By Anna Forbes, RVP Northern Europe at DoubleVerify, a leading software platform for digital media measurement and analytics
Looking back at 2024, retail media evolved from a niche marketing concept into a powerful force that is reshaping the advertising landscape. The rapid expansion of retailer-owned ad networks marked a significant shift in how brands engage with consumers at the point of purchase.
As advertisers prioritise privacy-friendly methods to engage with consumers, retail media networks (RMNs) allow advertisers to tap into retailers’ first-party data and connect with shoppers who are already in a purchase mindset across various digital channels.
With retail media ad spend in the UK increasing by 22.9% between 2023 and 2024 and expected to surpass £1bn in the UK in the next twelve months, advertisers across sectors are uniquely positioned to capitalise on this dynamic marketing channel. However, navigating the contemporary retail media space is no small task.
New RMNs are launching at a rapid pace, leading to an increasingly fragmented ecosystem. Meanwhile, the premium costs associated with RMNs place significant pressure on network operators and brand marketers to deliver strong returns on their media investments. As advertisers work to maximise performance on these networks, transparency remains a significant challenge.
Transparency in retail media is essential for building trust and accountability among brands, retailers and consumers. Transparency should go beyond onsite inventory, such as retailers’ owned and operated platforms, to include other environments that come with offsite inventory, including social media and streaming TV. As retail media evolves, transparency will be the key to measuring its effectiveness and unlocking the channel’s full potential for advertisers.
An evolving landscape
For brands, success in retail media goes beyond selecting the right RMNs; it requires a data-driven, transparent approach to measurement.
In this space, transparency is not just about knowing where an ad has run, it is also about providing detailed, actionable insights on performance across all inventory. The ability to measure the direct impact of campaigns on conversions and sales is one of the most compelling benefits of retail media for marketers. Retail media advertisers should insist on access to standardised reporting on impressions, clicks, conversions and sales, and on whether ads run on a retailer’s website or on a third-party channel.
Strategies for retail media advertisers
Investing in analytics platforms that provide granular insights into performance metrics is essential. Advertisers should partner with networks offering full access to data and insights, or collaborate with third-party measurement providers to ensure comprehensive visibility into ad performance.
When leveraging a RMN, advertisers should prioritise campaigns that directly connect ad spend to measurable business outcomes. This may involve using AI and machine learning tools to optimise campaigns dynamically in response to the near real-time sales data available. The feedback loop available to retail media advertisers means that they should always be flexible and prepared to pivot in line with consumer feedback and the evolution of consumer behaviours.
The lack of standardised methodologies for calculating retail media metrics, along with the proprietary approaches of individual networks, makes cross-channel performance measurement challenging. Clearly communicating expectations to advertisers and advocating for standardised measures is imperative.
Active participation in the evolution of retail media is key to shaping the future of the channel. Collaborating with RMNs, technology vendors, and industry bodies will help establish best practices. Such partnerships enable stakeholders to implement transparency and protection tools across retail media campaigns. Enhanced visibility into campaign performance across platforms has the potential to drive efficiency, ultimately reducing costs.
Looking ahead, transparency in retail media will no longer be optional – it’ll be the foundation for trust, efficiency and long-term success. Advertisers should champion it by demanding consistent metrics, leveraging data-driven tools and partnering with trusted RMNs and measurement providers.
