Retail Media Breakfast Club

Kiri Masters
  • 5.0 (10)
  • MARKETING
  • UPDATED DAILY

10 minutes of expert insights every weekday. Your morning ritual for staying ahead in retail media.

  1. US vs EU Retail Media: The 5 Structural Barriers Reshaping In-Store Advertising

    12H AGO

    US vs EU Retail Media: The 5 Structural Barriers Reshaping In-Store Advertising

    This episode is sponsored by Mirakl Ads Timeline 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. Links & Resources My 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

    9 min
  2. Retail Media 3.0: Why AI & Agentic Commerce Could Spark the Golden Era of Advertising

    1D AGO

    Retail Media 3.0: Why AI & Agentic Commerce Could Spark the Golden Era of Advertising

    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 Ads Timeline [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 & Resources Watch 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

    12 min
  3. ROAS Refuses to Die: The Retail Media Measurement Problem No One Wants to Fix

    5D AGO

    ROAS Refuses to Die: The Retail Media Measurement Problem No One Wants to Fix

    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 Ads Timeline [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 & Resources Check 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

    9 min
  4. AI Won’t Kill Advertising: The Bull Case

    6D AGO

    AI Won’t Kill Advertising: The Bull Case

    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 Ads Timeline [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 & Resources The 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

    13 min
  5. Dark Search & Broken Retail Media Signals: How AI Shopping Is Reshaping the Future of Commerce

    FEB 24

    Dark Search & Broken Retail Media Signals: How AI Shopping Is Reshaping the Future of Commerce

    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 Ads Timeline [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 & Resources Check 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

    9 min
  6. Retail Media Standards Showdown: Why Brands Want Them (And Why Retailers Push Back)

    FEB 23

    Retail Media Standards Showdown: Why Brands Want Them (And Why Retailers Push Back)

    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 Ads Timeline [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 & Resources The 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

    11 min
  7. AI Is Already Disrupting Retail Media Via 'Dark Search' Traffic

    FEB 20

    AI Is Already Disrupting Retail Media Via 'Dark Search' Traffic

    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 Ads Timeline [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 data Links & Resources Watch 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

    10 min
  8. AI Is Stealing the Browse: How Retail Media Wins the Data War in the Age of ChatGPT

    FEB 19

    AI Is Stealing the Browse: How Retail Media Wins the Data War in the Age of ChatGPT

    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 Ads Timeline [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 & Resources Check 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

    12 min
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About

10 minutes of expert insights every weekday. Your morning ritual for staying ahead in retail media.

Information

  • Creator
    Kiri Masters
  • Years Active
    2024 - 2026
  • Episodes
    216
  • Rating
    Clean
  • Copyright
    © 2026 Kiri Masters
  • Show Website
    Retail Media Breakfast Club

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