P2PI Group Creates Retail Media Industry Definitions

Defining what is and isn’t a retailer media network is a lot harder than one might think.“There is a lot of confusion across the industry and CPG functional groups for what is included in a retailer-owned media network,” says Tammy Brumfield, senior vice president, business development, at Foresight ROI. “No one has a clear understanding for what it is or is not since many retailers partner with other third-party vendors and aggregators, making it very confusing to determine where you receive credit for participation and where you can expect to leverage (for merchandising, joint business planning, etc.).”Brumfield was part of a team tasked with defining retailer media networks and relevant terms as part of the Path to Purchase Institute’s Commerce Executive Network (CEN), which brings together executives from retailers, brands, agencies and solution providers to solve real-world complex problems, establish best practices and develop standards to implement bold initiatives and inspire change.After multiple meetings and alignment discussions — and with the acknowledgement that the work continues to be "in progress" as understanding evolves and new capabilities show up in the marketplace — the CEN’s Retail Media group arrived at the following industry definitions:Omnichannel Media: Any advertising or promotional content — digital or physical — designed to drive awareness and/or conversion at one or more specific retailers.Media can run on and/or off the retailer media networkIncludes any shoppable media in and/or out of store that the retailer is selling through their platform Retailer Media Network: A network (distribution) of media products owned or operated by a retailer or banner that can only be purchased through the retailer or their agent/agency.Monetized by a retailer by using retailer’s first-party data or physical property/location Managed and marketed by a retailer or retailer agent/agency for the exclusive benefit of the retailer and brand partnerMay be powered by another industry participant (Criteo, Quotient, etc.)Placement can be on or off retailer.com site, in app, in or out of store (extensions)Can be retailer branded or non-brandedMeasurement is based on retailer’s data/sales, providing closed loop attribution capabilityMedia Inventory Aggregators: A single point of contact that buys inventory from multiple retailer platforms for the purposes of reselling. Brands or their agents buy media from these entities, which provide a single point of contact for planning, activation, and resultsFrom a retailer’s perspective, this allows them to offer search and other capabilities without building those capabilities internallyIn certain circumstances, retailers may give “credit” for spend in this categoryThird-Party Media Sellers: Media provider who is not part of the retailer’s media network and does not have access to the retailer’s first-party data. Media provider buys/collects data from external source(s) and aggregates data from various platforms/websitesMedia provider either collects or pays for this data from owned or other sources to develop and activate media plans for their clientsTo learn more, download the document on the right for a list of benefits and challenges to working with retailer media networks, media inventory aggregators and third-party media sellers for brands, shoppers and retailers.

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