The narrative around retail media is a positive one. It suggests the market is buoyant, with retailers scrambling to set up media networks and brands eager to spend ad dollars. However, major structural and relationship challenges need to be overcome before retail media can be considered a mature channel.
A major obstacle for both brands and retailers is that retail media involves different teams and stakeholders that normally have no connection to advertising. It's basically asking entire departments who don't speak the same language or share the same data to unite.
For consumer tech company Lenovo, the expansion into retail media has brought marketers, product management teams, trade and sales together. Lenovo's head of retail media, Mark Nilski spoke recently at an event hosted by Epsilon at The Drum Labs.
Nilski explains that agencies are often set return on ad spend (ROAS) targets but those are less helpful in Lenovo's retai.
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