Are You Set Up to Win the Retail Media Game?
In this episode, we’re joined by Jason Wescott, Global Head of Commerce Solutions at GroupM Nexus and Chair of the IAB Europe Retail Media Committee. With over 20 years of experience in media, e-commerce, and retail media, Jason has helped craft the industry's playbook—practically putting the final stamp of approval on its evolution.
We dive into the fast-changing world of commerce media, where retail and advertising are becoming one and the same. Jason shares insights from the UK and European markets, breaking down the rise of retail media networks, the power of offsite media, and why an integrated onsite-offsite approach is a game-changer.
But it’s not all smooth sailing. We tackle the tug-of-war between agencies and RMNs, the growing demand for data transparency, and the need for industry-wide measurement standards. This episode is one you can’t afford to skip.
What you'll learn from this episode:
- Retail Media’s Rise to Power: Once a niche, now a powerhouse. Retail media is fast becoming a core pillar of the marketing mix, commanding 30% of the overall marketing strategy
- The Offsite Media Boom: Why offsite retail media is set to hit 30% of total retail media spend in the next three years—and how brands can tap into its full potential
- Bridging the Gaps: How retail and commerce media bring siloed departments together to drive marketing momentum and maximise closed-loop sales.
- The Holy Grail of Marketing: How commerce and retail media are redefining closed-loop measurement, providing the ultimate link between ad spend and sales
- The Standardisation Struggle: The battle for transparency, accountability, and measurement frameworks, and how the IAB is stepping in to lead the charge.
Soundbites to listen out for:
Retail Media’s $176.9 Billion Powerhouse
Retail media forecast for this year is predicted to be $176.9 billion dollars. And that's going to make it $15.9% of Group M's forecast on overall media spend globally. So it's not it's not a sideshow anymore.
Retail Media Taking a Bigger Slice of the Pie
The share of retail media within the digital marketing mix can go up to 35 to 36%. It's a big slice of the pie. It can't afford to remain siloed from the rest of the marketing mix
Beyond the Bottom Funnel
It's not just that preconceived lower funnel and driving a sale type of media. It's not just a dessert anymore. It's like the full course meal.
Rethinking ROAS
Return on Ad spend is an important metric, but I don't feel as if it should be actually used as an objective. It should be used as a scale.
Priming the Next Purchase
The real value is driving the ROAS of the next campaign who've already been exposed to the (first campaign) because they're primed to buy.
The Holy Grail of Marketing
I call closed loop measurement the holy grail of marketing with commerce and retail media. That's why the finance guys love it, because they can show return on investment.
The Industry Tug-of-War
If we look at agencies, advertisers, and media owners in general, there's always a soft tug of war going on.
About our guest:
Jason, a luminary in Global Commerce at GroupM, possesses a dynamic 15-year journey, spanning b2b sales, E-Commerce, and Retail Media. As the former European E-Commerce lead for Hasbro, he seamlessly transitioned his expertise to pivotal senior Commerce roles at Publicis Groupe and now WPP’s GroupM. Jason’s fervour lies in crafting successful growth strategies that seamlessly integrate people, data, and AdTech.
His client engagements have included Colgate-Palmolive, Amazon, Samsung, P&G, HP, Disney, and Vodafone. Elected Chair of IAB Europe’s Retail Media Committee in January 2024, Jason champions this multi-stakeholder group’s industry-defining work in standardisation across this nascent category of digital advertising.
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