Retail media is evolving rapidly, but one of its most pressing challenges remains measurement — proving the effectiveness of in-store and digital activations to both retailers and advertisers. During the What’s In Store for Retail Media Networks event, an expert panel explored how brands can leverage data, optimize in-store experiences, and drive real ROI. The discussion, hosted by Manolo Almagro, Senior Director of Customer Experience and Innovation at Publicis Sapient, featured industry leaders Kelly Torgeson, Director of Media & Customer Marketing at Walgreens Advertising Group, Nik Rochnik, Senior Director of Retail Media at Albertsons Media Collective, and Ben Reynolds, VP of Business Development at Walkbase. Here are the key takeaways from the discussion.

The Customer Experience Comes First

Retail media is more than just a vehicle for advertising — it’s a tool for enhancing the in-store shopping experience. Kelly highlighted the Walgreens brand’s responsibility to educate customers at key decision points. Whether it’s providing information on product benefits, loyalty incentives, or limited-time offers, in-store media plays a crucial role in fostering confidence and convenience for shoppers.

Nik pointed out that contextual relevancy is key. Just as digital ads are placed near relevant content online, in-store ads should be positioned strategically — close to the products they promote. The challenge, however, is ensuring that media doesn’t overwhelm shoppers. Testing, data-driven optimizations, and customer feedback are critical to maintaining a seamless experience.

Retail Media’s Impact on Sales and Basket Size

Beyond enhancing the shopping experience, retail media has a direct influence on basket size and overall sales. By integrating digital screens, shelf talkers and loyalty program promotions, retailers can encourage trade-ups, introduce new products and increase purchase urgency. Walgreens, for example, has seen success in using media to highlight innovation and drive category growth.

Ben from Walkbase noted that well-placed, high-impact visual content — such as endcap displays and digital signage — can significantly boost sales at the point of purchase. When combined with data on customer behavior, retailers can create a more curated and compelling shopping journey.

The Power of First-Party Data in Measurement

One of the biggest advantages retail media has over traditional digital advertising is access to first-party data. Retailers like Walgreens leverage loyalty programs with millions of members to track shopping habits, predict needs, and personalize media placements.

Kelly shared how Walgreens’ loyalty insights allow them to connect digital engagement with in-store purchases — helping brands understand which activations drive real conversions. This data-driven approach enables brands to refine messaging, optimize placements, and create more effective omnichannel campaigns.

Bridging the Gap Between In-Store and Digital Measurement

Measuring retail media’s effectiveness requires integrating in-store and digital data. Traditionally, digital advertising benefits from detailed impression tracking, but in-store media presents a different challenge — how do you know if a shopper saw an ad and made a purchase?

Nik explained that while browsers and apps provide built-in data tracking, in-store environments require innovative solutions. Technologies like AI-driven analytics and path-to-purchase tracking help infer ad exposure and measure its impact on sales.

Ben emphasized the need for industry-wide standardization in retail media measurement. As retailers ask brands to invest more, they must provide transparent and consistent metrics to justify those investments. He pointed to the work being done by the IAB as a step toward more reliable measurement standards.

AI and Machine Learning: The Next Frontier in Retail Media

The panel also discussed how AI and machine learning will transform retail media measurement. Nik predicted that once in-store attribution signals reach scale, machine learning models will drive campaign optimization — automatically identifying the best times, placements, and audience segments for in-store ads.

For example, AI can detect patterns such as certain products selling better in the morning versus the evening, and can adjust ad targeting dynamically. This data-driven automation will make in-store media as precise and efficient as its online counterpart, unlocking new opportunities for retailers and advertisers alike.

Final Thoughts

Retail media’s potential is immense, but its success hinges on effective measurement. By prioritizing customer experience, leveraging first-party data, integrating digital and in-store insights, and embracing AI-driven optimization, retailers can unlock the full power of their media networks.

As the industry moves toward more transparent and standardized measurement, retail media will continue to grow as a powerful driver of both brand awareness and sales. The industry panel made it clear: the future of retail media measurement is about precision, integration, and delivering tangible value to both shoppers and advertisers.

 

The final panel discussion at the What’s In Store for Retail Media Networks presented by STRATACACHE put a spotlight on the biggest trends, challenges and opportunities shaping the future. Jonathan Rosen, Global EVP of Strategy, Retail Media Networks, PRN, and Andy Murray, Executive Chairman at Saatchi & Saatchi X, held an engaging conversation that synthesized the most impactful themes from the event.

Retail Media Networks: A Sure Bet for the Future

Mark Boidman of Solomon Partners’ presentation was the first cited in the discussion. He asserted: retail media networks are the “surest bet” for future investment. This optimism signals that retail media isn’t just a passing trend — it’s becoming a critical pillar of modern commerce. The panelists reinforced this idea by discussing how international markets, particularly in Europe, are already advancing in-store connectivity and leveraging retail media in innovative ways.

Retailtainment: The Store as the Strongest Channel

One major theme throughout the discussion was the evolving role of physical stores in the retail media mix. Retailtainment — blending entertainment and retail — was highlighted as a key strategy, especially as in-store experiences become more immersive and interactive. Walmart Mexico’s approach was cited as a strong example of how stores can serve as both the primary engagement channel and a powerful media asset.

Mindset and Leadership: The Key to Retail Media Success

The conversation frequently returned to the importance of leadership and mindset in driving retail media forward. Albertsons emphasized a “curiosity mindset” as essential to success, while Costco and CVS highlighted the need to lower merchant costs and reinvest those savings into media. Leaders at Macy’s and other major retailers underscored the need to upskill teams, bridge departmental gaps, and foster stronger collaboration between merchants, marketing teams and media partners.

Collapsing the Distance Between Inspiration and Purchase

One of the most exciting takeaways from the discussion was how brands and retailers are working to reduce friction in the shopping journey. The goal? To collapse the distance between inspiration and purchase, ensuring that consumers can seamlessly transition from awareness to conversion. The panelists highlighted the growing integration of commerce and advertising, making it easier for consumers to take immediate action when exposed to a retail media message.

Navigating the Complexity of Retail Media Measurement

As retail media networks grow, so do the challenges associated with measurement. The panel discussed the ongoing debate between market mix modeling and multi-touch attribution, with George from MRC weighing in on the complexities of evaluating effectiveness. Frequency capping also emerged as a key challenge — how can brands ensure they’re reaching the right consumers without oversaturating them with redundant messaging?

The Future of Retail Media: A More Unified Approach

Looking ahead, the panelists pointed to international markets, particularly Europe, as a source of inspiration for the future of retail media. Retailers like Carrefour are already integrating measurement and media in ways that North American retailers can learn from. The discussion also touched on hyperlocal targeting, in-store dayparting and the potential for retail media to become even more dynamic and responsive to real-time shopping behaviors.

A Call for Collaboration and Senior-Level Engagement

The panel concluded with a call to action for deeper industry collaboration and greater engagement from senior leadership. As retail media networks mature, it’s crucial that CMOs, CFOs and other top executives become more involved in shaping their strategies. The non-pay-to-play format of the event was praised for fostering open discussions and knowledge-sharing, setting the stage for continued innovation in the space.

Final Thoughts

The panel made it clear: retail media networks are not just an emerging trend — they are rapidly becoming a fundamental component of modern retail strategy. From refining measurement techniques to fostering collaboration between merchandising and media teams, the industry is navigating a complex but highly promising evolution. As retail media continues to mature, the brands and retailers that prioritize agility, collaboration and consumer-centric thinking will be best positioned for success.

What’s Next?

As retail media networks (RMNs) continue to prove their value, the conversation is shifting from online to in-store, unlocking new opportunities for advertisers and retailers alike. At the recent What’s In Store for Retail Media Networks event during the NRF 2025 and presented by STRATACACHE, industry leaders from Macy’s Media Network and CVS Media Exchange shared their insights on how retailers are navigating the in-store media landscape while maintaining a seamless omnichannel experience.

The In-Store Retail Media Opportunity

The panelists — Michael Krans, Vice President of Macy’s Media Network (MMN), and Brendan Rodgers, Lead Director of Commercialization at CVS Media Exchange (CMX) — painted a detailed picture of an evolving in-store media landscape. While digital retail media has seen explosive growth, physical stores remain a critical touchpoint for customers. Both Macy’s and CVS recognize the potential of in-store media but are approaching its implementation with careful consideration to enhance the customer experience rather than disrupt it.

Macy’s Approach: Thoughtful Expansion: Macy’s has embraced a measured approach, integrating in-store media through digital screens in 98 stores and offering Wi-Fi confirmation page ads. With a long-term strategy, Macy’s is prioritizing customer engagement while ensuring media integrations align with their broader marketing initiatives. As Michael Krans explained, “Any ad experience we introduce must excite customers, compel them to share, and help them find what they’re looking for.”

CVS’s Strategy: Customer-Centric Innovation: CVS, with its 9,000-store footprint, is also leveraging in-store media to complement its digital strategy. CMX is strategically placing digital screens in high-dwell areas such as pharmacy sections and checkout lanes, ensuring relevance without overwhelming shoppers. Brendan Rodgers emphasized the importance of maintaining trust, noting that “just because you can put an ad somewhere doesn’t mean you should.”

Seamless Omnichannel Integration

Both retailers highlighted the need for omnichannel cohesion — ensuring in-store retail media is an extension of digital efforts rather than an isolated initiative.

At Macy’s, the focus is on creating marketing consistency across touchpoints. This includes aligning in-store advertising with seasonal campaigns and digital activations. Michael Krans noted that Macy’s aims to “integrate brand partners into major moments like the Thanksgiving parade and holiday shopping seasons.”

For CVS, the key lies in leveraging customer data. With its ExtraCare program driving 67% of sales, CMX ensures in-store messaging aligns with customers’ online behaviors. Brendan Rodgers highlighted that “15 million customers take action online before visiting a store, and nearly half make a purchase in-store within 48 hours of searching online.”

Building Cross-Functional Collaboration

A recurring theme throughout the discussion was the necessity of internal collaboration. Successfully implementing in-store media requires alignment across marketing, merchandising, finance and store operations teams.

Michael explained how Macy’s RMN is taking the lead in fostering these connections: “Retail media teams must bridge the gap between digital and in-store experiences, ensuring that new initiatives serve both customer needs and business objectives.”

Brendan echoed this sentiment, advocating for regular internal roadshows and workshops to bring teams together. “Getting people in a room to align on strategy makes all the difference,” he noted.

Key Takeaways for Retailers Exploring In-Store Media

For retailers considering in-store media investments, the panelists offered valuable advice:

• Start with Data: Understand customer behaviors to ensure media placements enhance the shopping experience.
• Prioritize Customer Experience: Avoid turning stores into overwhelming ad spaces — focus on relevance and value.
• Align with Broader Marketing Initiatives: Ensure in-store activations complement digital campaigns and seasonal promotions.
• Foster Internal Collaboration: Success hinges on cross-functional teamwork, so engage all stakeholders early in the process.

Final Thoughts

The future of retail media is undeniably omnichannel, and in-store retail media represents the next frontier. However, as the panelists emphasized, thoughtful execution is key. By prioritizing customer experience, leveraging data-driven insights and fostering internal collaboration, retailers can unlock new revenue streams while strengthening customer relationships.

As in-store retail media evolves, the question is no longer if retailers should invest in it, but how they can implement it in a way that enhances — not disrupts — the shopping journey.

What’s Next?