Unlocking Retail Media 3.0: Measurement and Innovation

Sep 11, 2024

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S4:E5 Unlocking Retail Media: Measurement, Innovation, and Customer Engagement

In this episode of The Retail Razor Show, hosts Ricardo Belmar and Casey Golden explore the evolving landscape of retail media with expert insights from Andrew Lipsman, analyst and founder of Media, Ads + Commerce, and James Bauer, CEO and founder of Venvee. They discuss the progression of retail media 1.0 with online ads to retail media 2.0 - in-store media, highlighting key metrics like closed-loop attribution and incrementality. The conversation moves into innovative technologies such as spatial AI, the importance of first-party data, and privacy concerns. They also emphasize the collaborative efforts needed to integrate these advancements effectively for full funnel customer conversion and attribution in retail media 3.0. This episode delivers a comprehensive overview of how retailers and brands can use modern technology to bring the same level of measurement currently enjoyed in the 15% of retail sales happening in ecommerce, to the larger 85% of sales happening in stores!

About Andrew Lipsman:

Andrew Lipsman is an independent analyst and consultant at Media, Ads + Commerce. His industry coverage specializes in retail media—which he is known for anointing as “digital advertising’s third big wave”—and other areas of the digital media, advertising, and commerce ecosystem. He has published more than a half dozen articles in the Journal of Advertising Research and is frequently quoted in The New York Times, The Wall Street Journal, The Economist, The Financial Times, and Advertising Age.

About James Bauer:

James Bauer is the Founder and CEO of Venvee, a retail media technology company that is closing the loop on in-store measurement and attribution. Venvee leverages AI-generated digital twins of physical stores, combined with computer vision running on existing cameras, to enable precise measurement of impressions, interactions, and conversions on a shopper-by-shopper basis. This innovative approach requires no changes to the store and provides comprehensive aggregate measurement for in-store video, audio, fixtures, and products.

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00:00 Show Intro

02:50 Exploring Retail Media 3.0 & Measurement

03:29 Evolution of Retail Media

07:08 In-Store Attribution and Measurement

14:44 Challenges and Opportunities in Retail Media

32:37 Future of Retail Media and Final Thoughts

44:43 Show Close

Meet your hosts, helping you cut through the clutter in retail & retail tech:

Ricardo Belmar is a RETHINK Retail Top Retail Expert for 2021 – 2024, and a Thinkers 360 Top 10 Retail Thought Leader, Top 50 Management Thought Leader, and Top 100 Digital Transformation Thought Leader. He is an advisory council member at George Mason University’s Center for Retail Transformation, and director partner marketing for retail & consumer goods at Microsoft.

Casey Golden, CEO of Luxlock, RETHINK Retail Top Retail Expert for 2024 and 2023, and Retail Cloud Alliance advisory council member. Obsessed with the customer relationship between the brand and the consumer. After a career on the fashion and supply chain technology side of the business, now slaying franken-stacks and building retail tech!

Includes music provided by imunobeats.com, featuring Overclocked, and E-Motive from the album Beat Hype, written by Hestron Mimms, published by Imuno.