Retail Media Breakfast Club

Today I’m taking you behind the scenes of a packed stretch of travel — three major industry events in just a few days — and using it as a jumping-off point to unpack a bigger question: are work trips and in-person events still worth it in today’s commerce media landscape?
I dive into fresh data from my LinkedIn poll and explore the growing divide between those constantly on the road and those opting out entirely. I talk about budget pressures, decision fatigue, and the real, often unspoken value of being in the room. If you’ve ever felt torn between FOMO and JOMO when it comes to industry events, this episode will give you a clearer lens on how to think about where and when to show up.

This episode is sponsored by Mirakl Ads

Timeline
[00:00] – A whirlwind week: juggling three major commerce media events across multiple cities
[01:00] – Why I ran a LinkedIn poll on event attendance and what sparked the question
[01:45] – The surprising stat: 28% of industry professionals aren’t attending any events
[02:45] – The real reason behind declining attendance: budget pressure vs. calendar overload
[03:30] – The explosion of commerce media events and why choosing is harder than ever
[05:00] – Decision fatigue, FOMO vs. JOMO, and the emotional side of skipping events
[06:00] – What makes an event truly worth attending in 2026
Links & Resources
Read my related articles:Writing From the Middle of the Room
My Media Diet
Get On The Damn Stage

I am sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclub
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Follow Kiri Masters on LinkedIn

Today I’m focusing on my recent article for The Drum, breaking down what really stood out from Home Depot’s third annual Infronts event, and there’s more going on than just incremental progress. Sure, merchant alignment and the shift toward self-service are important, but what really caught my attention is how Orange Apron Media is doubling down on the things only Home Depot can do.
From turning the Pro customer into a powerful media asset, to rethinking how in-store and online performance are measured, this episode explores how differentiation (not scale) is becoming the real competitive edge in retail media. I also dig into how tighter integration between media and merchandising data is changing the game for suppliers, and why Home Depot’s so-called “limitations” might actually be its biggest strengths.

This episode is sponsored by Mirakl Ads

Timeline
[00:00] – Two major themes from InFronts: merchant alignment and self-service evolution
[00:30] – Why Orange Apron Media is focusing on what makes Home Depot uniquely powerful
[00:45] – The Pro customer as a high-value, deeply owned media audience
[01:45] – Scaling in-store media: 1,400 stores and a layered retail media ecosystem
[02:45] – Why paint is a top performer when you measure beyond e-commerce
[04:00] – Connecting media spend to real sales through integrated analytics
[06:30] – Home Depot’s hybrid tech stack strategy: build vs. buy decisions
[07:15] – “Quirks are a feature”: turning specialization into a competitive advantage

Links & Resources
My article on The Drum: Why Home Depot put its merchants on stage at its retail media upfronts
Read my related articles:Home Depot’s Retail Media Chief Puts Suppliers At The Center
The ‘Costco Velocity’ Tech Stack Is Coming Together. Here's How the Pieces Fit.
‘Retail Media has a PR problem’ Says CVS Media Exchange's Parbs Dhariwal

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

Today I dig into a question that’s been coming up more and more from retail media leaders: Should we be measuring retail media the same way we measure national media? It sounds simple, but once you get into it, things get complicated fast. I share insights from experts across my network to unpack why there’s no clean, one-size-fits-all answer, and what brands should actually be doing instead.
I explore the tension between commerce-specific measurement models and traditional marketing mix models. Where each one works, and where they fall apart. I also break down real-world failure modes, who should actually own measurement, and the critical mindset shift brands need to make before they even start analyzing performance. If you’ve ever struggled to reconcile ROAS, MMM, and retail media impact, this episode will give you clarity (and a few strong opinions).

This episode is sponsored by Mirakl Ads

Timeline
[00:00] – The big question: Can retail media and national media be measured the same way?
[01:00] – Why different objectives require different measurement frameworks
[02:00] – The “camera lens” analogy: why one model can’t do it all
[03:15] – What goes wrong when brands force a single MMM across everything
[04:00] – How measurement issues start influencing business decisions (in the wrong way)
[05:00] – Who really owns measurement: brands, agencies, or retail media networks?
[07:30] – The maturity gap: why not all brands are ready for advanced measurement
[08:15] – The key takeaway: define the job of each dollar before measuring success

Links & Resources
Recap of my LinkedIn Live with Jordan Witmer from SALT XC: Whoever Owns the Budget Determines What Retail Media Is Allowed to Be
Read my related articles:iROAS results can be easily gamed. But we shouldn't just throw it away
'Not 100% altruistic': ad measurement veteran on what retail media is really optimizing for
Why ROAS Refuses To Die

I'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HERE
Follow my new Instagram account for comedy skits about the quirks of retail media @retailmediabreakfastclub
Subscribe to Retail Media Breakfast Club's daily newsletter
Follow Kiri Masters on LinkedIn

I recently had the pleasure of joining one of my favorite retail media podcasts, Unlocked, with Austin and Elizabeth. Today, I’m sharing a snippet from that conversation in which we get into something much more personal: my process as a writer, how I consistently create content, and why storytelling has become such a powerful tool in my work.
I also open up about how I actually use AI in my day-to-day workflow (and why I still feel behind!), plus a storytelling framework that’s completely changed how I approach content. And to top it off, I share a slightly embarrassing — but very real — story from my early days in retail media that you likely haven’t heard before.

This episode is sponsored by Mirakl Ads

Timeline
[00:00] – Why I love the Unlocked podcast and what makes it different from typical retail media shows
[00:45] – My real, unfiltered process for creating consistent content (yes, sometimes it’s last-minute)
[02:00] – How I think about content ideas and why I never run out of things to say
[03:00] – The AI tools I actually use (and how they help me scale output)
[04:00] – My storytelling framework and the “Homework for Life” habit
[08:00] – The origin of my retail media journey and the moment that changed everything
[09:15] – The unexpected legal drama behind one of my books
Links & Resources
Listen to my full appearance on Unlocked
Subscribe to Unlocked with Austin and Elizabeth on Apple Podcasts
Follow Austin Leonard, Vice President and General Manager of DG Media Network, on LinkedIn
Follow Elizabeth Neubauer-Donovan, EVP, Global Head of Commerce & Retail Media Networks @ Acxiom Omnicom, on LinkedIn
Read my related articles:Writing From the Middle of the Room
My Media Diet
Get On The Damn Stage

I'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HERE
Follow my new Instagram account for comedy skits about the quirks of retail media @retailmediabreakfastclub
Subscribe to Retail Media Breakfast Club's daily newsletter
Follow Kiri Masters on LinkedIn

Today I'm unpacking a blind spot that completely changed how I’m thinking about AI’s impact on retail media. Recently I’ve been talking a lot about the long-term threat of agentic commerce — fewer ad surfaces, weaker first-party data— but there’s a more immediate issue already happening right now. AI agents are actively browsing retail sites, clicking around, and triggering ad impressions… without a human ever seeing a single ad.
I walk through how this is quietly distorting ad metrics, inflating performance data, and concerningly, corrupting the behavioral signals that power retail media targeting. If AI agents are shaping audience data and driving “fake” intent, what does that mean for the entire measurement system? And are we even asking the right questions yet?

This episode is sponsored by Mirakl Ads

Timeline
[00:00] – Why a Business of Fashion article made me rethink AI’s impact on retail media
[00:45] – The structural threat of AI shopping agents to ad surfaces and first-party data
[01:15] – How AI agents are already clicking ads, and why brands are paying for it
[02:18] – The illusion of impressions: from humans scrolling to bots with no eyes
[03:06] – The “relentless agent” problem: repeated clicks and inflated ad events
[03:45] – How AI activity is poisoning behavioral data and audience targeting
[05:36] – “Cost per human”: the emerging fix, and why it’s harder than it sounds
[06:00] – What this means for retail media networks right now (not someday)
Links & Resources
Business of Fashion article: How AI Shopping Agents Are Reshaping Fashion’s Ad Economy
Learn more about AI analytics company DoubleVerify
Read my related articles:‘Dark Search’ Is Making AI-Facilitated Commerce Look Smaller Than It Really Is
Dark Search, Broken Signals, and What Comes Next for Retail Media
Agentic Commerce Is a Sequencing Problem, Not an Existential One

I'm hosting a LIVE event with In-Store Marketplace and Catalyst Media Consulting on April 22 about In-Store Retail Media: are we measuring the wrong things? We'll discuss New Research on the state of in-store retail media measurement — and why the path forward may actually be simpler than the industry is making it. REGISTER HERE
Follow my new Instagram account for comedy skits about the quirks of retail media @retailmediabreakfastclub 
Subscribe to Retail Media Breakfast Club's daily newsletter
Follow Kiri Masters on LinkedIn