Retail media networks were supposed to be the ad industry’s silver bullet, offering highly targeted ad opportunities with first-party retailer data. But cracks are starting to form in the illusion, as marketers take a closer look at the $62 billion business in the U.S. And those cracks are trickling all the way down to the way agencies and retailers themselves hire retail media strategists, buyers and experts.
Retail media is expected to be one of the fastest-growing ad channels this year, according to eMarketer. Still, it’s unclear who exactly controls retail media spend on the brand advertising side, how those deals should be brokered and how campaigns should be measured, as there’s no one standard yet.
Retail media networks are continuing to scale up. According to Parbinder Dhariwal, vp and general manager at CVS Media Exchange, or CMX, CVS’s retail media network, the company is aiming to increase their workforce by 25% to 30%, especially around product roles, after going into the business five years ago. Agencies are also on the hunt for retail media talent.
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