Retail Media Breakfast Club

Creators and retail media are two of the hottest topics in commerce media right now, and everywhere I turn, I hear that they're converging into a massive opportunity. But the more I listened, the more questions I had. Where does creator-led retail media actually begin and end? Who pays for it? Who measures it? And perhaps most importantly: is this really something new, or is it simply another form of advertising wrapped in fresh packaging?
In this episode, I unpack the growing intersection between creators and retail media networks. Drawing on insights from a recent Inmar Retail Media Confessions Series episode, I explore why the real differentiator isn't the creator content itself: it's the retailer's data, targeting capabilities, and measurement infrastructure. Along the way, I separate influencer marketing from retail media, examine how brands are funding creator-led campaigns today, and share where I currently land on one of the industry's most debated topics.

This episode is sponsored by Mirakl Ads

Timeline
[01:03] - Why creators and retail media have become one of the industry's most talked-about opportunities
[02:00] - The powerful combination of creator storytelling and retailer first-party shopper data
[03:15] - Applying the IAB definition to separate influencer marketing, social commerce, affiliate marketing, and true retail media
[04:15] - Amazon Live as a real-world example of where the lines between affiliate marketing and retail media begin to blur
[06:15] - How brands like Rust-Oleum are using creator content inside retail media networks and retailer-owned channels
[09:30] - The evolving financial models behind creator-led retail media and how agencies and retailers are structuring programs
[12:31] - The biggest misconception about creator-led retail media—and why data and measurement matter more than the creative format itself

Links & Resources
Watch the full Inmar episode: 2026 Inmar Retail Media Confessions Series - Episode 4
Meet the Mirakl team at Cannes Lions, June 22–26, for curated conversations, exclusive events, and 1:1 strategy sessions built for where the industry is headed. Commerce-first media starts in Cannes. Register here!
Read my related articles:Is retail media part of search, or is search part of retail media?
How Can RMNs Tap Upper-Funnel Brand Budgets
Why Creator Brands Are Flocking To Walmart

In Atlanta? Join the Commerce Media Happy Hour on Wednesday June 17! RSVP here
I'm 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

In this episode, I reflect on a panel I joined at Mirakl’s Annual Outpace Summit in New York, where a World Cup analogy sparked a bigger realization about what it really takes for marketplaces to win. It’s not enough to “qualify” by launching a marketplace: you only start unlocking real enterprise value when you understand how to monetize the audience you’ve built.
I break down why marketplaces and retail media networks aren’t separate strategies, but a single flywheel. From Lowe’s marketplace evolution to the rise of seller-funded advertising demand, I explore how assortment drives traffic, advertising monetizes attention, and reinvestment fuels the next wave of growth. I also dig into the risks, from marketplace hesitation to AI-driven disruption, and what retailers must do to stay ahead of what’s coming next.

This episode is sponsored by Mirakl Ads

Timeline
[00:00] I open with a World Cup analogy from Mirakl’s summit and correct my own flawed sports metaphor about marketplaces vs. winning!
[01:41] I explain why marketplaces and retail media networks are actually one flywheel, not separate businesses
[03:17] Key insights from the Mirakl panel featuring Mirakl, Lowe's, and Stanley Black & Decker on marketplace scale and strategy
[05:31] Why sellers are actively requesting ads, and how that demand completes the marketplace advertising loop
[07:23] How even high-awareness brands like Black & Decker use retail media to drive product discovery, not just awareness
[10:23] A Forrester study reveals how top retail media networks outperform by tapping mid & long-tail advertisers
[11:15] I explore the future disruption risk from AI shopping agents and why retailers must rethink ad formats and discovery

Links & Resources
Meet the Mirakl team at Cannes Lions, June 22–26, for curated conversations, exclusive events, and 1:1 strategy sessions built for where the industry is headed. Commerce-first media starts in Cannes. Register here!
Read my related articles:The Retail Media Doom Loop
7 Ways to Break the Retail Media Doom Loop
Beyond banner ads: how retailers are monetizing the moments that actually matter (The Drum)

In Atlanta? Join the Commerce Media Happy Hour on Wednesday June 17! RSVP here
Catch me at Cannes 2026, check out all my Events 
I'm 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

Recent;u, I made the case that retail media is far more than a tax on brands or a rounding error disguised as a marketing channel. I still firmly believe that. But believing in the opportunity doesn't mean believing every retail media network will succeed.
In this episode, I unpack a sobering reality facing the industry: while retail media continues to grow, the vast majority of that growth is flowing to a handful of dominant players. Drawing on a recent IAB white paper, I break down the six strategic paths available to commerce media networks, and explain why chasing scale may be the wrong goal for many retailers. From merchant-aligned media and experience-led commerce to coalition models and infrastructure plays, I explore the tough choices retail media leaders need to make before the market makes those choices for them.

This episode is sponsored by Mirakl Ads

Timeline
[00:00] Why I can defend retail media's future while still believing many retail media networks won't survive.
[01:07] The growth math behind retail media, plus why Amazon and Walmart continue to capture most of the upside.
[02:45] The IAB's warning to commerce media networks and the coming industry reckoning.
[04:18] Path 1 and Path 2: Building a full-scale media platform versus running a lean, profitable media business.
[06:15] Path 3: How merchant-aligned media is changing the conversation, with lessons from The Home Depot.
[09:21] Path 4: Experience-led media and why creating memorable shopper experiences may be a competitive advantage.
[10:15] Paths 5 and 6: Infrastructure providers, retail media coalitions, and why collaboration remains difficult in practice.

Links & Resources
Read the IAB white paper: Building a More Competitive Commerce Media Ecosystem
Read my related articles:How retail media could become 'mid'
Is Retail Media Actually Kinda 'Mid'? PART 2
Dark Search, Broken Signals, and What Comes Next for Retail Media

In Atlanta? Join the Commerce Media Happy Hour on Wednesday June 17! RSVP here
Catch me at these Events
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

Today we continue our series on the biggest threats facing retail media by tackling what I call the “Silo Demon.” Joined by Anne Hallock, VP Americas at Mirakl Ads, we explore why one of the greatest challenges facing retail media networks today isn’t external disruption: it’s organizational structure.
Anne and I discuss how retail media teams have evolved far beyond ad sales, often becoming the most technologically advanced and data-driven part of a retailer’s business. We unpack why retail media leaders are increasingly being asked to take on broader responsibilities across marketing, technology, customer data, and organizational transformation. We also explore what it takes to break down legacy silos, modernize operations, and unlock the next phase of growth for retail media networks.

This episode is sponsored by Mirakl Ads

Timeline
[00:00] – Introducing the “Silo Demon” and why internal challenges may be retail media’s biggest threat. 
[01:15] – How retail media evolved from a bolt-on ad sales function into a core technology engine for retailers. 
[02:17] – Key insights from Possible Miami and the growing convergence of marketing technology and advertising technology (“Mad Tech”). 
[03:25] – Why retail media organizations often have more modern tech stacks than marketing departments. 
[05:05] – The hidden complexity of customer data, acquisitions, and legacy technology inside large retail organizations. 
[07:30] – Why leaders with cross-functional experience are being asked to take on larger roles across the business. 
[08:45] – Anne’s playbook for breaking out of the ad sales silo, and reigniting retail media growth through interoperability and smarter technology partnerships. 
[11:15] – Previewing our upcoming Cannes Breakfast Club event and next week’s discussion on the “Shortcut Demon.”

Links & Resources
Retail Media Breakfast Club & Mirakl Ads Live in Cannes @ Hotel Martinez on Thursday, June 25 from 9:00AM – 11:00 AM. Join retail media leaders across EMEA and AMER for this invite-only event co-hosted by Kiri Masters and Mirakl Ads. A guided, authentic breakfast conversation on the next phase of retail media — what's working, what's shifting, and the decisions being made right now that will shape the industry's future. Register here!
Part 1 of the Demons series: The Demons Inside Retail Media, Part 1: GROWTH
Follow Anne Hallock, VP Americas at Mirakl Ads, on LinkedIn
Read my related articles:Retail Media: Same Job Description, Different Invoice
Did we overcook in-store retail media measurement?
Should You Measure Retail Media Like National Media?

In Atlanta? Join the Commerce Media Happy Hour on Wednesday June 17! RSVP 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

For years, we've debated where retail media belongs. Is it part of search? Is search part of retail media? In this episode, I revisit a question I posed 18 months ago after a thought-provoking essay from Hershey's Vinny Rinaldi helped clarify what I was missing.
I explore why retail media continues to be funded, measured, and evaluated differently from other media channels, and why that may have less to do with capabilities, and more to do with organizational structures and inherited expectations. I unpack the growing conversation around demand creation versus demand capture, the role of budget ownership, and why brands may need to rethink not just how they measure retail media, but what they expect it to accomplish in the first place.

This episode is sponsored by Mirakl Ads

Timeline
[00:00] - Why "awareness and sales" is often a vague marketing brief that creates more confusion than clarity
[01:16] - Revisiting the debate: Is retail media part of search, or is search part of retail media?
[02:31] - Why retail media may be better understood as a way of buying media rather than a standalone channel
[03:11] - Vinny Rinaldi's insight: retail media inherited the job description of the budgets it came from
[04:15] - What brands like Hershey and Supergoop are teaching us about integrating commerce media into broader marketing objectives
[07:24] - The measurement debate: Can retail media networks prove brand impact, or should brands bring their own measurement frameworks?

Links & Resources
The Agentic AI Revolution is here. The competitive edge belongs to those who move faster than disruption itself. Join Mirakl Ads and myself for Outpace in New York City on June 10, 2026. Strategies, insights, and connections built for the era of agentic commerce. Save your spot.
Read Vinny Rinaldi's essay: Demand Creation and Demand Capture Aren't Two Budgets. They're One System.
Follow Vinny Rinaldi, VP, Consumer Connections at Hershey, on LinkedIn
Read my related articles:Is retail media part of search, or is search part of retail media?
Whoever Owns the Budget Determines What Retail Media Is Allowed to Be
How Can RMNs Tap Upper-Funnel Brand Budgets

In Atlanta? Join the Commerce Media Happy Hour on Wednesday June 17! RSVP here
I'm 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