatch the Retailgentic epsiode in full: Kiri Master's Round 2: The Ad Wars Come to Agentic CommerceSubscribe to Retailgentic on YouTube and Apple PodcastsFollow Scot Wingo on LinkedInRead my related articles:Dark Search, Broken Signals, and What Comes Next for Retail MediaWhy OpenAI's Ad Network Should Concern RMNsRufus Is Already Reshaping How Amazon Shoppers DecideAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Every parent has drawn a line in the sand and declared war on screen time… until 5:00 PM hits and the iPad comes flying in to remedy a meltdown so you can make dinner. That’s exactly what’s happening with ROAS in retail media. We all agree it’s flawed. We all agree it’s incomplete. And yet, we keep going back on our word and using it as a gold standard.In this episode, I unpack new research from adtech publication ADOTAT that puts hard numbers behind what many of us already feel: brands don’t trust retail media measurement, but budgets continue to climb anyway. I break down the incentive structures keeping ROAS alive, the uncomfortable truth about incrementality testing, and what top-performing brands are doing differently to escape the trap. If you’ve ever questioned whether your retail media measurement is actually telling you the truth, this one’s for you.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why ROAS is like screen time for parents: we say we’ll cut back… but we don’t.[01:00] – Media buyers are frustrated with RMN measurement — so why are budgets still growing?[02:10] – The collective action problem keeping ROAS firmly in place.[03:15] – Why CFOs love ROAS (and why incrementality struggles to compete).[05:30] – In defense of ROAS: when it’s 'good enough' and why incrementality doesn’t always pan out.[07:10] – What will actually kill ROAS? The brands building their own measurement operating systems.Links & ResourcesCheck out the full Retail Media Research Report from ADOTAT (free for ADOTAT+ subscribers)From ‘Fame and Distribution’ to ‘Gaming Attribution’ by Andrew LipsmanRead my related articles:The Retail Media Buffet Has Gotten A Lot Less EnticingWhat Big Agencies Believe About Retail MediaShould We Really Care What Consumers Think About Retail Media Ads?Join me and Jordan Witmer from Salt XC at 11am ET Friday Feb 27, for our next LinkedIn Live on When RMNs Come Calling for Your Brand Marketing Budget. We'll be answering questions LIVE -- join us!Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Last week, a viral report predicting an AI-driven economic collapse rattled financial markets. And honestly, I understand why it spread so fast. The 2028 Global Intelligence Crisis paints a clean, compelling doom narrative: AI replaces white-collar workers, consumers disappear, and the economy collapses under its own automation. But I think that story is dangerously incomplete.In this episode, I break down Eric Seufert’s powerful counter-argument outlined in his new podcast series, The Prosperous Society, which showcases the AI bull case for advertising and the digital economy. I share snippets from Part 1: The Primacy of Distribution and add commentary about why AI may be deflationary for production but inflationary for distribution, why advertising isn’t about creating demand but routing it, and what this means for retail media in a world of AI shopping agents. If you work in retail media, commerce media, ad tech, or digital advertising strategy, this is a POV you need to hear.This episode is sponsored by Mirakl AdsTimeline[00:00] – The viral 2028 Global Intelligence Crisis report and why its AI doomer thesis spread so quickly[01:00] – Introducing Eric Seufert and his AI bull case for the digital economy[02:15] – Advertising as demand routing, not demand creation, and why this distinction matters[04:00] – How targeting shifts the value distribution and drives profitable user economics[08:02] – AI is deflationary for production but inflationary for distribution[10:15] – In an agentic commerce world, someone still controls the catalog (and allocation equals advertising)Links & ResourcesThe 2028 Global Intelligence Crisis report by Citrini ResearchThe Prosperous Society, Part 1: The Primacy of Distribution, by Eric SeufortFollow Eric Seufert on LinkedInRead my related articles:While We Debate What's 'Really' Agentic, Retail Media's Foundation Is Already Shifting'The Biggest Change in My Lifetime' — Marketecture CSO on AI ShoppingDark Search, Broken Signals, and What Comes Next for Retail MediaAI Is Claiming Browsing Behavior.  Commerce Media Must Compete On Its Data AdvantageI Really, Really Hoped That Ads in AI Wouldn't Suck. Now We Find Out.Join me and Jordan Witmer from Salt XC at 11am ET Thursday Feb 27, for our next LinkedIn Live on When RMNs Come Calling for Your Brand Marketing Budget. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, February 25 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Every major disruption in retail follows the same pattern: a constraint gets removed, customers win, and the incumbent’s profit engine breaks. In this episode, I connect the dots between past retail revolutions and what’s unfolding right now with AI-enabled shopping. We’re watching browsing behavior disappear, signals degrade, and measurement stories get fuzzier — and that has major implications for retail media.I unpack the rise of 'dark search' and 'dark intent,' share real-world examples (including one of my own recent purchase journeys), and break down four practical moves retailers and media buyers should be making today. This isn’t about declaring retail media dead. It’s about recognizing that the ground is shifting, and understanding what comes next.This episode is sponsored by Mirakl AdsTimeline[00:00] – The pattern behind every major retail disruption, and why retail media’s profit engine may be next at risk.[01:25] – How AI-enabled shopping changes the purchase journey (and what retailers lose when research happens inside LLMs).[02:30] – Defining 'dark search' and 'dark intent' and why retailers may be blind to shopper decision-making.[04:07] – Four strategic moves retailers and media buyers should make now, starting with going where inspiration begins.[06:15] – Rethinking the product detail page for the LLM-driven shopper journey.[07:27] – Why physical stores may be the most defensible asset in the retail media stack.Links & ResourcesCheck out The Retail Pulse Report newsletter by Nikki Baird, VP of strategy and product at Aptos: Retail Pulse Report: Who Knows What Your Customers Want? Not You.Read my related articles:‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really IsWhile We Debate What's 'Really' Agentic, Retail Media's Foundation Is Already ShiftingWhy OpenAI's Ad Network Should Concern RMNs'The Biggest Change in My Lifetime' — Marketecture CSO on AI Shopping7 Ways to Break the Retail Media Doom LoopThe 3 Ways Agentic Commerce Could Destroy Retail MediaWhy Agentic Shopping Poses an Existential Threat to Retail Media (Part 1)Join me and Jordan Witmer from Salt XC at 10am ET Thursday Feb 19, for our next LinkedIn Live on When RMNs Come Calling for Your Brand Marketing Budget. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, February 25 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

Today I’m diving into one of the biggest debates in retail media right now: brands are demanding standardization, and retailers are saying it’s not that simple. So… do they kind of have a point?Using a bolognese sauce analogy (stay with me!), I unpack why every retail media network has its own 'recipe' for measurement, reporting, and ad offerings, and why that might not be entirely by accident. We’ll explore the real reasons behind the resistance to standardization, the tension around transparency and comparability, and what brands and retailers should actually be focusing on as retail media growth begins to cool. If measurement, incrementality, ROAS, and retail media investment strategy are on your mind, this one’s for you.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why retail media networks are like bolognese sauce: same dish, wildly different recipes.[01:05] – How retailers built their tech stacks, and why many weren’t designed for modern retail media.[02:15] – Brands are voting with their wallets: why most only invest in 6–8 RMNs despite the dozens that are available.[03:15] – Why specialty retailers push back on standardization (and why Amazon and Walmart aren’t the right comparison).[04:20] – The technical and economic realities holding retailers back from upgrading measurement systems.[07:00] – Are brands part of the problem? Custom metrics, attribution windows, and internal misalignment.[08:45] – What brand surveys really say about measurement, profitability, and standardization priorities.[09:15] – The path forward: focusing on business outcomes over perfect comparability.Links & ResourcesThe bi-annual Sponsored Products Benchmark reports from PentaleapAndrew Lipsman's piece, The Argument for Retail Media Isn’t “Performance”—It’s Marketing EffectivenessRead my related articles:The Other Side of the Story: Why Retailers Struggle with Media Measurement & StandardizationRetail Media Unpacked: Why retail media still lacks widely adopted measurement standardsInterview with Melanie Babcock, the former head of Home Depot’s Orange Apron Media, on ForbesJoin me and Jordan Witmer from Salt XC at 11am ET Friday Feb 27, for our next LinkedIn Live on When RMNs Come Calling for Your Brand Marketing Budget. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, Feb 25 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

I’ve been ringing the bell about AI disrupting retail media for a while now. The pushback I keep hearing is, “Show me the traffic.” And yes, when you look at last-click data, less than 1% of retailer traffic is coming from ChatGPT. So… what’s the big deal?I recently joined I joined Destaney Wishon on the Better Advertising Podcast to break down why that 1% number is deeply misleading, and why AI’s influence is already reshaping retail media in ways we simply aren’t measuring yet. In today's episode, a snippet from my conversation with Destaney, we unpack the 'dark search' phenomenon, contextual ad experiences inside LLMs, collaborative bidding models between brands and retailers, and why discovery — not checkout — is the real disruption. If you care about retail media data, audience targeting, and where ad dollars go next, this conversation is going to make you think differently!This episode is sponsored by Mirakl AdsTimeline[00:00] – The 1% myth: Why AI traffic looks tiny and why we're looking at the wrong metric[00:30] – “Dark Search” explained: How LLMs influence purchases without sending clicks[01:30] – The optimistic view: What ads inside AI could look like (and why they don’t have to be disruptive) [02:00] – Context is king: Why LLM relevance could outperform traditional retail media [06:15] – Collaborative bidding between brands and retailers inside AI environments [09:23] – The real disruption: AI shifting discovery away from retailer.com — and what that means for retail media dataLinks & ResourcesWatch my full conversation with Destaney Wishon on the Better Advertising podcast: Is Retail Media Ready for AI Ads?Subscribe to Better Advertising on YouTube and Apple PodcastsFollow Destaney Wishon on LinkedInMalte Landwehr, CPO and CMO of Peec AI, explains his 'Dark Search' thesis on LinkedInRead my related articles:AI Is Claiming Browsing Behavior. Commerce Media Must Compete On Its Data Advantage7 Ways to Break the Retail Media Doom LoopJoin me and Jordan Witmer from Salt XC at 11am ET Friday Feb 27, for our next LinkedIn Live on When RMNs Come Calling for Your Brand Marketing Budget. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, Feb 25 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn

A year ago, just 7% of website referrals to U.S. retailer sites came from ChatGPT. By October 2025, that number had more than doubled to 16%. And it’s not just ecommerce: nearly one in five shoppers used LLMs like ChatGPT, Gemini, or Perplexity while shopping in-store over Thanksgiving weekend last year. That’s not a trend. That’s a shift.In this episode, an expansion on a recent piece I wrote for The Drum, I share a personal story about how AI completely reshaped my own purchase journey (yes, it involves a Shark hair tool and zero browsing on a retailer site!). Then I break down what this “cosmic reset” means for retail media networks. If AI is claiming the early shopping journey, how do commerce media players compete? I walk through four strategic moves retailers must make now to protect their data advantage, strengthen their media moat, and win in an AI-shaped shopping world.This episode is sponsored by Mirakl AdsTimeline[00:00] – ChatGPT referrals to retailer sites double in a year, and 18% of shoppers use LLMs in-store.[01:22] – My “hair rut” story: How AI replaced my browsing and narrowed my purchase to one SKU.[02:51] – The real problem: Fewer signals, fewer surfaces, and less sponsored product exposure.[04:23] – Strategy #1: Fueling the inspiration stage with offsite commerce media.[07:15] – Strategy #2: Data collaboration and clean room partnerships across commerce networks.[08:45] – Strategy #3 & #4: Product truth as a media lever, and why in-store is the most defensible arena.Links & ResourcesCheck out my full article on The Drum: Kiri Masters: Retailers, here’s how your media network can still thrive in an AI-shopping eraRead my related articles:Why OpenAI's Ad Network Should Concern RMNsRetail Media's Measurement Problem: It's Not Just the RetailersWhile We Debate What's 'Really' Agentic, Retail Media's Foundation Is Already Shifting'The Biggest Change in My Lifetime' — Marketecture CSO on AI Shopping7 Ways to Break the Retail Media Doom LoopJoin me and Jordan Witmer from Salt XC at 10am ET Thursday Feb 19, for our next LinkedIn Live on When RMNs Come Calling for Your Brand Marketing Budget. We'll be answering questions LIVE -- join us!Atlanta-based retail media professionals: Wednesday, February 25 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn