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How to master retail media
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Commerce Media Matters hosts Nick Morgan and Paul Blackburn welcome Kiri Masters onto the podcast to chat about all things retail media – or is it commerce media these days?

That topic is the underlying debate of this episode, as IAB recently consolidated the definition and categorisation of commerce media.

As a retail media pioneer, and fellow podcaster with her Retail Media Breakfast Club show, Kiri offers her expert insight into this new framework and challenges some preconceptions.

These include questioning the relevance of ROAS as a success metric and whether retail media networks have reached a saturation point. As Kiri points out, these topics are not “zero-sum” and require nuance to unpack, rather than absolute statements.

Agentic AI is also discussed, with varying degrees of caution for its potential impact. Kiri recognises it could be as much a friend as it is a foe; Nick sees it in the midst of the hype cycle, while Paul thinks it still has opportunities to bring benefits.
What you’ll learn from this episode:
Data defines commerce media: While opinions may differ over defining commerce media, the unifying factor is that it’s data-driven to achieve outcomes.
Retail media networks’ diminishing returns: Brands tend to see reduced gain in benefits after engaging more than 7 retail media networks.
Measurement beyond ROAS: defining retail media success through ROAS is flawed, as it doesn’t account for other campaign objectives, such as brand uplift.
Agentic AI’s existential threat to retail media: AI and LLM platforms could potentially remove the exclusive advantage retailers have with their first-party data, and reduce monetisation opportunities.

About our guest:
Kiri Masters is a serial entrepreneur, writer, and podcaster. She founded retail media agency Bobsled Marketing in 2015 and exited 7 years later. She’s become known as a leading expert in the field of retail media and marketplaces, including contributing to the Forbes retail section and co-authoring titles such as Amazon for CMOs. Today she hosts the Retail Media Breakfast Club, a daily podcast and video series charting trends and new thinking in the retail media industry.


About the hosts:

Nick Morgan: Nick is an entrepreneur with over 20 years of experience in digital marketing and eCommerce. He founded Vudoo in 2018, a platform that enables in-stream content commerce across articles, videos, and images. Nick's work transforms every ad impression into a potential shop front, offering a seamless eCommerce experience.

Paul Blackburn: Paul is a digital media innovator with over 20 years of experience. At News Corp Australia, he launched the "Intent Connect" data platform and led innovation in shoppable video and the "Total Commerce" framework. Now as Chief Growth Officer at Vudoo, he helps brands, publishers, and agencies unlock new ways to monetise content through immersive, commerce-enabled experiences.


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