Podcast
Retail Media Breakfast Club
Hosted by Kiri Masters · EN
10 minutes of expert insights every weekday. Your morning ritual for staying ahead in retail media.
85episodes
Episodes
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AI Discovery Is Reshaping Retail: Shoptalk 2026 Insights
Mar 3000:08:48Summary readyAt Shoptalk last week, I noticed something that really stuck with me; and it wasn’t happening on the main stage. The sessions that had an overflow of attendees sitting on the floor weren’t the big, flashy keynotes… they were the practical, roll-up-your-sleeves workshops. That tells you everything you need to know about where retail leaders are at right now. Today I’m breaking down what I heard in the “corridor track”. The real conversations happening between sessions. Why AI-powered discovery is becoming the new battleground, how brands are rethinking where their next dollar goes, and why change management — not technology — is the biggest thing slowing teams down. If you’re trying to figure out what actually matters heading into the next phase of retail media, this one’s for you.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why the most in-demand sessions at Shoptalk weren’t on the main stage[01:18] – Discovery becomes the new battleground in an AI-compressed digital shelf [02:45] – The rise of multi-layered product detail pages built for humans, SEO, and AI [04:00] – Why the “next best dollar” is now a full business decision, not just marketing [05:00] – Rethinking measurement: patience, strategy, and long-term growth [06:16] – The real bottleneck: how internal processes are slowing AI adoption [08:00] – The overlooked surge of social commerce and embedded shopping experiencesLinks & ResourcesWatch Rick Watson's live recording of the ShopTalk floor: Shoptalk 2026: What Nobody Said Out Loud About Agentic CommerceRead my related articles:The Corridor Track At ShoptalkRetail Media's Next Challenge: Proving Real ResultsAre AI Ads the Next Big Ad Surface? How Retail Media Can ThriveAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn
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Shoptalk 2026: AI, Agentic Commerce & Retail Media’s Next Power Shift
Mar 2600:10:30Tap to summarizeI’m coming to you live from Shoptalk 2026 in Las Vegas, and this ep is packed with rapid-fire insights straight from the show floor. I pulled together six of the smartest voices in retail media to break down what’s actually happening right now beyond the buzzwords. From agentic commerce debates to Meta’s push into in-store data, we’re unpacking the trends that could reshape how brands and retailers work together.We dig into the following: Is AI really going to change how we shop? Why are retailers expanding into offsite media in a more controlled way? And what role does content, especially video, play in the next phase of commerce? If you want a pulse check on where retail media is heading in 2026, this is one you don't want to miss.This episode is sponsored by Mirakl AdsTimeline[00:00] – Live from Shoptalk: rapid-fire industry insights straight from the show floor[01:00] – The agentic commerce debate: will consumers really hand shopping over to AI? [02:30] – Meta’s new in-store data play and the shift toward full-funnel performance metrics [04:45] – Retailers moving offsite: why controlled expansion is the new strategy [06:45] – Innovation overload: how commerce media is evolving across industries [07:15] – Why content, not hype, is the key to making agentic commerce actually work [08:45] – Retail media’s identity shift: from monetization channel to growth driverLinks & ResourcesFollow Kathryn Lundstrom, Commerce and Sustainability Editor @ ADWEEK, on LinkedInFollow Alex R. Arnott, Sr. Director of Retail Media Monetization @ dentsu, on LinkedInFollow Tom Limongello, Host @ The Middlemen Podcast, on LinkedInFollow Saket Mehta, Chief Revenue Officer @ Nift, on LinkedInFollow Leah Logan, Growth Marketing @ Inmar Intellingence, on LinkedInFollow Derek T. Nelson, Sr. Director, Measurement & Retail Media Consulting @ Ovative Group, on LinkedInRead my related articles:Five Ad Servers, Four Takeaways, and One Thread That Tied RampUp Together"We're All Holding Our Breath"‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really IsAtlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn
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What I Learned Building Retail Media Breakfast Club in One Year (50,000 Downloads Later)
Dec 16Tap to summarizeThis is the final episode of the year, and honestly, I can’t quite believe how far Retail Media Breakfast Club has come since launching back in January. From passing 50,000 downloads, to realizing just how many smart, thoughtful people are paying attention, this episode is a moment to pause, reflect, and share what I’ve learned along the way.I unpack some very personal lessons from running a near-daily newsletter/podcast in an industry that’s still very much being invented in real time. From embracing beginner’s mindsets and navigating burnout, to understanding why drama drives engagement (and when it’s not worth it), this is a behind-the-scenes look at what it actually takes to show up consistently.This episode is sponsored by Mirakl AdsTimeline[00:00] – Reflecting on launching Retail Media Breakfast Club and hitting 50,000 downloads[01:00] – What Vampire Weekend taught me about building a career in retail media[02:25] – Why we’re all beginners in retail media (even the so-called experts)[04:15] – My biggest blind spot: ad tech, and how I had to relearn the fundamentals[06:45] – The reality of publishing content four days a week and managing burnout[09:00] – Why “quantity is quality” and how consistency creates real momentum[11:45] – Drama, debate, and drawing personal boundaries in public industry discourseLinks & ResourcesMy tech stack flow diagram - How an RMN's tech stack impacts your advertising resultsBreakfast for Dinner with Retail Media Breakfast Club & Mirakl Ads in NYC. I am co-hosting a dinner for RMN leaders with the sponsor of this newsletter & Podcast, Mirakl Ads. Join me, Mirakl’s Chief AI officer Anne Baschet, and RMN leaders from Costco & CVS for Breakfast for Dinner on Saturday Jan 10, 2026. Senior leaders at RMNs may register their interest here.Retail Media Therapy Celebrity Death Match in NYC. I’m doing another debate, this time going to head-to-head with my frenemies-slash-industry legends Colin Lewis, Sarah Marzano (EMARKETER), and Claire Wyatt (The Trade Desk). Hosted by Zitcha, QSIC and Grace & Co. Monday Jan 12 - arrive at 5 for a 5:30 kickoff. Register your interestSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri on LinkedIn
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Trade vs. Retail Media: Who's Really Eating Whom? ['Snips' from Particular Audience & The Middlemen]
Oct 8Tap to summarizeIn this 'Snips' episode, I dive into one of the biggest debates shaking up the commerce world: is retail media eating trade marketing, or is it the other way around? To unpack this, I analyse commentary from two industry leaders who see the collision from very different vantage points. James Taylor of Particular Audience makes a strong case that trade dollars are shifting into transparent, measurable retail media channels. Meanwhile, Troy Townsend of Zitcha argues the opposite: trade marketing isn’t being devoured, it’s simply evolving, and in fact, might end up absorbing retail media under its existing merchant structures. I have included links to the full episodes featuring James on the Particular Audience YouTube channel, and Troy on The Middlemen podcast under 'Links & Resources' below.Through their perspectives, I explore what this convergence really means for retailers, brands, and the people managing those ever-blurring budgets. Whatever team you're currently on, I believe this interplay reveals how the smartest players are building unified systems that bridge the two worlds.This episode is sponsored by Connected Commerce at Acosta GroupTimeline[00:00] – Setting the stage: the tug-of-war between trade and retail media.[01:00] – James Taylor explains how supplier dollars are migrating into retail media, backed by Forrester data.[02:30] – Why transparency, attribution, and incrementality are pulling budgets away from traditional trade deals.[04:02] – Transition to Troy Townsend’s take: trade marketing isn’t dying, it’s modernizing.[05:15] – The 'shelf wobbler' story: why unifying physical and digital inventory matters more than ever.[07:45] – The internal friction between merchandising and retail media teams, and why organizational design is key.[08:30] – Troy’s prediction: long-term, merchant teams will own retail media.[09:00] – My closing thoughts: convergence, not competition, is where the future lies.Links & ResourcesWatch the full James Taylor presentation on the Particular Audience YouTube channel, How to Launch a Retail Media Network - MasterclassListen to full Troy Townsend episode on The Middlemen podcast, Trade is Eating Retail Media - Troy Townsend, CEO of ZitchaFollow James Taylor, CEO of Particular Audience on LinkedInFollow Troy Townsend, CEO of Zitcha on LinkedInRead my article Why 'Omnichannel' Misses the PointSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri on LinkedIn
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ROAS Isn’t Enough — The Buyer’s Checklist for Retail Media
Sep 17Tap to summarizeToo often, retail media performance gets boiled down to a single number: ROAS. But is that really enough to guide smart investment decisions? In this episode, I share another highlight from the Retail Media Tech Jam livestream with Tom Limongello and Scott Messer from The Middlemen podcast. Together, we unpack why relying solely on ROAS can be misleading, and what metrics and insights media buyers should be demanding instead.You’ll hear us explore the buyer’s checklist for retail media success, from securing log files to evaluating PDP quality scores, and why brands themselves now need to think more like publishers. We also dig into marketplace dynamics, the evolving role of creative optimization, and whether retail media could ever move toward performance-based pricing models.This episode is sponsored by Connected Commerce at Acosta GroupTimeline[00:00] - Setting the stage: why ROAS isn’t enough[01:19] - Asking the right questions: site lists, log files, and media plans[02:37] - Understanding retail media as a marketplace[03:15] - PDP quality scores and their growing influence[05:20] - Comparing networks through efficiency, not just ROAS[06:18] - Why creative optimization matters more than ever[08:04] - Audience question: will retail media move to CPA models?Links & ResourcesWatch the full Retail Media Tech Jam: The Middlemen X Retail Media Breakfast Club livestream replay on LinkedInListen to The Middlemen podcastFollow Tom Limongello on LinkedInFollow Scott Messer on LinkedInSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri on LinkedIn
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The Retail Media Doom Loop
Sep 16Tap to summarizeRetail media has exploded in recent years, but is it already falling into a dangerous cycle? In this episode, I share highlights from a recent LinkedIn Live I hosted with Tom Limongello and Scott Messer from The Middlemen podcast. We dove into why retailers are so secretive about their tech stacks, what that means for brand-side buyers, and whether this lack of transparency is slowing growth across the entire industry.You’ll hear us explore the “retail media doom loop,” how initial revenue gains mask deeper challenges, and why media buyers are begging for clarity. If you’ve ever wondered what’s really happening behind the curtain of retail media networks (or why it matters for your brand) this conversation will connect the dots in a way that might change how you think about the future of retail media advertising.This episode is sponsored by Connected Commerce at Acosta GroupTimeline[01:18] - Why retailers keep their tech stacks so secretive[02:00] - Breaking down the “retail media doom loop” and stalled growth[03:15] - Where true incremental opportunities still exist[04:28] - Are brands applying enough pressure on retailers to evolve?[06:07] - Survey results: what 67 brand-side media buyers had to say[07:30] - What buyers really want from retail media tech providers [09:15] - Transparency vs. reality: what media buyers say vs. what they doLinks & ResourcesWatch the full Retail Media Tech Jam: The Middlemen X Retail Media Breakfast Club livestream replay on LinkedInListen to The Middlemen podcastFollow Tom Limongello on LinkedInFollow Scott Messer on LinkedInSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri on LinkedIn
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AI Agents Hate Ads Today — But Will That Last?
Sep 2Tap to summarizeLast week I shared some surprising new research: AI shopping agents are actively penalizing sponsored products, reducing the likelihood of them being selected by 8–14%. That sounds like a big red flag for retail media, right? But in today’s episode, I make the case that this 'ad penalty' is temporary, and far from the end of sponsored products.We dig into why today’s AI models have inherited our own human ad skepticism, why that bias won’t last, and how the retail media ecosystem could adapt. From real-time basket bidding between retailers, to collaborative incentives from brands, to new revenue models around product content and reviews, I explore the paths forward that could actually make agentic commerce even more valuable for retailers, brands, and consumers alike.This episode is sponsored by Connected Commerce at Acosta GroupTimeline[00:15] – The surprising stat: AI agents penalize sponsored products by up to 14%[01:00] – Why AI’s distrust of ads has been inherited from humans[02:30] – Why ad avoidance won’t last (agents that miss good deals will frustrate users)[02:58] – Scot Wingo’s vision for real-time retail bidding, and how brands could amplify offers[05:00] – How AI could create a 'clean' monetization model without eroding consumer trust[07:00] – Beyond ads: revenue opportunities in product content optimization and reviews[09:50] – The big takeaway: don’t ditch sponsored products yetLinks & ResourcesNew research from Yale & Columbia, What Happens When AI Does Your Shopping?Retail Media Breakfast Club article, What Is Your AI Agent Buying? [New Research]Retail Media Breakfast Club article, Why Agentic Shopping Poses an Existential Threat to Retail Media (Part 1)Retail Media Breakfast Club article, AI-Native Brands Will Be The New Amazon FBA GoldrushSubscribe to Scot Wingo's Retailgentic on YouTubeSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri on LinkedIn
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What I’ve learned from 102 episodes over 5 months (and my future plans)
Jun 16, 2025Tap to summarizeAfter five months and over a hundred episodes, I take a moment to reflect on what this journey with the Retail Media Breakfast Club has taught me so far—and wow, it’s been a ride. In this episode, I share five key lessons from launching and sustaining this daily(ish) content experiment, and walk through the most popular (and surprising) episodes to date.Whether you’re a long-time listener or just tuning in, this one’s a behind-the-scenes look at the wins, the pivots, and even a few honest flops. Plus, I make a special announcement about what’s coming next.Episode Highlights[0:00] - Launching the podcast and newsletter: why I started and who it’s for[1:32] - Real talk: battling impostor syndrome and leaning into accessibility[2:47] - The top three most downloaded episodes (and why they hit home)[6:31] - Five big takeaways: from LinkedIn hacks to the power of podcast intimacy to video experiemnts[11:00] - Podcast Announcement - what’s ahead[12:14] - A heartfelt thank you—and a call for your ideas The top-downloaded content from Retail Media Breakfast Club so far this year:Is retail media actually kinda "mid"?Retailers Are Learning to Sell—But This Time, It’s Media, Not Products (Part 1/3)How retailers 'Do' Sponsored Product ads: 4 takeaways for brandsSubscribeSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri on LinkedIn
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My Notes From an Interview with Costco's RMN leader, Mark Williamson
May 1, 2025Tap to summarizeI share my notes from a fascinating interview with Mark Williamson, the leader of Costco's Retail Media Network, which aired on the Middlemen podcast. While most retailers rush to monetize every pixel they own, Costco has taken a deliberately slow approach as a "last mover" in retail media.My Three Key Takeaways:Membership First, Media SecondCostco evaluates every retail media decision through the lens of their member promiseThey believe their restraint creates scarcity, making their offerings more valuableTheir simple value proposition: relevant messaging should drive traffic, shops, and salesMerchants Rule the KingdomUnlike competitors who position retail media as standalone businesses, Costco keeps merchants at the centerThey've built a "Growth Team" to connect traditional merchant relationships with agency-driven opportunitiesMedia investments must demonstrate actual sales growth for Costco, not just profits for the retail media networkPerformance Over Profit MarginsCostco recommends what works best for suppliers, not what maximizes their own marginsWhen suppliers have budget to spend, they might recommend endcaps or sampling instead of higher-margin digital optionsThis straightforward approach to value builds advertiser trust that will serve them well as their retail media offerings matureCostco's approach stands in contrast to other retail media networks that have become increasingly complex and opaque. By keeping the member promise sacred and measuring success in sales rather than network margins, Costco has created a retail media network that advertisers are eager to work with. Subscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri on LinkedInLink to the Middlemen podcast on YoutubeCHAPTERS
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Offsite vs onsite retail media
Apr 24, 2025Tap to summarizeIn this insightful episode, Kiri Masters breaks down the growing importance of offsite retail media, which extends retailers' advertising capabilities beyond their own digital properties. She explains how this approach allows brands to leverage retailers' rich first-party customer data to target specific consumer segments across various digital channels while maintaining closed-loop measurement of sales impact. The episode highlights key benefits for brands including better targeting amid the disappearance of third-party cookies, full-funnel marketing capabilities, and the ability to reach incremental audiences who may not regularly visit retailer websites or apps. Despite challenges around data capabilities, complex measurement, and privacy concerns, offsite retail media offers a compelling bridge between retail and digital advertising worlds.PRODUCED BY:https://aipodcast.ingCHAPTERS:(00:00) About Today's Topic(01:35) About the Show(01:56) Introduction to Offsite Retail Media(02:55) The Power of First-Party Data(03:34) Full Funnel Approach in Offsite Retail Media(04:10) Case Study: Water Pick and Walmart Connect(04:48) Reaching Incremental Audiences(06:03) Measuring Brand Building Advertising(06:35) Benefits for Retailers(08:15) Challenges and Considerations(08:54) Conclusion: The Future of Offsite Retail Media(09:12) OutroSOCIAL LINKS:Website: https://www.retailmediabreakfastclub.comLinkedIn: https://www.linkedin.com/in/kiri-masters/YouTube: https://www.youtube.com/@retailmediabreakfastclubApple: https://podcasts.apple.com/us/podcast/retail-media-breakfast-club/id1782187624//Spotify: https://open.spotify.com/show/3s5MuqcrsOmQDKn3uMYJKb
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