Explore every episode of the podcast Retail Media Breakfast Club
| Title | Pub. Date | Duration | |
|---|---|---|---|
| An Ad Told Me the Only Thing I Already Knew About Bolts | 22 Oct 2026 | 00:10:00 | |
What happens when an ad finds you at exactly the right moment, but still gets the job wrong? I found myself standing in the bolts aisle at Bunnings, using ChatGPT to figure out which bolt I needed for my home studio setup, when an ad helpfully reminded me that I could buy bolts at Bunnings. The problem? I was already there. What I really needed was for my AI assistant to tell me whether the bolt I needed was in stock on the shelf in front of me. That experience got me thinking about the future of AI shopping, the limitations of the Amazon-inspired retail media playbook, and what actually makes a retailer different. In this episode, I explore why retail media networks need to build around their retailers’ unique strengths rather than simply maximize ad revenue, what new research tells us about how consumers validate AI-generated product recommendations, and why real-time inventory, physical store networks, and customer relationships could become retailers’ biggest advantages in the age of AI-enabled commerce.
Timeline 00:00 – The Bunnings aisle experience that exposed a blind spot in AI shopping ads. 01:35 – Why AI shopping often starts with a general-purpose assistant and ends in a physical store. 02:25 – Why Amazon’s retail media revenue model doesn’t necessarily translate to other retailers. 03:35 – The operational realities of building an in-store retail media network across independently owned locations. 05:30 – Finding the “holy” part of your retail media network: protecting the competitive advantage that keeps customers coming back. 07:00 – What consumer research reveals about AI product recommendations, trust, and where shoppers go to validate their choices. 08:39 – Why retailer AI assistants need to solve real shopping problems, and how local inventory could be a retailer’s biggest advantage.
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| Whose Side Is Your Shopping Agent On? | 21 Oct 2026 | 00:17:04 | |
AI shopping agents are starting to change how people discover products, compare prices, and actually make purchases. But as these agents take on more of the shopping journey, there’s a much bigger question we need to be asking: who’s going to pay for them, and will they still be working in the shopper’s best interest when they do? In this episode, I’m sharing some of my favorite moments from Jason Goldberg and Scot Wingo’s discussion on The Jason & Scot Show, including a fascinating story about how Walmart approached AI adoption, why Amazon is building its own shopping agent ecosystem, and what happens when AI agents start handling the actual execution of a purchase. I also share details about my new podcast/newsletter AdGentic, dig into why advertising could ultimately become the business model behind personal AI agents, and what that means for retail media, brands, and consumer trust.
Timeline [01:00] – The Walmart AI Wake-Up Call: How a conversation with former Walmart CEO Doug McMillon illustrates why AI adoption has to start at the top. [03:23] – Why Amazon Is Building Its Own AI Shopping Ecosystem: Could AI agents become another shopping and media surface for Amazon to dominate? [05:05] – What Actually Counts as Agentic Commerce? Scot Wingo’s broader definition of agentic commerce goes beyond autonomous shopping to include any AI-assisted part of the purchase journey. [06:11] – The Shift From AI Discovery to AI Checkout: Why shoppers handing over price comparisons, shipping research, and checkout to AI agents could disrupt retail media in unexpected ways. [08:50] – Who Pays for AI Shopping Agents? Jason Goldberg and Scot Wingo explore monetization, affiliate commissions, subscriptions, and the challenge of keeping agents on the shopper’s side. [11:34] – Will Advertising Fund the Future of AI Agents? Why I think ads could become the dominant business model for personal AI agents — and what we should be asking about relevance, transparency, and trust. [14:55] – Is Shopping Fun or Just a Chore? Why shoppers may want to keep the enjoyable parts of shopping while handing over the tedious work to AI agents.
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| POV: Your Mum Always Buys the Same Brand | 20 Oct 2026 | 00:12:01 | |
Today I’m looking at what happens to brand loyalty when AI starts doing more of the shopping. We’ve all seen how shoppers stick with the brands they know, even when there might be a cheaper or supposedly better option sitting right next to them. But what happens when an AI assistant starts comparing products, making recommendations and potentially changing the way consumers discover and buy? I’m drawing on research I co-authored with Bazaarvoice, along with findings from WPP Media, Oxford University’s Saïd Business School, NP Digital and Kantar, to unpack how brand preferences are formed before a shopping trip even begins, and why that matters as AI reshapes the purchase journey. I’m also digging into what this shift means for retail media networks, particularly the future of sponsored product ads, on-site AI advertising, and the growing risk that shoppers will turn to third-party AI assistants instead of retailer-owned platforms.
Timeline 00:37 – What the Bazaarvoice research reveals about why shoppers stay loyal to their favourite brands. 01:52 – Why brand preferences are often formed before the shopping mission even begins. 02:21 – The priming and active stages of the consumer purchase journey — and why brand building matters long before checkout. 04:34 – Will AI shopping assistants undermine brand loyalty? The surprising gap between trusted brands and AI recommendations. 05:38 – Why the consumer purchase journey is getting more crowded, with social media, influencers and new media touchpoints competing for attention. 08:07 – How agentic shopping threatens the traditional retail media model, and why sponsored product ads could be particularly exposed. 10:21 – Why retail media networks are betting on native AI ads, and the risk of shoppers asking ChatGPT instead of the retailer's assistant.
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| The Return To Onsite | 19 Oct 2026 | 00:14:38 | |
Retail media has spent the last few years chasing growth through connected TV, influencer partnerships, social commerce, and in-store screens. But new research from eMarketer and Bain & Company suggests retail media network leaders are shifting their focus back to onsite advertising, where retailers have more control, higher margins, and a more established path to advertiser budgets. In this episode, an expansion on my recent article for The Drum, I explore why offsite retail media has been harder to scale than expected, what advertiser demand tells us about the industry's biggest growth opportunities, and why proving incremental revenue remains a challenge. I also look at the growing threat of AI shopping agents that could bypass retailer websites and disrupt traditional sponsored product ads. Is returning to onsite advertising a smart strategic move, or are retail media networks sacrificing future growth for easier wins today? Drawing on insights from eMarketer's Sarah Marzano and perspectives from the retail media community, I unpack the trade-offs facing retail media leaders and what it will take to unlock the next phase of growth.
Timeline [00:00] - Why retail media is moving back toward its roots, with onsite advertising emerging as a leading growth opportunity. [02:35] - Sarah Marzano explains why retailers have more control, fewer third parties, and higher margins with onsite ads. [04:11] - Why offsite retail media is harder to sell, including the challenge of reaching brand budgets beyond ecommerce and sales teams. [06:22] - The disconnect between retail media's promised growth and advertiser demand for social and in-store placements. [08:21] - The retail media doom loop: declining confidence in incremental revenue, talent shortages, and underfunded technology. [11:33] - How AI shopping agents could bypass retailer websites and put traditional sponsored product ads at risk. [13:20] - The debate over whether returning to onsite is a sensible strategy or whether offsite is essential for the next wave of growth.
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| Are Audiences The Golden Ticket For RMNs? | 15 Oct 2026 | 00:13:50 | |
Are bigger retail media networks automatically better? And what really makes a network worth investing in? In this episode, I'm picking up the debate sparked by Brian Spencer at Kroger Precision Marketing about what it takes to build a successful retail media network. Scale matters, but so do audience relevance, addressability, and technology. I also unpack GrowthLoop's 2026 Commerce Media Investment Index to explore what advertisers really want from audience targeting, whether faster audience fulfillment is worth paying more for, and what United's Connective restructuring reveals about the technology needed to turn valuable audiences into measurable results.
Timeline [00:30] – Brian Spencer's challenge: What really qualifies as a retail media network? [02:09] – Audience relevance versus audience size. [03:03] – Why specialty retailers can compete with the giants. [05:30] – What advertisers want from retail media audiences. [06:30] – Why more audience segments could drive greater spending. [08:17] – Is faster audience fulfillment worth the premium? [10:28] – United's lesson: Why audience data alone isn't enough.
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| Why retailers are reviving MTA (Part 2) | 14 Oct 2026 | 00:13:57 | |
Why are retail media networks bringing back multi-touch attribution (MTA) when many marketers consider it outdated? In part 2 of my MTA series, I explore why Albertsons Media Collective and Best Buy Ads are investing in MTA, and how better measurement could help retailers unlock national brand advertising budgets beyond sponsored products. I also look at the limits of current MTA solutions, why measurement matters when brands choose retail media networks, and three questions retailers should ask before building their own attribution capabilities. Plus, I preview the next big question in commerce media: are retail media networks growing market share or simply stealing conversions from other platforms?
Timeline [00:35] — Why the industry may be wrong about MTA being outdated, and why retailers see a different opportunity. [01:51] — The case for earlier measurement signals, and why market share and quarterly marketing mix models aren't enough for week-to-week decisions. [03:26] — The real incentive behind retailer MTA investments: unlocking national brand advertising budgets beyond sponsored products. [05:39] — Why measurement capabilities matter when brands are choosing which retail media networks deserve a place in their media plans. [07:42] — Where Albertsons and Best Buy's MTA solutions differ, and why brands still face gaps in cross-platform measurement. [11:31] — The three-part test for deciding whether a retailer should build MTA in the first place. [12:39] — A preview of part three: Are commerce media networks growing share or stealing conversions from other platforms?
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| Does Size Matter in Retail Media? It Depends Who’s Buying | 13 Oct 2026 | 00:14:43 | |
Are there really only 10 or 20 successful retail media networks, or are we overlooking the value of the other 180? A recent LinkedIn post from Brian Spencer at Kroger Precision Marketing sparked a debate about what it takes to be a successful retail media network, and I wanted to dig into one of his key criteria: scale. Because while scale absolutely matters to some advertisers, I think the bigger question is: scale for whom? In this episode, I unpack why national CPG media teams gravitate toward the biggest retail media networks, what that means for smaller and regional players, and why shopper marketing teams could be the key to unlocking the long tail of retail media. From Amazon and Walmart, to Woolworths in Australia and H-E-B in Texas, I explore why a network that looks small on a national media plan can be absolutely critical to winning in a specific market. And as the biggest networks chase upper-funnel brand budgets, I look at the very different growth challenges facing the rest of the industry.
Timeline [00:00] – The LinkedIn debate that got me thinking: Are there really only 10 or 20 successful retail media networks? [02:10] – Why even the biggest CPG advertisers don't want to manage more retail media networks. [03:14] – Inside the $1 billion club: The commerce media networks publicly reporting more than $1 billion in ad revenue. [06:00] – Why scale is relative, and why regional retail media networks still matter in markets like New Zealand, Ireland, and Australia. [09:22] – Who buys the long tail? Why shopper marketing teams could be the answer for smaller retail media networks. [12:24] – How two things can be true: Only a handful of networks may matter to national media directors, while hundreds remain relevant locally. [13:01] – The retail media doom loop: Why scale, technology, talent, and advertiser budgets are so difficult to balance.
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| Follow the Wallet | 08 Oct 2026 | 00:15:37 | |
Consumer AI is growing at an incredible pace, but here's the thing: even though millions of people are using AI, very few are actually paying for it. So how are these platforms going to make money, and what does that mean for retail media and the future of shopping? In this episode, I'm digging into some fascinating new research from Andreessen Horowitz on consumer AI adoption, spending habits, and the business models emerging around these platforms. I explore why people are willing to pay for productivity but not necessarily everyday consumer queries, why advertising could become the dominant monetization model for AI agents, and what a potential ChatGPT wallet could mean for closed-loop measurement and retailers' first-party data. Plus, I look at the race to build the winning AI shopping experience and why retailers need to think carefully about whether to embrace or block emerging AI agents.
Timeline [01:24] — AI adoption is booming, but few consumers are willing to pay for it. [04:02] — Why people want to spend time, not just save it, and what that means for AI shopping. [06:15] — Why subscriptions may not be enough, and why advertising could become AI’s dominant revenue model. [09:30] — How a potential ChatGPT wallet could reshape retail media measurement and first-party data. [12:36] — Why the race to build the winning AI shopping experience is still wide open. [13:38] — Why retailers need to think carefully before blocking AI shopping agents.
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| Does the World Need More Retail Media Networks? It Depends. | 07 Oct 2026 | 00:11:29 | |
The retail media landscape is getting more crowded by the week. McDonald’s, Simon Property Group, Delta, and a growing list of other companies are launching commerce media businesses. But does the world actually need more retail media networks? In this episode, I share Matthew Fantazier's latest 'hot take' on the explosion of commerce media and add my own perspective on the biggest question facing these new networks: who is this actually for? I also dig into the rise of consumer-facing AI agents and what it could mean for advertising, commerce, and consumer trust. If AI agents start making purchases on our behalf, who gets paid, how will brands compete for those transactions, and could paid placement quietly become the next evolution of retail media? There are some big questions ahead, and I’m not convinced we’re ready for the answers.
Timeline [00:58] - Why the retail media network boom shows no signs of slowing down [02:20] - The question every new commerce media business needs to answer: “Who is this for?” [03:31] - Why brands may not want to add another 10 retail media networks to their media plans [04:34] - The problem with retailers copying Amazon and Walmart instead of building on what makes them unique [06:18] - What consumer-facing AI agents could mean for shopping and advertising [09:15] - Who pays for AI agents — and why that question could transform retail media [10:30] - Why paid rankings inside AI agents could create a major consumer trust problem
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| Bulldust Metrics In Retail Media | 06 Oct 2026 | 00:10:48 | |
There’s a lot of talk in retail media about better measurement, incrementality, and finding the one metric that finally tells us what’s really working. But sometimes the metrics we’re using are… well, bulldust. In this episode, I dig into why measurement looks so different depending on which side of the table you’re sitting on, and why retailers and brands can both feel like they’re doing the right thing while talking completely past each other. I also revisit the question of why ROAS refuses to die. Is it actually a useless metric, or does it persist because brands genuinely need a common currency and early signals to guide media planning? I look at sales lift, incrementality, MTA, basket lift and other signals — and why the real challenge may be less about finding a perfect metric and more about getting both sides to agree on what they’re actually trying to measure.
Timeline [00:00] - Why “purchase intent velocity” is the perfect example of a bullshit retail media metric [01:00] - Why retailers and brands see measurement gaps very differently [02:16] - How methodological choices can dramatically change incremental ROAS [03:22] - Why sales lift may be the closest thing retail media has to a standardized measurement currency [04:30] - The media-planning problem that makes ROAS so difficult to replace [06:33] - Why ROAS persists, and the case for using it with much more context [09:55] - Why retail media measurement ultimately comes down to incentives
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| Best Buy Ads Showcase Recap | 05 Oct 2026 | 00:12:15 | |
I recently took a closer look at what Best Buy Ads is building, and what it tells us about where retail media is heading. Best Buy was one of the early retailers to launch sponsored product ads, but at its latest showcase, that familiar ad format was barely part of the conversation. Instead, the spotlight was on connected TV, creators, TikTok Shop, its production studio, and new measurement capabilities. I think that shift tells us something important about the future of retail media. Brands increasingly want retail media to do more than drive an immediate sale, while AI is changing how shoppers arrive at retailers in the first place. In this episode, I unpack why Best Buy may be looking beyond the traditional search-results-page model, what its new measurement research says about the brand-building potential of retail media, and why the retailers with the most distinctive assets may be best positioned to move beyond sponsored products.
Timeline [00:15] - Exploring the gap between brands’ interest in retail media brand-building and where their budgets are actually going [01:15] - What Best Buy Ads showcased beyond sponsored products, including CTV, creators, TikTok Shop, and measurement [03:30] - Why Best Buy’s showcase suggests its growth ambitions are moving beyond the search results page [05:15] - How AI and LLMs could change the shopper journey—and potentially reduce traditional sponsored product opportunities [08:30] - Breaking down Best Buy’s Circana marketing mix model and its findings on ROAS, media contribution, and brand equity [10:24] - Why Best Buy’s distinctive retail assets could help it move beyond interchangeable retail media networks
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| RMNs Are Launching MTA. Do Brands Want It? [Part 1] | 01 Oct 2026 | 00:13:14 | |
A couple of years ago, two neighborhood cats started visiting our house. We fed them, they kept coming back, and then one day they turned up wearing collars that said, “Do not feed unless starving.” It turned out we weren't the only ones feeding them: and nobody really knew who was feeding them, how often, or how much. Brands have their own version of this problem. When they add up all the attributed sales from every retail media network they spend with, somehow the total can come out bigger than their actual sales. So when Albertsons and Best Buy launched new multi-touch attribution (MTA) capabilities within a week of each other, I wanted to understand what problem they were actually trying to solve. Are brands really asking for MTA? Why did MTA fall out of favor in broader marketing? And has retail media simply never moved beyond last-click attribution? In this episode, I expand upon my recent article for The Drum, and dig into what brands, consultants and the retailers themselves are saying. I also set up the bigger question I'll tackle in Part 2: even if retailer-operated MTA is in the retailers' interests, can it still be useful and credible for brands?
Timeline [00:43] - Why retail media attribution can add up to more sales than brands actually have [01:50] - Albertsons and Best Buy launch new multi-touch attribution capabilities [03:22] - Why brands may be turning to media mix modeling and cross-network measurement instead [04:15] - How privacy restrictions and ecosystem fragmentation helped push MTA out of favor [07:47] - A CPG perspective on why MTA may not answer the incrementality question brands actually care about [10:04] - What SharkNinja, EOS and other advertisers say they need from commerce media measurement [11:00] - Why Best Buy and Albertsons say advertisers are asking for MTA
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| The Retail Media Doom Loop: 2026 Edition | 30 Sep 2026 | 00:09:39 | |
I’m revisiting one of my most popular episodes from last year: the retail media doom loop. The basic idea is pretty simple — a retailer sees the ad revenue being generated by Amazon and Walmart, launches a retail media network, and quickly grows by moving existing trade and shopper marketing dollars onto a media line. But what happens when that easy growth runs out? In this episode, I look at what the latest data and conversations with retail media leaders suggest about where the industry is actually headed in 2026 and beyond. I dig into why sponsored search and on-site display remain the backbone of retail media, why some of the industry’s newer “sparkly” offerings are struggling to gain adoption, and why the unglamorous work of fixing ad tech may matter far more than the flashy announcements getting all the attention.
Timeline [00:59] - What the latest eMarketer and Bain research says about retail media growth expectations in 2026 [01:52] - Why sponsored search and on-site display still dominate retail media ad spending [03:04] - The “add sparkles” phase of the retail media doom loop — and why shiny new formats can distract from core problems [04:00] - How a legacy ad server created major forecasting problems for one mid-sized retail media network [05:15] - The hidden cost of manual retail media operations and the potential for missed seven-figure ad opportunities [06:43] - Why creators and off-site media are struggling to gain adoption among some brands [08:41] - What consolidation could mean for the future of commerce media
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| Trust in AI Shopping: Two New Studies | 29 Sep 2026 | 00:16:17 | |
AI is becoming part of how we shop, but how much do consumers actually trust what an AI assistant recommends? In this episode, I’m digging into two new research studies — one from Acosta Group, and one I conducted with Bazaarvoice — to explore what shoppers really think about AI-powered shopping recommendations, advertising, brand discovery, and trust. I’ll walk through what happens when shoppers encounter ads inside AI tools, why consumers are increasingly taking a “trust but verify” approach, and how AI is changing the way people research products both online and inside physical stores. I’ll also look at what all of this means for challenger brands, established brands, and retailers as AI increasingly becomes part of the shopping journey.
Timeline [02:13] - Why shoppers are concerned that advertising could influence AI recommendations [05:23] - The rise of “trust but verify” as consumers increasingly use AI for shopping research [07:18] - How AI is becoming a second opinion for shoppers right in the store aisle [10:22] - Why AI could make consumers more willing to discover and switch to unfamiliar brands [13:15] - The opportunity for challenger brands — and why reviews and other proof points matter [14:42] - Why established brands’ first-click advantage may only be temporary [15:03] - The changing role of retailers as shoppers use AI to validate prices, products, availability, and reviews
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| Retail Media Is a Creative Wasteland. So What. | 28 Sep 2026 | 00:08:12 | |
Retail media is a creative wasteland. That’s the catchy line coming out of Ipsos’ new Creativity Over Clicks research. And honestly, my first reaction was to get my hackles up. But once I slowed down and looked at what the data was actually saying, I realized the report was confirming something many retail media practitioners have known for a long time: the creative looks the way it does for some very rational reasons. In this episode, I unpack what Ipsos’ research tells us about retail media creative, shopper mindset, measurement, and the tension between brand building and bottom-of-funnel performance. I also look at where I think retail media has an opportunity to go further, particularly when it comes to video, premium formats, and reaching shoppers who aren't already in market. Is retail media really a creative wasteland? Or have we simply been optimizing for what the channel can measure?
Timeline [00:00] - Why the “creative wasteland” framing initially got my hackles up [01:11] - Why retail media attracts a more data-driven, performance-focused mindset [02:06] - Why retail media ads are 47% less likely to be remembered, and how shopper mindset explains it [03:07] - How measurement shapes creative choices and keeps retail media focused on the bottom of the funnel [04:22] - Why video outperforms display across key brand metrics [06:18] - The surprising impact of creative quality on undecided and out-of-market shoppers [07:17] - Why retail media shouldn't simply copy the “best practices” of traditional media
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| Trip Report: Retail & Commerce Media Activations in Poland | 24 Sep 2026 | 00:14:04 | |
I recently spent a week in Poland on a family trip, and while I didn't have nearly as much time for retail media recon as I would have liked, I came away with a few observations that I found genuinely fascinating. From the country's enormous network of parcel lockers being turned into advertising surfaces, to the surprising density of Żabka convenience stores, there is a lot happening in Polish retail and commerce media. In this episode, I walk through four things that caught my attention on the ground: the emergence of parcel lockers as an out-of-home media network, what I observed about connected TV and retail destinations, Żabka's rapidly expanding in-store digital network, and Rossmann's huge footprint of digital screens. I also dig into how differences in privacy regulation between Europe and the US can shape the media opportunities available to retailers and advertisers.
Timeline [01:24] - Discovering Poland's extraordinary network of 73,000 parcel lockers [03:00] - How parcel lockers accidentally became a new out-of-home advertising surface [04:09] - Seeing P&G CTV ads with Polish retail destinations like Allegro and Media Expert [06:01] - How GDPR and US privacy regulations create different retail media dynamics [08:01] - Why Żabka has more than 13,000 stores — and what I noticed about its growing in-store media network [10:00] - Exploring Żabka's digital screens and the early stages of its third-party advertising business [11:26] - Rossmann's 6,000 screens and its move toward programmatic in-store media
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| Are RMNs Finally Getting The Hang of This Collaboration Thing? | 23 Sep 2026 | 00:16:19 | |
Are retail media networks finally getting the hang of collaboration? This week, two major announcements have me thinking about the transition from parallel play to collaborative play in retail media. Best Buy is expanding its partnership with Amazon to sell Fire TV ad inventory, while Instacart and Gopuff are teaming up on both delivery and advertising technology. And these aren’t just interesting partnerships on paper: they could change how brands buy, target, and measure retail media campaigns. In this episode, I’m breaking down what each company gets out of these deals, why Best Buy’s audience data could be particularly valuable for connected TV advertising, and how Gopuff’s move to Instacart’s Carrot Ads platform could open up a much larger advertiser base. I’m also looking at what these partnerships mean for media buyers, the ongoing question of whether retail media tech providers can work with competitors, and what it takes to move from simply sharing the same space to genuinely collaborating.
Timeline [00:23] — Why I’m comparing retail media networks to toddlers learning the difference between parallel play and collaboration. [02:02] — Best Buy and Amazon expand their Fire TV partnership, giving Best Buy the ability to sell ad placements across Insignia TVs. [05:05] — How Best Buy’s purchase and Geek Squad data could bring more meaningful audience targeting to connected TV advertising. [09:23] — Instacart and Gopuff team up, combining Gopuff’s rapid delivery network with Instacart’s marketplace and Carrot Ads technology. [11:14] — Why the difference between a weekly grocery stock-up and a quick snack run matters for retail media advertisers. [13:00] — Gopuff’s move to Carrot Ads, access to 9,000 advertisers, and the challenge of scaling an advertising business. [15:07] — What these deals reveal about the future of retail media collaboration, and why the real test may come at renewal time.
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| Shoppers Think That AI's Answers Are For Sale | 22 Sep 2026 | 00:12:15 | |
We’ve struck a pretty clear deal with advertisers: we tolerate ads in exchange for free or subsidized services. But what happens when those ads show up inside AI assistants that we’re increasingly relying on to help us shop? New research from Bazaarvoice, which I co-authored, reveals that consumers are already questioning whether AI recommendations are truly independent. And that raises some important questions for brands and retail media advertisers. In this episode, a recap of my recent article for The Drum, I dig into what shoppers actually think about advertising in AI, why sponsored placements aren’t a shortcut to building brand trust, and where consumers go to validate AI-recommended products. I also explore what brands can do right now to make sure their reviews, user-generated content, and product information are accessible to both shoppers and AI crawlers. Because AI might open the door to a brand, but that doesn't mean it earns the customer's trust.
Timeline [00:00] – Why consumers tolerate traditional advertising but feel differently about ads inside AI assistants. [01:03] – New Bazaarvoice research reveals that 54% of consumers believe advertising in AI could influence its recommendations. [02:19] – The difference between earning an organic AI recommendation and buying a sponsored placement. [05:00] – Why AI advertising is still an immature channel, and what that means for brand budgets and campaign measurement. [06:01] – Where shoppers actually go to validate AI recommendations, from customer reviews to brand websites and retailer sites. [08:40] – How brands can build trust with reviews, user-generated content, and accessible product information. [10:25] – The evolution of who vouches for brands, and why AI assistants can’t be the only source of trust.
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| 44% of US RMNs Are Led By Women | 21 Sep 2026 | 00:07:33 | |
I've got some really good news to share on today's Retail Media Breakfast Club. Despite some of the things that can leave me feeling a little disheartened about the retail media industry, I recently discovered something genuinely exciting: 44% of US retail media networks are led by women. That's substantially higher than the representation of women in VP and SVP roles reported in recent McKinsey research. I put together a database of named P&L leaders across the NRF's 2026 Top 100 US retailers, and I'm sharing what I found, along with a few theories about why retail media might be getting something right. From the role of relationships and women's leadership networks, to the influence of marketing functions, I'm exploring what might be behind these numbers. I don't have a definitive conclusion just yet, but I'd love to hear what you think we're doing well as an industry, and what we should do with this information.
Timeline [00:51] – The surprising discovery: 44% of US retail media networks are led by women. [01:46] – How I built my database using the NRF's 2026 Top 100 US retailers. [03:14] – Why retail media might be a more welcoming segment of the media industry. [03:44] – How women's leadership networks and meaningful relationships can help women reach the top. [05:39] – Could retail media's roots in marketing help explain the numbers? [06:07] – Why I ruled out the glass cliff theory as an explanation. [06:35] – What these findings mean for the industry, and why I want to hear your thoughts.
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| Rocks, Pebbles, Sand: Retail Media Eras (Part 2 of 2) | 17 Sep 2026 | 00:11:54 | |
Why do good retailers make bad ad tech decisions? In part two of my series on the different eras of retail media, I’m expanding on my recent article for The Drum, and exploring why choosing the right technology is only part of the equation. The bigger question is: What role does your retail media network actually play in the media plan? Drawing on insights from Co-op Media Network’s Dean Harris and Ace Hardware’s Molly Hjelm, I look at the different end states for retail media networks, from scaled walled gardens to specialist players and low-cost reach extensions. I also explore why some networks get stuck in the squeezed middle, how technology decisions can create organizational headaches, and why retailers need to think about their proposition before rushing to launch a product. If you're building a retail media network, evaluating ad tech, or trying to understand what advertisers actually want, this episode is about taking a step back and asking the right questions before investing in the next big technology solution
Timeline 00:00 – Revisiting the different eras of retail media technology and why technology alone doesn't explain the market. 01:39 – Rocks, pebbles, and sand: Dean Harris's framework for understanding the different end states of retail media networks. 03:15 – The squeezed middle: why networks without scale or differentiation struggle to attract agency attention and repeat investment. 04:16 – Tech composability versus the all-in-one solution: understanding which strategies are realistic for different retail media networks. 06:49 – Why Ace Hardware's Redvest Media puts its proposition first, and why retailers need different technology strategies. 08:13 – The organizational cost of retail media technology: why pre-integrated solutions can't solve internal inertia and infrastructure challenges. 10:00 – What media buyers actually want, and why retailers need to acknowledge their place in the media plan.
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| Retail Media's Four Eras (Part 1 of 2) | 16 Sep 2026 | 00:10:55 | |
Retail media technology has already gone through several major reinventions. From retailers building their own ad tech stacks, to point solutions, cloud-based composable technology, and now AI-ready data infrastructure. In this episode, I’m recapping my recent article for The Drum, and exploring the four eras of retail media tech. More importantly, why these eras aren’t necessarily sequential. Across retail media networks today, you can find very different technology architectures operating at the same time, and I dig into what led up to this moment. Tomorrow, in part two, I’ll look at another framework for thinking about retail media technology investment and what all of this means for the brands actually buying retail media.
Timeline 00:00 — Why legacy ad servers are still holding retail media networks back
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| What It Now Takes For a Shopper To Switch Brands, Using AI | 15 Sep 2026 | 00:10:48 | |
Most shoppers are now using AI tools to shop, and they’re increasingly discovering new brands and products inside a chat window. That raises a practical question for anyone buying or selling commerce media: what does it actually take to get a shopper to switch to a brand they’ve never heard of when an AI assistant recommends it? In this episode, I’m sharing highlights from the new consumer study I collaborated on with Bazaarvoice, What Is a Brand Worth When AI Does the Shopping? We looked at price sensitivity, brand familiarity, consumer trust, product reviews, category risk, private label, and what happens when AI puts incumbent and challenger brands side by side. The findings suggest that AI shopping may be less of a race to the bottom than brands fear — but it does raise the bar for proving that a premium is actually worth paying. This episode is sponsored by GrowthLoop Timeline [01:41] - How much of a discount does it really take to make shoppers switch to a dupe? [02:30] - Why shoppers aren’t automatically choosing the cheapest option when AI presents them with multiple products [04:15] - The surprising strength of brand familiarity when AI makes the recommendation [06:15] - Why category risk changes how willing shoppers are to try an unfamiliar brand [07:30] - The role of reviews, photos, and video in making an unfamiliar AI-recommended brand credible [08:31] - What private label can teach challenger brands about competing against established national brands [09:11] - Why brands and retailers need to make their proof points findable by both shoppers and AI models
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| Amazon Extends Its DSP Into ChatGPT Ads | 14 Sep 2026 | 00:12:00 | |
Amazon is extending its DSP into ChatGPT, giving brands that already advertise through Amazon Ads a new way to reach consumers inside the ChatGPT app. But the headline isn’t actually the most interesting part of this announcement. The bigger story is what Amazon is doing with its DSP, and why it increasingly looks less like an Amazon advertising product and more like an advertising aggregation strategy. In this episode, I’m sharing Jo Lambadjieva's analysis of the Amazon–OpenAI advertising deal, along with a few of my own takeaways for enterprise brands and retailers operating retail media networks. Points raised include Amazon’s growing offsite advertising footprint, the role of first-party shopping data, why measurement could determine the future of AI advertising, and what this move means for retailers that may want to participate in ChatGPT advertising themselves.
Timeline [01:00] - Amazon Ads placements inside the ChatGPT app and why the mechanism matters more than the headline [02:15] - Why Amazon is positioning itself as the “buying pipe” across an expanding range of advertising surfaces [03:35] - Amazon’s two-part DSP pitch: lower fees and powerful first-party shopping data [05:00] - What deeper Amazon advertising concentration could mean for sellers and advertisers [05:37] - Why measurement and credible performance attribution will be critical for advertising on AI surfaces [08:05] - Could other retailers replicate Amazon’s ChatGPT advertising strategy, and what role does The Trade Desk play? [09:45] - Why offsite advertising is becoming such an important growth opportunity for retail media [11:00] - How every new surface strengthens Amazon’s USP as a DSP, and why this particular pilot still needs to be kept in proportion
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| Why Do Brand Marketers Love To Hate On Retail Media? | 10 Sep 2026 | 00:08:39 | |
There’s a new beef in marketing, and this one hits close to home: can retail media actually build brands, or is it really just trade promotion with a fancy name and a dashboard? Mark Ritson kicked off the debate by arguing that retail media is fundamentally a bottom-of-funnel, defensive investment. Andrew Lipsman pushed back, making the case that retail media can do something brand marketers have wanted for decades: reach people who aren’t currently buying your brand. In this episode, I dig into both sides of the argument, including the role of retailer data, off-site audiences, CTV, incrementality, ROAS and brand lift. I also look at some fresh Kantar data and ask a bigger question: are we actually debating what retail media is, or are we debating how marketers are choosing to spend their retail media budgets?
Timeline [00:00] - The new marketing beef over whether retail media can actually build brands [01:47] - Mark Ritson’s case against retail media as a brand-building channel [02:28] - How retailer data can reach lapsed, competitive and completely new buyers [05:45] - The surprising truth about where retail media budgets are really coming from [06:20] - What Kantar’s 1,500+ campaign analysis says about retail media and brand lift [07:30] - Why search and branded search dominate retail media spending, and why that matters [08:09] - The measurement question: ROAS vs. holdout studies and incrementality
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| Retail Media Isn’t a Cart. | 09 Sep 2026 | 00:11:23 | |
Today, I’m digging into a question that has been coming up more and more as retail media expands into a broader commerce media ecosystem: does commerce media really need to be tied to the cart? I’m narrating a guest contribution essay from Tom Limongello of The Middlemen Podcast that got me thinking differently about the distinction between retail media and commerce media. Specifically why SKUs and assortments are useful ways to understand retail media, but may not actually define it (and why the more important concept could be the shopper mission). Tom's essay also looks at travel media, where the network may own the audience and the moment of attention without owning the products ultimately purchased. And that raises some fascinating questions about measurement, attribution and who gets credit when multiple commerce media networks influence the same customer journey.
Timeline [01:45] - Questioning why the definition of commerce media is so focused on the cart [02:15] - Why a retail media ad can influence an in-store purchase even when the exposure happens on social [03:15] - Introducing “assortment” as a key piece of the retail media vocabulary [04:30] - Why SKUs are useful for operating retail media, but don’t necessarily define it [05:45] - How travel media demonstrates the value of shopper missions beyond a retailer’s own assortment [08:45] - The measurement challenge when one network owns the media exposure but another business records the transaction [09:45] - A broader definition of commerce media, and the questions this creates for travel, financial services and mobility
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| FTC v Amazon: Nothing Changes | 08 Sep 2026 | 00:10:17 | |
By now, you’ve probably read plenty of coverage about the FTC’s case against Amazon’s ad auction (last week I shared an article on The Drum). But the question I’m more interested in is the one that actually matters if you’re managing an advertising budget or running a retail media network: does any of this change where the money goes? My prediction, sadly, is no. Though I’d be very happy to be proven wrong. In this episode, I break down why cheaper clicks probably wouldn’t mean less money for Amazon, why advertiser outrage may not translate into budget shifts, and why this case gives other retail media networks a short window to make transparency and auction mechanics a competitive advantage. I also dig into some fascinating arguments from the LinkedIn comments, including whether Amazon’s auction practices may have distorted industry benchmarks far beyond the individual advertisers involved.
Timeline [00:55] - Why cheaper Amazon ad costs could actually lead advertisers to spend more [01:46] - Why advertiser budgets are unlikely to leave Amazon anytime soon [02:12] - The opportunity for other retail media networks to win on transparency and trust [03:05] - The questions advertisers should be asking about auction mechanics, reserve prices, and pricing changes [04:05] - Why the FTC’s Amazon case may be simpler to explain than the Google ad-tech case [07:20] - How potentially inflated clearing prices could have contaminated retail media benchmarks and bidding tools [09:35] - Why Amazon can disappoint advertisers morally and still be the best place to spend a performance dollar
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| The UK Takes A Run At Retail Media Aggregation | 03 Sep 2026 | 00:10:44 | |
Retail media has a fragmentation problem. We have better dashboards, better reporting, and better measurement than we did a few years ago. But media buyers are still being asked to navigate an ever-growing number of retail media networks and walled gardens. In this episode, I look at what’s happening in the UK, where two major retail media aggregation plays launched over the summer: RMX by Plan-Apps from SMG and the dunnhumby network alliance, involving Tesco, B&Q, John Lewis and Waitrose. I also share snippets of a conversation from the Retail Media Therapy podcast with Co-op Media Network’s Dean Harris about why these platforms are emerging now, and why the real driver may have less to do with retailers wanting to collaborate and more to do with what advertisers and agencies increasingly expect. But there’s a bigger question underneath all of this: what is retail media aggregation actually for? Is the value simply having one place to buy across multiple networks, or is it about being able to reach a particular audience in one place? And if competing retailers put their audiences into the same marketplace, do we risk turning retail media audiences into commodities and pushing CPMs down, just as programmatic advertising did to publisher audiences? That tension could determine whether retail media aggregation becomes a genuine solution to fragmentation or creates an entirely new set of problems for retailers.
Timeline [00:00] - Why retail media federations have suddenly become a much bigger story in the UK [01:35] - Dean Harris on the advertiser pressures driving retail media aggregation [03:18] - Why media buyers increasingly want simplicity, not another retail media platform [04:49] - The real value of aggregation: buying audiences across an entire retail sector [07:17] - The programmatic lesson: could retail media aggregation drive CPMs down? [08:19] - The strategic risks retailers need to consider before joining an aggregator [10:04] - What the publishing industry's history can teach us about retail media consolidation
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| Trip Report: Retail & Commerce Media Activations in Australia | 02 Sep 2026 | 00:15:24 | |
After living outside Australia for around 15 years, I’m experiencing retail and shopping here with fresh eyes. And one thing that has really caught my attention is just how much retail media is showing up in the physical world. In this first Trip Report, I’m taking you on a quick tour of six retail and commerce media activations I spotted around Perth. From Commonwealth Bank and Coles, to JB Hi-Fi, David Jones, Australia Post and digital out-of-home media in shopping centres. This isn’t about declaring one market “better” than another. Instead, I’m looking at what’s happening on the ground and using it as a source of inspiration for what’s possible in retail media around the world.
Timeline [02:22] - Why I’m starting these retail media trip reports, and why the goal is inspiration, not declaring one market better than another [03:08] - Commonwealth Bank’s surprisingly expansive retail media network, spanning branches, ATMs, its app and its Brighter magazine [05:14] - How Coles 360 is using in-store screens, loyalty data and programmatic capabilities to make physical retail media more measurable [06:15] - JB Hi-Fi’s transition from screens used for product demos to a more sophisticated, programmatic retail media network [09:06] - David Jones’ Amplify network and the use of AI cameras to track views and dwell time [10:00] - Australia Post turns parcel pickup infrastructure into an advertising opportunity, including a clever Vinted integration [12:00] - The scale of digital out-of-home media inside Australian shopping centres and how local screens connect to a national network
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| Ace Hardware's RMN Upfront Home Run | 01 Sep 2026 | 00:20:22 | |
Last Thursday, Ace Hardware took over Wrigley Field in Chicago for the first upfront from Redvest Media, its roughly year-old retail media network. I wasn’t there myself, so I called my friend Tom Limongello, host of The Middlemen Podcast, who was on the ground. I wanted to know what was happening beyond the press releases: who Ace put on stage, what the retailer was really trying to communicate, and what advertisers were saying afterwards. We dig into what Ace’s executive lineup reveals about the growing integration of retail media with the broader business, why audience innovation and weather targeting matter to Ace’s advertisers, and how partnerships like DoorDash are helping the retailer reach new customers. We also talk about why retail media networks may need to think differently about upfronts, vendor days and industry events — and why creating an experience that makes advertisers want to believe in the retailer could be a powerful part of the pitch.
Timeline [01:29] - How Ace is integrating retail media with merchandising and the broader business [03:21] - Why Redvest’s new brand and custom audience capabilities could enable better test-and-learn [04:31] - The message behind Ace’s executive presence and its growth investment [07:00] - Why advertiser trust is becoming critical for a newer retail media network [09:21] - Why weather targeting suddenly matters to Ace’s advertisers [12:00] - How DoorDash is helping Ace reach new customers, particularly Gen Z [14:30] - Why Wrigley Field may be a smarter retail media pitch than another industry conference
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| Is Retail Media Kidding Itself? | 31 Aug 2026 | 00:10:07 | |
Are retail media networks trying too hard to become media companies? In this episode, I’m sharing a thought-provoking piece from Mike Shields of Next in Media that asks whether the industry’s push toward off-site, full-funnel media is actually the right strategy for most retailers. Plus the tension between putting the “retail” back into retail media and chasing bigger brand budgets through CTV, DSPs and the open web. I also share some of my own thoughts on where retail media is heading, including the very different economics of on-site versus off-site advertising, why brands are demanding more measurement than the industry may be able to provide, and whether closed-loop attribution is sometimes creating more problems than it solves. If you’re thinking about the future of retail media networks, this is a debate worth paying attention to.
Timeline [00:43] - Why retail media’s off-platform push is really about accessing bigger brand budgets [02:00] - The debate over whether retail media networks should become full-fledged media companies [03:15] - Why “putting the retail back in retail media” is such a provocative idea [04:20] - The case for making specialist retailer data actionable beyond the retailer’s own ecosystem [06:24] - My thoughts on the different economics of on-site and off-site retail media [08:06] - Why the industry’s obsession with measurement may be creating a prison of its own making [09:18] - The attribution problem: when retail media sales add up to more than the brand’s actual P&L
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| Here’s where Amazon is spending its own advertising budget | 27 Aug 2026 | 00:13:23 | |
Amazon already captures roughly 40% of every dollar spent online in the US, yet it continues to grow at an impressive pace. So I wanted to look at a question we don't hear nearly enough: where does Amazon spend its own advertising money? Because while Amazon gives brands advertising recommendations every day, I think its own media plan may be the more interesting lesson. In this recap of my recent article for The Drum, I dug into three years of Sensor Tower data to see where Amazon is putting its advertising dollars, which channels are getting the biggest investment, and how its mix is changing. I also look at the shift from desktop display to video, why Amazon is willing to pay more for potentially fewer impressions, and what advertisers can learn from the company's approach to emerging channels.
Timeline [02:09] - Breaking down Amazon's $2.7 billion US advertising spend in 2025 [03:54] - Why Amazon's media plan looks surprisingly conventional [07:23] - How Amazon can measure Meta impressions against actual Amazon purchases [08:00] - What Amazon is actually advertising, from AWS and Prime to devices and the retail store [09:10] - The striking gap between Amazon's rising ad spend and relatively flat impression growth [10:20] - Why Amazon is shifting dramatically from desktop display into video [12:15] - The three habits I see in Amazon's media buying strategy
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| The Revenge Of The Catalog Team (Amazon Sponsored Prompts, Part 2) | 26 Aug 2026 | 00:14:46 | |
Advertising has always been the glamorous side of ecommerce, while product catalog maintenance, reviews, inventory, and other operational work have often been underfunded. But with Amazon’s Sponsored Prompts, that relationship is changing dramatically. This is Part 2 of my Sponsored Prompts series (check out Park 1 here), I’m digging into why your advertising account is now downstream of everything happening in your operations, and why content is no longer just an input to your ads; it is the ad. I’m also taking a closer look at product reviews, reporting limitations, bidding, and what Sponsored Prompts could ultimately mean for retail media teams. There are some legitimate concerns here, particularly around review manipulation and transparency, but I also see a fascinating upside: Sponsored Prompts could become a surprisingly powerful form of consumer research, as they could reveal the questions, objections, and selling points that actually convert.
Timeline [01:37] - Why your advertising account is now downstream of operations, including inventory, reviews, commercial terms, and product content. [03:18] - How Sponsored Prompts turns product content and backend inputs into the ad itself. [05:13] - Why fake and manipulated product reviews could become an even bigger problem when reviews are effectively being used as paid ad copy. [09:26] - Amazon advertising: bidding still works the same way, but advertisers now have less leverage at the auction level. [10:15] - Why Sponsored Prompts reporting is still surprisingly basic, and what Amazon’s slow rollout might tell us about the ad format. [12:49] - The unexpected upside: how Sponsored Prompts could uncover consumer questions and selling points that brands didn't realize they were underselling.
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| This Agency Abandoned MTA, Here's Why | 25 Aug 2026 | 00:11:46 | |
There’s a particular kind of vertigo that comes from watching a podcast you started get better without you. I launched the Ecommerce Braintrust podcast back in 2017, and while I’m no longer running it, I still listen because the team at Acadia is in the trenches every day doing the work. A recent conversation between my old Acadia colleagues on measurement really got me thinking about a question I hear from brands all the time: if every advertising platform says it’s winning, why don’t the business results reflect that? When Meta, Google, Amazon and retail media networks all claim credit for conversions, the numbers can quickly become impossible to reconcile. In this episode, I share snippets from a recent Ecommerce Braintrust episode that dig into the idea of “engine inflation,” why multi-touch attribution is struggling in 2026, and what brands should be using instead to understand what is actually driving incremental growth.
Timeline [00:00] - The measurement problem every advertiser is wrestling with: when every platform claims to be winning, why don't the business results add up?
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| Billed For The Ad Before The Ad Exists: Amazon Sponsored Prompts | 24 Aug 2026 | 00:10:16 | |
When Amazon unveiled Sponsored Prompts at Unboxed, I initially dismissed them as a clever but relatively minor addition to Alexa Shopping. But after digging into Andrew Bell's deep analysis of the underlying patent, I realized this format represents something much bigger and potentially far more disruptive. In this episode, I unpack why Amazon's new AI-powered ad format flips decades of digital advertising on its head by charging advertisers before the persuasive content is even generated! I explore what that means for brands, legal teams, product claims, customer reviews, and the future of retail media. This is Part 1 of a two-part series examining one of the most important shifts in AI advertising that brands should already be paying attention to.
Timeline [00:15] Why Amazon Sponsored Prompts seemed simple and why I completely underestimated their impact. [01:30] How Sponsored Prompts fundamentally reverse the traditional advertising model. [03:18] Why Amazon's "charge first, generate later" approach is unlike Google's dynamic advertising. [05:15] The legal and brand risks of AI-generated answers built from reviews and Amazon's own data. [06:00] Why advertisers may be shifting from buying attention to influencing AI-generated persuasion. [08:22] Is Sponsored Prompts the future of AI advertising or just an experiment?
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| The 'Effort Heuristic' In Retail Media | 20 Aug 2026 | 00:08:58 | |
What makes one retail media network stand out when so many seem to promise the same thing? In this episode, I explore a fascinating psychology concept called the 'effort heuristic', and explain why it has huge implications for retail media. When buyers can't easily judge technical quality, they look for visible signs that a retailer is investing, innovating, and genuinely building something worthwhile. I also share why transparency can become a competitive advantage, highlight Costco's retail media strategy as a standout example, and discuss where the line is between showcasing meaningful progress and creating announcement fatigue. If you're building, selling, or buying retail media, this episode offers a fresh perspective on what actually influences decision-making before performance data ever enters the conversation.
Timeline [00:00] The psychology study behind the effort heuristic, and why perceived effort influences perceived quality. [01:47] How the effort heuristic applies to retail media buyers evaluating competing retail media networks. [03:19] Why Costco's transparent approach to its retail media tech stack stood out, and what other retailers can learn from it. [05:43] The danger of over-marketing: when every product update becomes an "industry-first" announcement. [06:33] Why the largest retail media networks play by different rules than emerging RMNs competing for test budgets. [07:21] My advice for retailers and technology partners: show your work, earn credibility, and build trust through transparency.
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| I Downloaded The Data Amazon Has On Me. It’s Not Just Shopping. | 19 Aug 2026 | 00:10:45 | |
I finally did something I'd been meaning to do for a while: I requested the full Amazon Ads Consumer File to see exactly what Amazon knows about me. While I expected a few surprises, what I uncovered wasn't just a look into my own shopping habits. It opened my eyes to how brands that don't even sell on Amazon are increasingly using Amazon's audience data to reach consumers. In this episode, a recap of my recent article for The Drum, I unpack what I found inside my data export, why companies like airlines, banks, insurers and fast-food brands are targeting Amazon audiences, and what this tells us about the next evolution of retail media. If you've been wondering where retail media is headed beyond sponsored products and closed-loop attribution, this is a fascinating glimpse into what's coming next.
Timeline [00:00] Why I downloaded my Amazon Ads Consumer File, and the surprising discovery that nearly 400 companies had placed me into advertising audiences. [02:34] Why non-endemic brands are increasingly investing in retail media and what's driving this shift beyond traditional ecommerce advertising. [04:06] Real-world examples from Home Depot, Dick's Sporting Goods and Kroger that show how retailers are monetizing valuable first-party audiences. [05:15] Why only the most sophisticated retail media networks are positioned to successfully attract non-endemic advertising budgets. [07:16] Three major reasons Amazon DSP has become dramatically more attractive to non-endemic advertisers, from stronger audience data to better measurement. [09:15] My biggest takeaway after reviewing my own Amazon data, and why the future growth of retail media may come from brands that don't have products on retailers' shelves at all.
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| Will Agentic Media Buying Be The End Of Us All? | 18 Aug 2026 | 00:10:04 | |
I've been wrestling with a question that's becoming impossible to ignore: will agentic media buying fundamentally reshape retail media, or even eliminate parts of today's ecosystem? As AI-powered agents begin making more decisions across ad buying, optimization, and measurement, it's worth asking who wins, who loses, and whether the way advertising dollars flow today will look anything like it does a year or two from now. In this episode, I share highlights from an insightful conversation on the Ad Tech Therapy podcast, where Scott Messer and Jana Meron responded to my question about the future of agentic media buying. They unpack whether AI will truly collapse the ad tech stack, why history suggests the industry is more likely to evolve than disappear, and what all of this could mean specifically for retail media. If you've been wondering how AI will impact agencies, retailers, brands, and ad tech platforms, this episode is for you.
Timeline 00:00 – The question I can't stop asking: Will agentic media buying disrupt retail media as we know it? 01:03 – Why I posed this question to Scott Messer and Jana Meron, and the challenge I gave them. 02:00 – Fear, disruption, and why concerns about AI replacing jobs are both rational and useful. 03:30 – Will AI eliminate layers of the ad tech ecosystem or simply make them more efficient? 06:30 – How retail media's technology stack differs from traditional programmatic advertising. 09:00 – My biggest takeaway: Retail media isn't losing layers, it's reorganizing them.
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| What If You Ordered Lunch Like You Bought Retail Media | 17 Aug 2026 | 00:09:16 | |
What if ordering lunch sounded like the way many brands buy retail media? That was the inspiration behind my latest comedy skit... but beneath the joke is a serious question about how retail media is changing the way marketers think about growth. In this episode, I unpack a thoughtful LinkedIn post from Juliana Nodwell, and connect it with several of my past articles about why precision isn't the same as purpose. I explore where retail media truly excels, why brand marketing and retail media serve different jobs, and how confusing the two can actually weaken long-term growth. Along the way, I revisit insights from Jordan Witmer, Steve Gray, and Jason O'Toole that challenge some of the industry's biggest assumptions about full-funnel marketing.
Timeline 00:00 – My comedy skit that pokes fun at today's retail media buying habits. 00:52 – Juliana Nodwell's argument: Are marketers confusing precision with purpose? 02:25 – Why retail media and brand media have different jobs, and why that's okay. 04:09 – Jordan Witmer explains how budget ownership shapes retail media strategy. 06:44 – What How Brands Grow teaches us about the metrics that actually build brands. 07:46 – Why investing in brand media can make performance media more efficient over time.
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| 'Nobody Wakes Up Wanting To Chat With A Retailer' | 13 Aug 2026 | 00:10:30 | |
We've spent the last year watching retailers race to launch AI shopping assistants, but I think we're asking the wrong question. Instead of obsessing over who has the smartest chatbot, we should be asking: What job are shoppers actually hiring these AI assistants to do? In this episode, I unpack insights from a fascinating recent conversation on Jason Del Rey's newsletter The Aisle with former Amazon and Walmart product leader Mukesh Jain, explore why "nobody wakes up wanting to chat with a retailer," and explain why the future of AI shopping may have far less to do with conversation than we think. Along the way, I revisit one of my own predictions about retailer AI, and explain why recent research has changed my perspective. This episode is sponsored by GrowthLoop Timeline 00:00 – Why Clayton Christensen's "Jobs to Be Done" framework is still the best way to think about AI shopping assistants. 02:15 – The three distinct shopping jobs AI needs to solve, and why chatbots aren't the answer for every one of them. 03:32 – The quote that changed how I think about retailer AI: "Nobody wakes up wanting to chat with a retailer." 06:00 – Will ChatGPT and Gemini win shopping discovery, or can retailers build assistants shoppers actually return to? 08:28 – Why I changed my mind about Amazon Rufus, and what Kantar's latest research revealed about what consumers really value. 10:00 – My biggest takeaway: today's retail AI chatbots are just the beginning, not the finished product.
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| AI Agents in Retail Media: Why Media Buyers Aren’t Ready for the Agentic Revolution | 12 Aug 2026 | 00:08:51 | |
AI agents are suddenly everywhere in retail media. Platforms, agencies, and retailers are all promising to automate media planning, buying, optimization, and reporting. But how ready are the people actually running these campaigns to hand over the keys? In this episode, a recap of my recent article for The Drum, I dig into new Skai research on “agentic readiness” among paid media practitioners, including why leadership and practitioners appear to have very different views of how ready their organizations really are. I also look at why retail media should theoretically be a perfect environment for agentic buying, the challenges facing mid-market advertisers, and what could happen if every network, agency, and platform launches essentially the same AI agent.
Timeline [01:32] - Breaking down Skai's survey of 332 paid media practitioners and its nine dimensions of agentic readiness [01:47] - Why the average agentic readiness score was just 35.7 out of 100 [03:20] - The surprising gap between C-suite confidence and the reality experienced by media-buying practitioners [05:35] - Why retail media should be particularly well suited to AI agents and closed-loop optimization [06:37] - The relationship between advertiser sophistication and adoption of algorithmic media buying [07:06] - How Chewy Ads is approaching the tension between automated buying and sophisticated advertisers [07:51] - Why an “agentic arms race” could leave the industry with lots of announcements — and a very large token bill
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| AI Slop Is Flooding Retail Media — Why Human Judgment Matters More Than Ever | 11 Aug 2026 | 00:09:16 | |
When I launched my first podcast back in 2017, I worried I'd already missed the opportunity. Nine years later, I'm asking a different question altogether: does the format even matter anymore? In this episode, I dig into what my latest LinkedIn audience poll revealed about how retail media professionals actually consume information. And why, despite the explosion of AI-generated content, newsletters and written analysis remain the preferred format. I also explore what "AI slop" means for creators, marketers, and corporate leaders, and why I believe the real competitive advantage isn't the medium you publish in — it's the quality of your judgment. If you're building your career, your content, or your company's influence in the age of AI, this episode is for you.
Timeline 00:00 – Why I thought I was too late to start podcasting and why I was wrong. 01:24 – What changed (and didn't) in my LinkedIn poll on how retail media professionals consume industry news. 03:00 – The rise of AI-generated "slop" on LinkedIn and why platforms are starting to push back. 04:30 – Why newsletters continue to outperform other formats for busy B2B professionals. 06:14 – If AI can generate text, audio, and video, what actually creates lasting value? 07:30 – The internal communication strategy that's becoming obsolete: and what leaders should do instead.
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| Retail Media Fact vs Fiction: AI, Marketplaces & the Biggest Growth Opportunities Ahead | 10 Aug 2026 | 00:11:33 | |
Today I'm sharing highlights from a lively panel discussion I joined at Cannes, hosted by The CPG Guys and sponsored by Sensor Tower. Alongside fellow retail media analysts Andrew Lipsman, Sarah Marzano and Debbie Aho Williamson, we unpacked some of the industry's biggest debates: from what's really holding retail media networks back to where the next wave of growth is likely to come from. We didn't agree on everything — and that's exactly what made the conversation so valuable! We explored the future of marketplaces, the opportunities for retailers beyond Amazon and Walmart, and whether AI is already driving more commerce than current analytics can actually measure. If you're trying to separate the hype from reality in retail media, this episode is packed with ideas that will challenge your thinking.
Timeline [00:00] Why I wanted to share this Cannes panel discussion — and why healthy disagreements make the retail media industry stronger. [01:42] My perspective on the "internal demons" of retail media networks and why organizational structure determines what an RMN can become. [03:00] Sarah Marzano explains why long-tail retail media networks need a different playbook (and why physical stores may become their biggest media advantage). [04:08] Andrew Lipsman makes the case for marketplaces as one of the biggest drivers of retail media growth. [05:15] Debbie Aho Williamson shares surprising data on retailer advertising inside ChatGPT and why Best Buy stood out. [08:09] We debate whether AI-driven shopping traffic is being dramatically undercounted, and why measuring AI referrals may be much harder than it appears.
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| 11% of Consumers Think They've Already Shopped with AI — Here's Why That Changes Everything | 06 Aug 2026 | 00:11:31 | |
This week, I'm sharing snippets of a conversation from The Watson Weekly, one of my favorite podcasts, where host Rick Watson sat down with Holden Bale, Global Chief Strategy Officer at Merkle. One statistic mentioned completely stopped me in my tracks: 11% of consumers believe they've already purchased products directly through AI assistants like ChatGPT and Gemini. Even though, in most cases, that simply isn't possible. What fascinated me wasn't that consumers are wrong: it's why they're wrong. We explore what this tells us about the future of AI-powered shopping, why perception may matter more than transaction data, and how today's "halo effect" could shape tomorrow's commerce landscape. We also dig into one of the biggest challenges facing AI assistants: building enough personal context to become truly useful shopping companions.
Timeline 00:00 – Why one surprising AI shopping statistic immediately caught my attention 01:26 – The "misunderheard" consumer: why 11% believe they've already shopped through AI 02:18 – What social commerce teaches us about consumer perception versus actual transactions 04:49 – Why consumers believing they shopped with AI may be more important than whether they actually did 06:45 – The missing ingredient for AI commerce: personalization, memory, and shopping context 09:30 – Why marketplaces and order history could determine who wins the AI shopping race 10:46 – A preview of my own experiment using Amazon purchase history inside an LLM
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| How AI Will Reshape Retail Media (And Why Great Retailers Will Still Win) | 05 Aug 2026 | 00:13:37 | |
I recently joined Wendy Liebmann on the Future Shop podcast for a conversation about one of the biggest questions facing retail today: what happens to retail media as AI changes the way people shop? In this episode, I share snippets from my chat with Wendy and explore why the current retail media model may be heading for a major shift, how AI-powered shopping assistants could dramatically reduce ad inventory, and why retailers shouldn't panic. We also dig into what will continue to differentiate successful retailers in an AI-first world i.e. why customer experience, convenience, and unique value propositions matter more than ever. If you're thinking about the future of retail, ecommerce, or advertising, this is a conversation you won't want to miss.
Timeline [00:22] – Why AI is fundamentally changing shopping behavior and what that means for retail media. [01:41] – How retailers should rethink customer journeys instead of focusing only on ad placement. [03:27] – My analysis of Amazon's Rufus and why AI shopping assistants could dramatically reduce available advertising inventory. [05:10] – What shrinking ad supply could mean for retail media economics and retailer revenue models. [07:46] – Why Costco is a powerful example of building retail media around customer value instead of maximizing ad volume. [11:25] – The lesson retailers should take from real-world shopping decisions: convenience and experience often beat price.
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| Why Dick's Sporting Goods Is Rejecting the Retail Media Playbook | Dave Young's Bold Strategy | 04 Aug 2026 | 00:11:33 | |
What if the biggest mistake a retail media network can make is trying to copy Amazon? In today's episode, a recap of my recent article for The Drum, I unpack a fascinating conversation I had with Dave Young, GM of Retail Media at Dick's Sporting Goods. Dave has intentionally moved away from the term retail media network in favor of something much more reflective of what they're actually building: a commerce-enabled sports network. I explore why that distinction matters, why differentiation has become essential for specialty retailers, and what Dick's unique approach could signal for the future of retail media. I also break down why so many retail media networks fall into the same commodity trap, how first-party sports data from the GameChanger youth sports app creates a different competitive advantage, and why organizational structure may be just as important as technology when building a successful media business. This episode is sponsored by GrowthLoop Timeline [00:00] Why Dave Young is intentionally avoiding the term "retail media network." [01:26] Why copying Amazon's retail media playbook is a losing strategy for specialty retailers. [03:00] How GameChanger gives Dick's Sporting Goods a unique first-party data advantage beyond purchase history. [05:45] Why reporting into the CMO changes the way retail media partnerships are built. [07:21] Inside Dick's World Cup campaign with Adidas — and why differentiated campaigns matter more than sponsored products. [09:36] The biggest lesson: retailers win by building media businesses around their own strengths, not someone else's playbook.
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| I'm Completely Out Of The Loop (Lessons From My Summer Break) | 03 Aug 2026 | 00:11:43 | |
After taking a few weeks completely offline, I'm back! And surprisingly, being out of the loop has been one of the best things I could have done. In this episode, I share why disconnecting from retail media, AI headlines, LinkedIn, and industry news gave me a fresh perspective on both my work and the consumers we're all trying to serve. I also give you a personal update on my family's move back to Australia, what's ahead for Retail Media Breakfast Club this season, the projects I'm most excited about, and why I'm doubling down on what's already working instead of chasing every shiny new opportunity. If you've ever felt like our industry moves faster than reality, I think you'll enjoy this episode. This episode is sponsored by GrowthLoop Timeline [00:00] What I learned by completely unplugging. [01:09] Why being "out of the loop" reminded me that industry urgency often isn't real life. [02:15] Reconnecting with the mindset of the everyday consumer and why that's so important for retail media. [05:45] An update on my family's move back to Perth, Australia, and settling into our new chapter. [06:45] Why I'm avoiding shiny object syndrome and focusing on sustainable growth for the rest of the year. [07:46] The projects I'm most excited about, including funny industry videos, GrowthLoop, Basket Case, and rediscovering Australian retail. Links & Resources
The Books When dreaming of my European vacation I only had one vision in mind: park my butt on various beaches, eat great food, and read a fat stack of novels. On these metrics, the vacation was a huge success. I didn’t have any luggage space for souvenirs, but I gained some souvenir weight (!!) and made a solid contribution to my Goodreads “read” list. Here are my faves:
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| Mirakl Ads at Cannes: Commerce Media Skips Its Own Lion | 29 Jun 2026 | 00:09:51 | |
Every year, Cannes Lions promises to bring the advertising world together. But if you work in retail media, you've probably noticed that our corner of the industry heads home long before the festival's biggest creative awards are handed out. After hosting an invite-only breakfast with Mirakl Ads on Thursday morning, I wanted to share the conversations that stuck with me before everyone scattered back home. In this episode, I unpack why the gap between commerce and creativity still exists, where I saw genuine progress this year, and why in-store retail media, measurement, and creative storytelling dominated the discussion. From Dollar General's approach to bringing leadership into the conversation, to Albertsons' bold experiment with original branded content, there are signs that retail media is evolving: but not necessarily in the ways many expected.
[00:00] Why the commerce crowd leaves Cannes before the festival's biggest creative moments. [02:14] My biggest takeaway from this year's Cannes: fewer retailers, stronger side conversations, and why the divide still exists. [03:15] Why Dollar General Media Network's decision to bring its CMO could signal an important shift for retail media leadership. [04:30] The real challenge with in-store retail media: why not every screen is actually valuable advertising inventory. [06:41] Mirakl Ads and Broadsign announce a partnership aimed at unifying online and in-store retail media campaigns (and the measurement questions that remain). [07:21] Albertsons and P&G's scripted series Rico's Tacos offers a glimpse into how retail media data could shape creative work from the very beginning.
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| Same Words, Different Forks: Recap of eMarketer & Sensor Tower Commerce Media Executive Briefing at Cannes Lions | 26 Jun 2026 | 00:10:26 | |
Fresh from Cannes Lions, I'm unpacking one of the biggest themes that kept surfacing across analyst discussions: retail media's greatest obstacles aren't external — they're internal. While everyone is focused on AI, tariffs, and the next wave of disruption, the conversations I heard pointed somewhere much closer to home. Misaligned organizations, inconsistent measurement, and teams speaking the same language but meaning completely different things may be holding retail media back more than any emerging technology. I also share highlights from an analyst panel featuring Sarah Marzano, Andrew Lipsman, Debbie Aho Williamson and myself. We debated "dark search," AI-assisted shopping, attribution, and whether generative AI is fundamentally changing commerce, or simply accelerating trends that were already underway. If you're trying to understand where retail media is headed next, this episode connects the dots.
[01:00] eMarketer's forecast: Retail media surpasses $100 billion, and why slower growth could actually signal maturity. [02:16] The "same words, different forks" analogy explains why brands, retailers, and media teams keep talking past one another. [03:49] I share my perspective on "dark search" and how AI assistants are quietly reshaping product discovery before shoppers ever reach a retailer. [05:25] Andrew Lipsman challenges the "dark search" narrative, arguing the real issue is attribution, not visibility. [07:09] Our debate turns to agentic commerce: Is AI changing shopping behavior or simply improving search? [08:30] Debbie Aho Williamson shares real-world ChatGPT shopping examples and early advertising data that could reshape how retailers think about discovery.
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| When Sam's Club "Connects" With Walmart, What Actually Connects? | 25 Jun 2026 | 00:10:38 | |
When I sat down with Harvey Ma at Cannes Lions this week, I wanted to understand what was really happening behind Walmart’s announcement that it was bringing Walmart Connect, Walmart Connect International, and Sam’s Club’s retail media business into closer alignment. On the surface, it looks like a straightforward consolidation storY. But as Harvey explained, the reality is much more nuanced. In this episode, I unpack what the new Sam’s Club Connect brand means for advertisers, how Walmart and Sam’s Club plan to share technology and measurement capabilities, and why maintaining distinct shopper experiences may be more important than achieving scale. I also explore the surprising differences between Walmart shoppers and Sam’s Club members, and what this tells us about the future of retail media consolidation.
00:24 – Walmart announces a major restructuring of its global advertising business, bringing Walmart Connect and Sam’s Club closer together. 02:05 – What the launch of Sam’s Club Connect actually means and why “operate separately, increasingly aligned” is the key phrase to understand. 03:31 – Harvey explains how Sam’s Club’s deterministic member data creates a unique measurement advantage that can benefit Walmart. 04:10 – How Sam’s Club’s experiential retail media expertise—from demos to sampling—could influence Walmart’s broader strategy. 06:19 – Harvey shares why the overlap between Walmart shoppers and Sam’s Club members may be much smaller than advertisers assume. 07:57 – The biggest misconception about the announcement: why Walmart isn’t trying to create “one blob” of retail media. 09:05 – What the Sam’s Club Connect rebrand reveals about retail media consolidation, commerce media networks, and the limits of scale.
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| Cannes Lions 2026 Dispatch: Agentic Media Buying, Retail Media Shakeups, and the Future of Creator Commerce | 24 Jun 2026 | 00:09:47 | |
I’m coming to you once again from Cannes, this time from the PayPal Ads Café on the Croisette. It’s been a whirlwind few days here, not just in terms of meetings and panels, but also the unexpected number of conversations I’m having about my upcoming move from the U.S. back to Australia. Let’s just say the global retail media community has opinions. In today’s dispatch, I’m sharing early signals from Cannes around agentic media buying, retail data infrastructure, and the evolving intersection of creators and retail media. From Walmart’s latest moves with Sam’s Club Connect, to how CPGs are thinking about data lakes and in-store stock accuracy, to the rise of hyper-local creative and 3D digital out-of-home, there’s a lot shaping what comes next for retail media.
[00:00] Kicking off from Cannes: reflections from the PayPal Ads Café and the unexpected reactions to my move back to Australia. [00:45] A preview of tomorrow’s conversation with Harvey Ma from Sam’s Club Connect and Walmart’s broader retail media rebrand and strategy shift. [01:27] Early CPG thinking on agentic media buying, including using data lakes for in-store stock tracking before even applying it to advertising use cases. [03:15] The rise of creator-led retail media strategies: how major retailers like Walmart, Amazon, Target, and Kroger are building creator networks and evolving affiliate models. [06:15] Nestlé, Dollar General, and Big Happy showcase how hyper-local creative, dynamic optimization, and 3D digital out-of-home are reshaping retail media execution. [09:00] Final reflections from Cannes and what I’ll be digging into next, including upcoming interviews and behind-the-scenes conversations.
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