Amazon's Patent Reveals How Alexa+ Will Transform Product Discovery
In this episode, the host Kiri Masters' discusses Amazon's recent announcement of Alexa Plus, a significant upgrade to Alexa's capabilities by integrating voice commands with Rufus's advanced product intelligence. This fusion aims to create a more sophisticated shopping assistant, capable of handling complex product queries through natural conversation. The episode covers how this development impacts retail professionals and the consumer path to purchase, allowing for a more intuitive and personalized shopping experience through enhanced natural language processing and seamless cross-device continuity. Key insights are drawn from an Amazon patent analysis and opinions from experts, highlighting the evolution from clunky voice commands to a potential game-changer in voice commerce.Link to Kiri's detailed article on Forbes: https://www.forbes.com/sites/kirimasters/2025/03/13/amazons-patent-reveals-how-alexa-will-transform-product-discovery/Link to analysis of Alexa patent: https://poe.com/preview/R2HE3bO3PUhfXlkLuoS0PRODUCED BY:https://aipodcast.ingCHAPTERS:(00:00) About Today's Topic(00:49) About the Show(01:10) Introduction and Background(01:46) Amazon's Patent and Alexa's Evolution(03:49) Advanced Product Research Capabilities(05:35) The New Shopping Journey(07:06) Voice and Visual Integration(08:29) Personalization in Alexa(10:25) Implications for Consumers and Brands(12:46) OutroSOCIAL LINKS:Website: https://www.retailmediabreakfastclub.comLinkedIn: https://www.linkedin.com/in/kiri-masters/YouTube: https://www.youtube.com/@retailmediabreakfastclubApple: https://podcasts.apple.com/us/podcast/retail-media-breakfast-club/id1782187624//Spotify: https://open.spotify.com/show/3s5MuqcrsOmQDKn3uMYJKb
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13:06
Best Buy's Marketplace Bet Is Really About Ad Revenue
In this episode, we explore Best Buy's upcoming launch of a third-party marketplace in the US set for this summer. While expanding its product range is a goal, the primary focus is on building a robust advertising business. We delve into insights from Best Buy's recent earnings call, where CEO Corey Barry emphasized the interconnectedness of the marketplace and advertising strategies. We also compare Best Buy's current approach to historical attempts and other retail giants like Walmart and Amazon. Key highlights include the diversification of advertisers, impacts on brands, seller perspectives, and anticipated consumer benefits. The episode concludes with a bullish take on Best Buy's potential ad revenue growth through this marketplace initiative.Link to Kiri's original Forbes article on this topic, published Tuesday march 11 : https://www.forbes.com/sites/kirimasters/2025/03/11/best-buys-marketplace-bet-is-really-about-ad-revenue/Link to Pentaleap/ Colosseum strategy report: https://www.pentaleap.com/reports/h2-2024-sponsored-products-benchmarks-reportPRODUCED BY:https://aipodcast.ingCHAPTERS:(00:00) About Today's Topic(00:20) About the Show(00:42) Introduction and Overview(02:06) Best Buy's Marketplace History(04:19) Advertising Potential of Marketplaces(06:11) Diversifying Advertiser Base(10:17) Seller Perspectives on Best Buy's Marketplace(13:18) Conclusion and Future Outlook(13:48) OutroSOCIAL LINKS:Website: https://www.retailmediabreakfastclub.comLinkedIn: https://www.linkedin.com/in/kiri-masters/YouTube: https://www.youtube.com/@retailmediabreakfastclubApple: https://podcasts.apple.com/us/podcast/retail-media-breakfast-club/id1782187624//Spotify: https://open.spotify.com/show/3s5MuqcrsOmQDKn3uMYJKb
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14:08
Retailers Are Learning to Sell (Part 3/3): How Retailers and Media Buyers Can Work Better Together
In this special 3-part series, Jordan Witmer, Managing Director of Unified Commerce at the agency Nectar First, joins Kiri to riff on the business of retail media from an advertiser, technology, and retailer perspective. we discuss about how retailers are jumping into the business of selling their ad inventory to brands. As they stand up these highly profitable properties, retailers need to grapple with a very "retail" challenge: their unique value proposition - but this time to advertisers rather than consumers.In today's episode (the final episode of this miniseries), we discuss how retailers and media buyers can work better together, the need for transparency, and the importance of differentiation. Additionally, we explore the trend of self-service ad buying, highlighted by PepsiCo's recent move, and its implications for brands and retailers alike. Tune in for a deeper understanding of how retailers can collaborate more effectively with brands and optimize their media strategies.Link to Jordan's LinkedIn profile: https://www.linkedin.com/in/jordan-witmer-b220b646/Link to Nectar First: https://nectarfirst.com/PRODUCED BY:https://aipodcast.ingCHAPTERS:(00:00) About Today's Topic(01:08) About the Show(01:28) Introduction and Initial Thoughts(01:45) Risks in Retail Media Networks(03:09) Consumer Perspective on Retail Media(05:24) Transitioning from Minor to Major League Retail Media(07:13) PepsiCo's Move to Self-Serve Ad Buying(07:54) Advantages of Self-Service for Brands(08:45) Incentive Structures in Managed Service Setups(10:20) Conclusion and Final Thoughts(10:38) OutroSOCIAL LINKS:Website: https://www.retailmediabreakfastclub.comLinkedIn: https://www.linkedin.com/in/kiri-masters/YouTube: https://www.youtube.com/@retailmediabreakfastclubApple: https://podcasts.apple.com/us/podcast/retail-media-breakfast-club/id1782187624//Spotify: https://open.spotify.com/show/3s5MuqcrsOmQDKn3uMYJKb
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10:58
Retailers Are Learning to Sell—But This Time, It’s Media (Part 2/3): The Retail Media Tech Stack
In this special 3-part series, Jordan Witmer, Managing Director of Unified Commerce at the agency Nectar First, joins Kiri to riff on the business of retail media from an advertiser, technology, and retailer perspective. we discuss about how retailers are jumping into the business of selling their ad inventory to brands. As they stand up these highly profitable properties, retailers need to grapple with a very "retail" challenge: their unique value proposition - but this time to advertisers rather than consumersIn today's episode, we discuss why some retailers are hesitant to disclose details about their tech stacks and how standardized technologies can benefit retail media buyers. Jordan highlights the importance of identifying the underlying tech used by retail media networks and provides insights into the key questions media buyers should ask to understand these systems. The episode also delves into the red flags media buyers should watch out for, emphasizing the need for transparency and trust in the industry.Link to Jordan's post about Product versus Keyword Targeting within sponsored product ads: https://www.linkedin.com/pulse/expanding-sponsored-products-conversation-jordan-witmer-tehqe/?trackingId=zLjMV%2F3kROKDRueyDPnSug%3D%3DLink to Jordan's LinkedIn profile: https://www.linkedin.com/in/jordan-witmer-b220b646/Link to Nectar First: https://nectarfirst.com/PRODUCED BY:https://aipodcast.ingCHAPTERS:(00:00) About Today's Topic(00:27) About the Show(00:48) Introduction and Recap(01:13) Retail Media Networks and Technology(02:03) Identifying Backend Technologies(03:00) Understanding the Ecosystem(05:11) Questions for Media Buyers(06:24) Red Flags in Media Buying(07:23) Transparency and Trust Issues(08:19) The discussion continues(08:30) OutroSOCIAL LINKS:Website: https://www.retailmediabreakfastclub.comLinkedIn: https://www.linkedin.com/in/kiri-masters/YouTube: https://www.youtube.com/@retailmediabreakfastclubApple: https://podcasts.apple.com/us/podcast/retail-media-breakfast-club/id1782187624//Spotify: https://open.spotify.com/show/3s5MuqcrsOmQDKn3uMYJKb
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8:51
Retailers Are Learning to Sell—But This Time, It’s Media, Not Products (Part 1/3)
In this special 3-part series, Jordan Witmer, Managing Director of Unified Commerce at the agency Nectar First, joins Kiri to riff on the business of retail media from an advertiser, technology, and retailer perspective. we discuss about how retailers are jumping into the business of selling their ad inventory to brands. As they stand up these highly profitable properties, retailers need to grapple with a very "retail" challenge: their unique value proposition - but this time to advertisers rather than consumers. Today's discussion delves into the concept of retailers reverting to their core competencies by utilizing advanced retail media technologies. Throughout the episode, Jordan explains the industry's shift from viewing retailers as media companies to focusing on their primary role of merchandising products effectively. The discussion also explores the growing sophistication of retail media networks, the technologies that power them, and the reasons behind some retailers' reluctance to disclose their tech stacks.This is Part 1 of the special 3 part series.Link to LI profile: https://www.linkedin.com/in/jordan-witmer-b220b646/Link to Nectar First: https://nectarfirst.com/PRODUCED BY:https://aipodcast.ingCHAPTERS:(00:00) About Today's Topic(00:27) About the Show(00:48) Introduction to Retailers Becoming Retailers Again(01:04) The Role Reversal in Retail Media(02:47) Understanding the Backend Tech(03:18) The Gold Analogy and Retailer Strategies(05:12) Retailers' Secrecy on Tech Stacks(07:59) The Debate Continues(08:12) OutroSOCIAL LINKS:Website: https://www.retailmediabreakfastclub.comLinkedIn: https://www.linkedin.com/in/kiri-masters/YouTube: https://www.youtube.com/@retailmediabreakfastclubApple: https://podcasts.apple.com/us/podcast/retail-media-breakfast-club/id1782187624//Spotify: https://open.spotify.com/show/3s5MuqcrsOmQDKn3uMYJKb
Ireland