IAB Releases In-Store Retail Media Definitions, Guidelines
The Interactive Advertising Bureau (IAB) and IAB Europe have released the first industry definitions and measurement standards for in-store retail media.
The standards, which are open for public comment until Nov. 1, were developed to address rapidly expanding in-store retail media opportunities and create unified definitions, measurement standards and guidelines for ad formats and store zones. They are designed to prop up the growing channel and "help capture budgets traditionally allocated to linear TV and out-of-home (OOH)," according to a statement from the company.
The standards include:
- Definitions: Clear terminology for in-store digital retail media components.
- Formats: Recommended formats for in-store advertising placements.
- Store Zones: Standardized classification of key areas within stores where media can be deployed (e.g., entry, checkout, aisle).
- Measurement: Guidelines for tracking, reporting and analyzing campaign performance across various in-store formats.
Some definitions include:
In-store retail media refers to "the advertising inventory that uses retail data for planning, execution and measurement in a store which is available to brands." It can be digital (video, display or audio), static (print, physical activations) inventory or experiential (demos/sampling, DIY workshops), among others.
Ad unit (unit) is "a piece of creative content designed to deliver a message (i.e., an ad) intended for an advertiser’s existing or prospective shopper base." They're meant to conform to the media in which they will be delivered.
Audio exposure zone is an area where audio can be heard though "there is no assurance as to whether the audio is audible."
The standards are the result of a collaborative initiative between IAB and its European counterpart that builds on the IAB/MRC Retail Media Measurement Guidelines and IAB Europe’s Retail Media Measurement Standards, released in January and April, respectively. The goal was "to ensure a comprehensive representation from those driving the future of retail media," per the statement.
The effort included an in-person workshop hosted by IAB Europe in July that brought together 14 retail media networks (RMNs), including Ahold Delhaize, Douglas Marketing Solutions, Dunnhumby (representing Tesco), MediaMarkt, Schwarz Media and Shopper Media Group (or SMG; representing Asda, Boots, Co-op and Morrisons). The process also involved virtual workshops and consultations with buy- and sell-side stakeholders.
"The rapid growth of in-store digital retail media demands a unified approach to measurement and standardization across markets," said Townsend Feehan, CEO, IAB Europe. "These standards are critical in our collective effort to make retail media a more accessible and integrated part of digital advertising strategies across Europe and beyond.”
“Retail media networks have already had a meaningful impact on the digital advertising industry in a short period of time,” added David Cohen, CEO, IAB. “Working in conjunction with IAB Europe, we are fostering a collaborative ecosystem to ensure that in-store retail media is properly understood and utilized.”
The company added, "these standards represent a crucial step toward technological investment and the standardization needed to drive further adoption and cross-channel integration of retail media."
IAB Europe and IAB have also planned further guidance and education sessions to support implementation. IAB also says it aims to standardize product categories in the next version of the standards.
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IAB and P2PI conducted a qualitative study, released in July, interviewing various brands and retailers to learn how they're leveraging in-store technologies, measuring success, addressing challenges and looking at future innovations.