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?

This episode is sponsored by GrowthLoop

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

Links & Resources

• On August 27, Mark Ritson published a column in ADWEEK called "Don't Let Retail Media Tell You It's Brand Building."
• Andrew Lipsman answered in his own ADWEEK op-ed five days later: "Retail Media Can Build Brands—Including Ways Other Media Can't."
• Josh Clarkson, who runs global retail media at Mars, attacked Ritson's retail media definition on LinkedIn
• Brian Spencer, marketing director at Kroger Precision Marketing, explained on LinkedIn that brands use retail media audiences across CTV, audio and social, not just onsite on a retailer's website.
• Across 1,589 campaigns in their LIFT database, Kantar finds that retail media beats the average channel on unaided awareness (0.9 versus 0.6), online ad awareness (7.6 versus 6.5), brand favorability (3.9 versus 3.6) and purchase intent (3.8 versus 3.4)
• Read my related articles:
  • How retail media could become 'mid'
  • Brands Are From Mars, Retailers Are From Venus
  • The ‘How Brands Grow’ Dogma Wants To Have A Word With Retail Media
• Check out Basket Case, a project I’m part of with The Drum and QSIC, an irreverent and lively podcast series talking shop: latest episode
• I'm sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclub
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• Follow Kiri Masters on LinkedIn