Retail Media – what sort of questions should brands now be asking?

Retail media as a separate area is on the cusp of coming of age. It is not quite there yet and sometimes it seems like it’s two steps forward and one step back. Nonetheless brand and shopper marketing teams are looking to in-store media as being more than just glorified POS supporting a promotion or a new product launch.

This throws up many questions. Not least how do we compare retail media to more traditional non-retail media in terms of reach and frequency – the standard measure still used by media agencies? In turn it can be asked, are these relevant metrics for in-store for surely isn’t one of the great values of in-store media is the ability to directly (in some instances) measure its impact on uplift? Well yes but as one very very senior CPG media leader has also stated very clearly they need to know how media value can be attributed outside just uplift. What’s the store footfall? Is it possible to calculate a GRP-type measure for individual media or at least the store zones they’re in? Are shoppers actually aware of retail media? Do they perceive retail media in the same way as the other media they watch and read? Does a retailer’s free magazine have the same standing with its readers as a paid for magazine?

If retail media wants to be treated the same as other media then what additional added value does it offer over other media? Can it build brand equity? Can it drive long-term change or just immediate-but-not-repeat purchasing behaviour?

There are lots of hypotheses swimming around but currently few answers.

Rufus Evison