How Retail Media took over the ad business seemingly overnight

Next in Media spoke with Dave Peterson. general manager, global head of retail media at Epsilon, about his experience building out Target's retail media business, why the industry desperately needs standards and consolidation, and why he's bullish on CTV shopping.

Takeaways

• Retail media is a growing industry that has its origins in the early 2010s, with only a few players at the time.

• There is still a lot of room for growth and innovation in retail media, with only 37% of retailers having offsite media capabilities.

• The industry needs to focus on standardization in measurement and address challenges such as fragmentation and identity.

• Retail media is not just a bottom-of-the-funnel solution; it can be a full-funnel solution that combines brand and performance marketing.

• The future of retail media lies in a consumer-centric approach, reaching individuals with relevant ads in the context of where they are.

Chapters

00:00 - Introduction and Background

00:44 - The Origin Story of Retail Media

08:31 - Expanding Retail Media to the Open Web

12:39 - Different Approaches in the Retail Media Landscape

14:06 - Challenges in Retail Media and the Need for Innovation

20:23 - The Potential for Consolidation in Retail Media

22:33 - Bridging Retail Media and CTV

28:59 - Retail Media Beyond the Bottom of the Funnel

31:37 - The Consumer-Centric Approach to Retail Media

Guest: Dave Peterson

Host: Mike Shields

Sponsored by: Epsilon

Produced by: Fresh Take