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As the retail media marketplace continues to grow and mature, the call for industry standards is getting louder.
Until now, retail media networks have largely been using use their own templates and practices for measurement, creative development, campaign programming and management — even terminology. Increasingly, those discrepancies are making it difficult for brand advertisers not only to compare potential opportunities across network partners, but to fully understand the impact their marketing activation is having on each of them.
And this lack of transparency is hindering the ability of retailers and advertisers to realize the full potential of retail media as an ideal medium for reaching shoppers at every step of the path to purchase.
In the latest episode of “Clarity in Commerce,” retail media pioneer Kristi Argyilan outlines the critical need for industry standards; the benefits they can bring to advertisers, retailers, and even shoppers; and the efforts already underway to help the industry overcome the “standardization hurdle” it currently faces.
As Senior Vice President of Retail Media at Albertsons Companies, Argyilan heads up the Albertsons Media Collective, a relatively new entrant to the marketplace that has been instrumental in improving the practice through open dialogue and collaboration with brand partners. Argyilan herself has been a leading advocate for standardization and is working with advertising association IAB to develop a framework that ultimately will be presented to the industry.
Listen to the interview below: