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[Watch on Demand] IAB Europe's, The Great Debate - Retail Media 2024

May 01,2024
Amy Mazzola
retail mediaRetail MediaRetail MediaWatch on Demand

On April 23rd, 2024 we went to the vibrant city of Amsterdam, Netherlands for our 2024 Great Debate on Retail Media. This hybrid event was hosted by GroupM and attended by IAB Europe members from all around Europe while being streamed live to our wider network. 

You can catch up on all sessions below and hear from industry experts as they delve into the nuances of Retail Media and its profound impact on the European market.

Presentation: Retail Media in Europe - The Next 12 Months

In this opening keynote, our Chief Economist, Daniel Knapp, shares the latest Retail Media trends in Europe. He explores how Retail Media will evolve over the next 12 months and what the industry needs to do to facilitate the continued growth of Retail Media in Europe.

Key takeaways include:

  • Retail Media has great potential but needs to evolve further to unlock demand.
  • Audience and data (i.e. non-media) are key to the growth of Retail Media networks.
  • In terms of the programmatic Retail Media space, this has been largely untapped by Retailers so far. 
  • The emergence of scaling models such as alliances and Retail Media as a service are starting to be seen, which is of great interest. 

Watch here

Presentation: Retail Media Standards - Yara Daher, Retail Media Consultant, IAB Europe

Following the opening keynote presentation, we heard from our Retail Media Consultant Yara Daher on the important work that was in development for the first iteration of the Retail Media Measurement Standards for Europe which provides media buyers with a framework for consistent metrics to compare their retail media investment. 

Key insights include:

  • Standards are essential. One of the main Retail Media pain points is that there needs to be more standardisation.
  • There is a huge understanding of the importance of third-party verification of the Standards.
  • IAB Europe’s roadmap for the second version of the Standards includes formats, certification and measurement. 

Watch here

Panel 1: Closing the Retail Media Standards Loop 

The first panel brought industry experts together to discuss the importance of the standards, how they will advance the Retail Media space, and what needs to be addressed next. The panel also addressed how Retail Media can provide campaign and audience insights that are unique to Retail Media investments.

Speakers included:

Key highlights included:

  • The panel agreed that it is important to have common definitions and an understanding of Retail Media in the form of standards so buyers can make comparisons and more informed decisions. For brands, it is important to have comparable data to place investments fairly and understand what is working most efficiently. 
  • Standards help each stakeholder to understand not only how they can access inventory but also how they can measure and monitor progress consistently. The panel agreed that this is key to the growth of the market. 
  • One of the biggest challenges in Retail Media measurement is In-Store and should be a priority for the next version of the standards. 
  • It was suggested by the panel that if we start with digital elements in-store online standards can then be transitioned more easily to offline.
  • When it comes to Omnichannel approaches, it was recommended that stakeholders encourage retailers to talk about what is possible and to work collaboratively with partners to establish the best approach. Overall it was agreed that first the standards should focus online, and then offline before Omnichannel is tackled. 
  • When it comes to third-party verification of standards, the conversation turned to its importance but there was a consensus that this needs to be discussed further to see when it will be feasible to achieve this. 

Watch here

Presentation: Retailer Case Study, Justin Sandee, Director Commercial Development, bol Retail Media

Next, we dived into an insightful Retail Media case study from a bol.com. During the presentation, Justin dives into three key areas: Retail Media as the third wave of advertising, how Retail Media impacts traditional media investments, and how it can bridge the gap between sales and marketing.

Watch here

Panel 2: Showcasing The Power of Retail Media

The second panel of the event explored the current capabilities of Retail Media networks in Europe and how retailers can scale their offerings. The panel also discussed how retailer roadmaps will evolve in areas such as digital in-store evolution.

  • Moderator: Jason Wescott, Global Head of Commerce Solutions, GroupM
  • Maria Kristalinskaya, Head of Retail Media, Kleinanzeigen, Adevinta
  • Stefan Heijdra, VIA Retail Media Taskforce
  • Marielle Slenders, Head of Media & Performance, AS Watson Health & Beauty Benelux
  • Justin Sandee, Director Commercial Development, bol Retail Media

Key takeaways include:

  • The panel recognised that there has been a monumental shift in ad spend toward Retail Media. Brands seek better returns on investment (ROI), prompting them to explore new alternatives such as Retail Media. 
  • The importance of understanding the advertiser and the operator’s perspectives in Retail Media was discussed. By considering, communicating across, and balancing these roles, Retail Media strategies have the potential to become mutually beneficial as they are more effective and align better with the advertiser’s goals.
  • The panel then moved on to key challenges. They discussed how integrating Retail Media with traditional retail operations presents significant challenges. At present Retail often remains the priority, making Retail Media seem like an add-on rather than an integral component of the marketing mix. All participants also discussed managing and utilising data in this space as a challenge. 
  • To drive Retail Media forward and optimisie strategies, the panel discussed the crucial need for effective management and utilisation of data. They emphasised the need for sophisticated data handling capabilities to ensure that Retail media not only reaches its targeted audience but also delivers ROI. 
  • Overall, the panel highlighted that Retail Media is an important element of the marketing mix, capable of delivering targeted and effective digital advertising. As the space continues to evolve, understanding the intricacies of its operations and the strategic use of data will be crucial to its continued growth. 

Watch here

Panel 3: The Evolution of Retail Media - Upper Funnel and Beyond

The panel explored how retail media ads are moving up the funnel and the activation of data clean rooms.

Key highlights included:

  • The panel started the conversation by discussing a pivotal shift in Retail Media from conversations to influencing brand awareness and product consideration phases of the marketing funnel. This strategic evolution enables brands to leverage Retail Media for broader marketing objectives, extending its impact beyond direct sales. 
  • The panel then discussed how integrating Retail Media with comprehensive media plans is becoming standard practice intending to create a seamless consumer experience across all platforms. Retail Media is no longer an isolated effort but not a key part of overall marketing strategies.
  • Panelists then shared how high-impact awareness campaigns, particularly for new product launches, are increasingly using Retail Media networks to target potential consumers effectively. 
  • The critical role of sophisticated data handling was a recurring theme in the discussion. With tools like clean rooms, brands can delve deeper into customer behavior, tailoring their marketing efforts to achieve enhanced results through targeted insights.
  • Finally, the panel discussed how Retail media's growth is promoting collaboration across technology, advertising, and retail sectors, enriching the field with diverse expertise. This helps to bring fresh perspectives and accelerates innovation in retail media strategies.

Watch here

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