Podcast Summary: Behind the Numbers: an EMARKETER Podcast

Episode: Redefining Commerce Media Through the Eyes of Shoppers | Special Edition
Air Date: December 13, 2025
Host: Sarah Marzano, Principal Analyst, EMARKETER
Guest: Sean McGahey, Senior Director of Performance and Insights, Roundel (Target)

Episode Overview

This special edition of "Behind the Numbers" offers an inside look at how Roundel, Target’s retail media network, is navigating—and redefining—the rapidly evolving commerce media landscape. Host Sarah Marzano speaks with Sean McGahey, who recently joined Roundel after leading retail media at Google. Their conversation centers on Roundel’s guest-centric approach, audience value, measurement and incrementality, the growing importance of offsite media, the role of AI in reducing friction for shoppers and advertisers, and future-facing strategies for 2026.

Key Discussion Points & Insights

1. Roundel’s Differentiators: Guest-Centric at the Core

[01:00–03:01]

• Curated Guest Experience:
  • Roundel is committed to avoiding disruptive ads, focusing on integrating curated, additive messaging into the Target shopper journey.
    • “Roundel doesn’t spam its guests. We really focus on curated messaging that’s integrated within the guest experience… it feels additive as opposed to disruptive.” (Sean, 01:13)
• Robust Insights Team:
  • Distinguished by a sizable insights organization, Roundel complements self-service tools with deep expertise in both media and the Target enterprise.
• Full-Funnel, Full-Journey Focus:
  • Unlike many networks that prioritize onsite inventory, Roundel invests heavily in offsite media to meet guests wherever they are, reflecting the real-world, omnichannel journey.

2. Understanding and Leveraging Target’s Brand Believers

[03:31–04:46]

• Loyalty as Audience Value:
  • Target guests self-identify as “my Target” shoppers, showing elevated brand loyalty.
  • The Target Circle loyalty program now boasts over 100 million members, with members shopping three times more than non-members.
    • “Target Circle members are shopping three times more than a non-Target Circle guest.” (Sean, 04:08)
  • For advertisers: access to a vast, engaged, addressable audience, spanning categories and platforms.

3. Modern Measurement: Holistic, Incremental, and Actionable

[05:11–08:39]

• Measurement Anchored in the Guest Experience:
  • Roundel emphasizes measurement that tells the true story of guest behaviors, avoiding metric overload in favor of actionable insights.
• Closed-Loop Measurement Across Social:
  • Partnerships with TikTok, YouTube, Pinterest, and Meta now enable full closed-loop measurement—tracing the journey from exposure to sale, even on offsite channels.
    • “…we have closed loop measurement for each of those platforms… helping us understand the guest experience and how that guest experience is driving sales.” (Sean, 06:11)
• Multi-layered Incrementality Solutions:
  • Synthetic Control: For rapid, post-campaign incrementality insights.
  • Randomized Controls by Channel: Specific to platforms like Meta or Pinterest, for detailed channel performance.
  • Matched Market Tests: Deep-dive, geographically based, robust incrementality studies.
    • “Incrementality is our North Star.” (Sean, 17:38)
• New Guest Metrics:
  • Expanded tracking for new-to-brand ROAS and per-channel influence, supporting brand growth and category share insights.

4. AI as a Dual-Force for Guests and Brands

[09:33–11:51]

• Enhancing Guest Experience:
  • Partnership with OpenAI: Target’s shopping experience is now accessible in ChatGPT, allowing for new conversational, shoppable discovery.
    • “We recently announced a partnership with OpenAI where we’re bringing the experience of Target... into ChatGPT.” (Sean, 09:48)
  • Target’s Gift Finder AI: Converts images of wish lists into actionable shopping lists within the app, reducing friction for busy families.
• Advertiser-facing Innovations:
  • AI-powered audience segmentation is driving up to 70% gains in ROAS by uncovering high-value, otherwise hidden shopper segments.
  • AI optimization on onsite inventory has reduced inventory bottlenecks by 62%.

5. Offsite Retail Media: Precision and Scale

[12:40–14:15]

• Outpacing Industry Averages:
  • 30% of Roundel campaign activations are offsite, versus a 21% industry average.
    • “We already over-index in leveraging off-site, finding those guests outside the halls of Target…” (Sean, 13:03)
• Precision Plus by Roundel:
  • AI-driven optimization across Pinterest, Google, and Meta, leveraging Target’s first-party data.
  • Results: 404% lift in click-through rates and 63% improvement in ROAS compared to regular activations.
    • “This type of activation is driving stronger engagement... 404% lift in CTR, improving ROAS 63%.” (Sean, 13:54)

6. The Omnichannel Reality: Connecting Every Moment

[14:40–16:52]

• Omnichannel Shoppers and Seamless Journeys:
  • Offsite placements fuel onsite engagement: Q3 saw a 21% increase in Target.com clicks from off-platform ads.
  • Shoppers effortlessly blend digital and store experiences; 76% of in-store shoppers use the Target app or website while shopping.
  • Innovations like ‘in-store mode’ and digital screens bring dynamic brand messaging into the aisle, while unique behaviors (like Drive Up) allow for targeted, multi-phase messaging.
    • “At Target… it’s a very seamless transition between digital, in-store, and offline experience.” (Sean, 15:12)

Notable Quotes & Memorable Moments

• On Brand Loyalty:
  “Target guests... are really brand believers. They refer to their Target as ‘my Target.’ They have the brands that they go to and love within that experience.” (Sean, 03:36)

• On Measurement Focus:
  “While ROAS is a helpful metric, you need more than ROAS to understand the impact on our bottom line. Incrementality is our North Star.” (Sean, 17:35)

• On AI for Shoppers:
  “We want to bring the Target experience into that [ChatGPT] platform… We’ve created Target’s gift finder AI, where you can take a picture of your Christmas list and Target will translate that picture into a shopping list.” (Sean, 10:12)

• On Seamless Experience:
  “We recognize that the in-store moment is not exclusive from the digital moment… those two things work together.” (Sean, 15:29)

Timestamps for Key Segments

• Roundel’s Differentiators – 01:00–03:01
• Audience and Loyalty – 03:31–04:46
• Measurement & Incrementality – 05:11–08:39
• AI Innovations – 09:33–11:51
• Offsite Strategy – 12:40–14:15
• Omnichannel Experience – 14:40–16:52
• Key Takeaways & Vision for 2026 – 17:34–19:37

Takeaways & Vision for 2026

[17:34–19:37]

1. Beyond ROAS: Incrementality is the key success metric—emphasizing proven, incremental business impact over surface-level returns.
2. The Omnichannel Guest at the Center: Every decision is rooted in enhancing the guest experience, connecting digital, in-store, and offsite touchpoints.
3. Partnerships Drive Growth: A “networked, partner-oriented approach” is vital; collaborating deeply with platforms, tech partners, and advertisers is how Roundel will deliver next-generation commerce media.
   • “We know our guests are experiencing the world in an integrated fashion. We want to bring that to bear... so [advertisers] feel that we’re in partnership towards their growth.” (Sean, 19:12)

For listeners, this episode serves as both a roadmap and a case study in how one of the U.S.’s top retail media networks is crafting commerce media that is effective, measurable, and—above all—aligned with the experiences shoppers truly want.