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Retail Media Breakfast Club

Retail Media Breakfast Club

By: Kiri Masters
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Summary

 10 minutes of expert insights every weekday. Your morning ritual for staying ahead in retail media.© 2026 Kiri Masters Economics Marketing Marketing & Sales
Episodes
  • Why iROAS Metrics Are So Inconsistent (And Why Debate Is Good For The Industry)

    Why iROAS Metrics Are So Inconsistent (And Why Debate Is Good For The Industry)
    May 5 2026
    Today I unpack the intense industry reaction to a piece of Albertsons Media Collective, Ovative Group, and Kellogg School of Management research that challenged how we measure iROAS in retail media. When a single campaign’s return can swing wildly — up to 6.5x — based purely on methodology, it raises some uncomfortable but necessary questions. I walk through the biggest critiques that surfaced from practitioners and academics, and why this debate matters more than ever for brands trying to make sense of their performance data.I also share how the authors of the study responded to the pushback, and what they didn’t address. More importantly, we get into what this all means for real-world advertisers, especially mid-market brands navigating opaque reporting standards. If you’ve ever questioned whether your campaign results are telling the full story, this episode will give you a fresh lens to evaluate retail media measurement.This episode is sponsored by Mirakl AdsTimeline[00:00] – Why controversial research is better than silence, and what sparked this debate[00:31] – The headline finding: iROAS can vary dramatically depending on measurement methodology[01:24] – Key critique: Are these methodologies even comparable in the first place?[02:07] – The BSTS debate: causal method or misapplied forecasting tool?[03:08] – A practical question: What are brands actually using iROAS for?[04:30] – The authors respond: what the study was, and wasn’t, designed to prove[05:39] – What mid-market brands should do next: pushing for transparency and better disclosureLinks & ResourcesThe white paper in question, titled iROAS Demystified, is a collaboration between Albertsons Media Collective, Ovative Group, and professors from Northwestern University's Kellogg School of Management. My original article on the white paper: iROAS results can be easily gamed. But we shouldn't just throw it awayThe LinkedIn comment thread in which the research was fiercely debatedCheck out Prof. Koen Pauwels' Substack Amazon DaysRead my related articles:Why ROAS Refuses To DieRetail Media's Measurement Problem: It's Not Just the Retailers'Not 100% altruistic': ad measurement veteran on what retail media is really optimizing forOn Thursday May 7 I am hosting a LinkedIn Live event: How Kroger Precision Marketing Is Plugging Into National Brand Budgets ! Join me, Christine Foster (head of Kroger Precision Marketing) and Jon Flugstad (Metarouter) to hash out the details of Kroger's partnership with DV360 and how this development is a sign of maturity in the retail media ecosystem. Bring your questions, we'll be doing this LIVE.I'm keynoting at Xnurta's Signal to Scale summit on May 19 in Chicago. This is the room to be in if you work in retail media, care about what AI actually changes, and want to leave with something you can put to work. A full day focused on agentic AI, modern measurement, and the strategies the best teams are already building toward. Reserve your spot here.I'm sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclubSubscribe to Retail Media Breakfast Club's daily newsletterFollow Kiri Masters on LinkedIn
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    8 mins
  • Bring the “Retail” Back to Retail Media: 4 Fixes Every RMN Needs Now

    Bring the “Retail” Back to Retail Media: 4 Fixes Every RMN Needs Now
    May 4 2026

    Last week, I had the opportunity to moderate a powerhouse panel at the The Drum's inaugural Global Commerce Leaders Forum in Miami. And let me tell you, the insights that came out of our lightning round were too good not to share. I asked each expert a simple but loaded question: What’s one thing you’d fix in the next 12 months to make retail media networks more mature? The answers cut straight to the core of where this industry is headed.

    In this episode, I break down the most compelling takeaways. From why we need to reconnect retail media with its retail roots, to the urgent need for better collaboration, clearer measurement, and a long-term vision. If you’re building, buying, or scaling within retail media, this conversation will challenge how you think about growth and what really drives impact.


    This episode is sponsored by Mirakl Ads


    Timeline

    [00:00] – Setting the stage: Highlights from the Global Commerce Leaders Forum panel
    [01:05] – Why it’s time to “bring the retail back” to retail media
    [02:00] – How performance data is winning over merchants and driving adoption
    [03:30] – The industry’s biggest challenge: agreeing on measurement and “the math”
    [05:45] – Finding your North Star in a maturing and more competitive landscape
    [07:45] – Breaking down silos to unlock the next phase of retail media growth

    Links & Resources

    • Content from The Drum's 2026 Commerce Media Global Leaders’ Forum
    • Read my related articles:
      • Ace Hardware's RedVest Media: Notes From My Interview With Molly Hjelm
      • Brands Are From Mars, Retailers Are From Venus
      • Retail Media's Measurement Problem: It's Not Just the Retailers
    • On Thursday May 7 I am hosting a LinkedIn Live event: How Kroger Precision Marketing Is Plugging Into National Brand Budgets ! Join me, Christine Foster (head of Kroger Precision Marketing) and Jon Flugstad (Metarouter) to hash out the details of Kroger's partnership with DV360 and how this development is a sign of maturity in the retail media ecosystem. Bring your questions, we'll be doing this LIVE.
    • I'm keynoting at Xnurta's Signal to Scale summit on May 19 in Chicago. This is the room to be in if you work in retail media, care about what AI actually changes, and want to leave with something you can put to work. A full day focused on agentic AI, modern measurement, and the strategies the best teams are already building toward. Reserve your spot here.
    • I am sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclub
    • Subscribe to Retail Media Breakfast Club's daily newsletter
    • Follow Kiri Masters on LinkedIn
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    9 mins
  • Kroger x YouTube: The Retail Media Breakthrough That Could Unlock Billions in Brand Budgets

    Kroger x YouTube: The Retail Media Breakthrough That Could Unlock Billions in Brand Budgets
    Apr 30 2026

    I’m coming to you a little under the weather today, but this recap of my recent article for The Drum was too important not to share. In this episode, I break down Kroger’s new YouTube integration and why it could be a turning point for retail media networks trying to crack into elusive national brand budgets.

    I dig into what Kroger Precision Marketing actually built with Google’s DV360, why it matters for both measurement and media buying workflows, and how this move could finally align retail media with the expectations of brand marketers. If you’ve been wondering what it really takes to unlock CMO-level budgets, this episode connects the dots, and challenges the old playbooks many of us have been relying on.


    This episode is sponsored by Mirakl Ads


    Timeline

    [00:00] – I kick things off (slightly sick!) and introduce Kroger’s YouTube integration
    [01:00] – Why retail media networks are struggling to unlock brand budgets
    [01:30] – What Kroger’s DV360 integration actually enables for advertisers
    [02:15] – The three biggest barriers to brand budget adoption and how Kroger addresses them
    [03:00] – Why YouTube video changes the game for emotional brand storytelling
    [04:00] – The measurement breakthrough: SKU-level attribution and real-time optimization
    [06:00] – Why workflow simplicity (and fewer dashboards) is a bigger deal than you think
    [08:30] – What happens when online ads connect to in-store purchases (and why that’s the real test)


    Links & Resources

    • My article on The Drum: Kroger’s YouTube deal is the brand budget bridge retail media has been waiting for
    • Read my related articles:
      • iROAS results can be easily gamed. But we shouldn't just throw it away
      • The ‘Costco Velocity’ Tech Stack Is Coming Together. Here's How the Pieces Fit.
      • Brian Monahan's 'Bloody Obvious' Bets Are Shaking Up Albertsons Media Collective
    • NEXT WEEK on Thursday May 7 I am hosting a LinkedIn Live event: How Kroger Precision Marketing Is Plugging Into National Brand Budgets ! Join me, Christine Foster (head of Kroger Precision Marketing) and Jon Flugstad (Metarouter) to hash out the details of Kroger's partnership with DV360 and how this development is a sign of maturity in the retail media ecosystem. Bring your questions, we'll be doing this LIVE.
    • I launched an Instagram account with comedy skits about the retail media industry! Follow along: @retailmediabreakfastclub
    • Subscribe to Retail Media Breakfast Club's daily newsletter
    • Follow Kiri Masters on LinkedIn
    Show More Show Less
    9 mins
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