1
00:00:00,760 –> 00:00:03,280
Speaker 1: The one last wrinkle that is really interesting to me,

2
00:00:03,360 –> 00:00:07,780
Speaker 1: particularly in CPG, is a new media format that exists today,

3
00:00:07,840 –> 00:00:09,640
Speaker 1: but we don’t talk about it in the context of

4
00:00:09,740 –> 00:00:12,569
Speaker 1: retail media, and that is product samples. I think of

5
00:00:12,590 –> 00:00:15,070
Speaker 1: it as the most effective form of media because you

6
00:00:15,110 –> 00:00:17,230
Speaker 1: actually get to try the product. It doesn’t work in

7
00:00:17,250 –> 00:00:20,430
Speaker 1: a lot of categories, but it certainly does in CPG

8
00:00:20,489 –> 00:00:23,630
Speaker 1: health and beauty. It’s really going to revolutionize a lot

9
00:00:23,670 –> 00:00:26,150
Speaker 1: of things in how we think about return on ad

10
00:00:26,170 –> 00:00:29,750
Speaker 1: spend because it’s Today, sampling programs are just thought of

11
00:00:29,850 –> 00:00:32,230
Speaker 1: almost like TV. You throw some budget at it and

12
00:00:32,290 –> 00:00:35,370
Speaker 1: you see what happens. But we have measurability. And so

13
00:00:35,490 –> 00:00:38,680
Speaker 1: I’m really excited about what attribution is going to do

14
00:00:38,960 –> 00:00:40,860
Speaker 1: for product sampling. So I think it becomes a really

15
00:00:40,920 –> 00:00:44,040
Speaker 1: critical piece to the full funnel retail media strategy.

16
00:00:45,659 –> 00:00:47,760
Speaker 2: Welcome to today’s episode of Brave Commerce.

17
00:00:48,080 –> 00:00:50,879
Speaker 3: I’m Rachel Tippegraph, the founder and CEO of Micmac.

18
00:00:51,240 –> 00:00:53,680
Speaker 2: I’m Sarah Hofstetter, president of Profitero.

19
00:00:53,920 –> 00:00:56,060
Speaker 3: And this is a show that talks about what’s relevant

20
00:00:56,100 –> 00:01:09,220
Speaker 3: in e-commerce for the world’s biggest brands. Sarah, is 2024

21
00:01:09,220 –> 00:01:10,360
Speaker 3: the year of retail media?

22
00:01:10,740 –> 00:01:13,560
Speaker 2: It’s like asking me in 2010 if it was the

23
00:01:13,610 –> 00:01:15,830
Speaker 2: year of mobile, like, and also 2011, 2012, 2013, you know.

24
00:01:19,209 –> 00:01:23,090
Speaker 2: It probably was a year of retail media. We’re probably

25
00:01:23,110 –> 00:01:25,670
Speaker 2: in our fourth year, fifth year of retail media, something

26
00:01:25,709 –> 00:01:28,580
Speaker 2: pretty hot. I think the big question is, is retail

27
00:01:28,610 –> 00:01:31,059
Speaker 2: media taking over the world? Is it so much more

28
00:01:31,100 –> 00:01:33,840
Speaker 2: than what we thought it was last month or last year?

29
00:01:34,360 –> 00:01:39,220
Speaker 2: Being part of a larger Holdco and Publicis, it is

30
00:01:39,280 –> 00:01:43,949
Speaker 2: amazing to see how different people even define it. But

31
00:01:44,209 –> 00:01:46,810
Speaker 2: you’ve been in this retail media space for quite some time.

32
00:01:46,830 –> 00:01:47,330
Speaker 2: What’s your take?

33
00:01:47,850 –> 00:01:52,080
Speaker 3: My take is that obviously the ecosystem is maturing, but

34
00:01:52,110 –> 00:01:55,580
Speaker 3: with that comes new opportunities and challenges. From a brand

35
00:01:55,620 –> 00:01:59,620
Speaker 3: manufacturer standpoint, they’re certainly more sophisticated. I think the pain

36
00:01:59,660 –> 00:02:02,180
Speaker 3: points that brands have expressed for the last few years

37
00:02:02,580 –> 00:02:06,800
Speaker 3: remain the same. There’s no standardization, apples to apples comparison

38
00:02:06,820 –> 00:02:11,550
Speaker 3: across retailers, across platforms. And then that goes across the buying,

39
00:02:11,610 –> 00:02:15,500
Speaker 3: the formats and all of that. Married with the fact

40
00:02:15,620 –> 00:02:19,160
Speaker 3: that brands have gotten more sophisticated, they’re putting retail media

41
00:02:19,180 –> 00:02:22,600
Speaker 3: into their media mix models, and it’s coming back unprofitable.

42
00:02:22,639 –> 00:02:26,079
Speaker 3: And the reason is retail media isn’t just media. It’s

43
00:02:26,419 –> 00:02:29,220
Speaker 3: your total cost to serve the retailer. And then I

44
00:02:29,620 –> 00:02:32,639
Speaker 3: think this is going to get compounded in good and

45
00:02:32,680 –> 00:02:37,280
Speaker 3: bad ways for the ecosystem because of cookie-less internet. Cookie-less

46
00:02:37,320 –> 00:02:41,530
Speaker 3: internet is going to challenge attribution as we all know it.

47
00:02:42,320 –> 00:02:46,620
Speaker 3: Most ad platforms have historically relied on cookies, both for

48
00:02:47,280 –> 00:02:51,990
Speaker 3: building audience pools, doing prospecting, retargeting, and then reporting. This

49
00:02:52,030 –> 00:02:54,910
Speaker 3: whole notion of putting a Facebook pixel on a checkout cart,

50
00:02:55,590 –> 00:03:00,950
Speaker 3: that’s going to undo itself. And everyone is going to

51
00:03:00,970 –> 00:03:06,770
Speaker 3: want to leverage direct integrations with the retailers. The question is, one,

52
00:03:06,850 –> 00:03:09,130
Speaker 3: how do you do that at scale? Like you could

53
00:03:09,150 –> 00:03:10,829
Speaker 3: do it maybe with a handful, but how do you

54
00:03:10,850 –> 00:03:13,709
Speaker 3: do it for the 5,000 retailers where your product’s available at?

55
00:03:14,570 –> 00:03:16,710
Speaker 3: And then the second is, how is this going to

56
00:03:16,750 –> 00:03:19,940
Speaker 3: work from a margin game? Because Facebook is going to

57
00:03:19,960 –> 00:03:23,100
Speaker 3: be giving up a portion of their ad dollars to

58
00:03:23,160 –> 00:03:27,340
Speaker 3: Walmart and then vice versa. And I just don’t know

59
00:03:27,680 –> 00:03:31,500
Speaker 3: how this story ends where everyone is happy with the

60
00:03:31,540 –> 00:03:32,720
Speaker 3: slice of the pie that they’re getting.

61
00:03:33,260 –> 00:03:35,860
Speaker 2: Nobody’s ever happy with the slice of pie anybody gets.

62
00:03:36,080 –> 00:03:38,240
Speaker 2: Let’s just be clear. And it’s not just because I

63
00:03:38,280 –> 00:03:42,980
Speaker 2: love eating and pie is delicious, but because everybody believes

64
00:03:43,200 –> 00:03:47,680
Speaker 2: that their total addressable market is sitting in somebody else’s pie,

65
00:03:47,760 –> 00:03:51,280
Speaker 2: if you will. So, you know, you talked about cookie-less

66
00:03:51,310 –> 00:03:54,830
Speaker 2: internet coming out. This is the year theoretically of cookie-less internet,

67
00:03:55,150 –> 00:03:57,330
Speaker 2: but it’s not like it just showed up. We’ve known

68
00:03:57,370 –> 00:04:00,550
Speaker 2: about this for five years coming. What do you think

69
00:04:01,220 –> 00:04:03,000
Speaker 2: What do you think has been happening behind the scenes

70
00:04:03,060 –> 00:04:06,220
Speaker 2: to prepare for this David and Goliath battle, this Goliath

71
00:04:06,240 –> 00:04:07,180
Speaker 2: and Goliath battle?

72
00:04:07,840 –> 00:04:11,480
Speaker 3: On the platform side and the retailer side, there’s a

73
00:04:12,180 –> 00:04:19,480
Speaker 3: handful of instances where cookie-proof attribution has been built. But

74
00:04:20,100 –> 00:04:21,820
Speaker 3: you’ll hear it from Andrew, who we’re going to bring

75
00:04:21,900 –> 00:04:24,960
Speaker 3: on to the show, that really only represents 10% of

76
00:04:24,980 –> 00:04:30,520
Speaker 3: total inventory today. 90% of inventory isn’t reflective of cookie-proof methods.

77
00:04:31,420 –> 00:04:34,060
Speaker 3: And it’s really, really hard to do that at scale

78
00:04:34,680 –> 00:04:39,029
Speaker 3: when the retailer ecosystem is so fragmented globally. For example,

79
00:04:39,230 –> 00:04:43,950
Speaker 3: if you want to buy Facebook display ads against Walmart audiences,

80
00:04:44,070 –> 00:04:46,650
Speaker 3: that can be facilitated. But if you want to do

81
00:04:46,710 –> 00:04:52,450
Speaker 3: that at a local grocer in Southwest US, that’s much

82
00:04:52,500 –> 00:04:53,120
Speaker 3: harder to do.

83
00:04:53,700 –> 00:04:58,880
Speaker 2: I’ll flip that. So what if you could buy in

84
00:04:59,160 –> 00:05:06,089
Speaker 2: that special region on CTV based on Walmart data in

85
00:05:06,130 –> 00:05:06,710
Speaker 2: that region.

86
00:05:07,410 –> 00:05:09,390
Speaker 3: I would argue what the trade desk has been trying

87
00:05:09,440 –> 00:05:12,020
Speaker 3: to do, which is to aggregate all the supply.

88
00:05:12,200 –> 00:05:16,099
Speaker 2: Well, it’s also aggregating the supply of the actual products

89
00:05:16,160 –> 00:05:19,740
Speaker 2: in store. So imagine you use Proftero data on what

90
00:05:19,820 –> 00:05:21,539
Speaker 2: is in stock or what is not in stock in

91
00:05:21,560 –> 00:05:25,500
Speaker 2: those actual stores, then buy programmatically on the trade desk

92
00:05:25,680 –> 00:05:29,240
Speaker 2: off of the information that you’re getting from the retailers.

93
00:05:29,620 –> 00:05:30,380
Speaker 2: Pretty freaking cool.

94
00:05:30,940 –> 00:05:33,539
Speaker 3: It would be. Or you could also use a platform

95
00:05:33,560 –> 00:05:36,950
Speaker 3: like Micmac that automatically picks up on inventory and marries

96
00:05:37,010 –> 00:05:41,750
Speaker 3: it to consumer demand. So, yes, very crafty players like

97
00:05:41,810 –> 00:05:45,250
Speaker 3: Micmac and Profitero have been thinking about ways to move

98
00:05:45,270 –> 00:05:46,310
Speaker 3: the ecosystem forward.

99
00:05:46,620 –> 00:05:47,700
Speaker 2: More pie, less cookies.

100
00:05:47,940 –> 00:05:48,500
Speaker 3: Exactly.

101
00:05:48,520 –> 00:05:49,799
Speaker 4: Oh, look at that.

102
00:05:49,839 –> 00:05:52,480
Speaker 3: We didn’t even write that, folks. You’re about to be

103
00:05:52,520 –> 00:05:54,480
Speaker 3: in for a real treat. We’re going to bring Andrew

104
00:05:54,520 –> 00:05:56,900
Speaker 3: Lipsman onto the show, who many of you probably know

105
00:05:56,960 –> 00:05:59,630
Speaker 3: from his eMarketer days. He’s been the voice of our

106
00:05:59,730 –> 00:06:02,830
Speaker 3: industry from an analyst perspective. He’s now gone out on

107
00:06:02,870 –> 00:06:04,930
Speaker 3: his own. We’re so proud of you, Andrew, as an

108
00:06:05,010 –> 00:06:08,750
Speaker 3: independent analyst and consultant. But this is an individual who

109
00:06:08,860 –> 00:06:12,260
Speaker 3: really has a holistic view of what’s happening in the

110
00:06:12,360 –> 00:06:18,719
Speaker 3: ecosystem of retail media. And we now will hear from him. Congrats, Andrew,

111
00:06:18,779 –> 00:06:19,180
Speaker 3: and hello.

112
00:06:19,670 –> 00:06:21,910
Speaker 1: Thank you so much, Rachel, Sarah. Great to be with

113
00:06:21,930 –> 00:06:22,250
Speaker 1: you today.

114
00:06:22,570 –> 00:06:26,590
Speaker 3: Well, you’ve done a really amazing job, I feel. First

115
00:06:26,610 –> 00:06:30,040
Speaker 3: of all, jumping on the wave of retail media and

116
00:06:30,330 –> 00:06:33,640
Speaker 3: riding it to the future for the industry. I feel

117
00:06:33,660 –> 00:06:36,020
Speaker 3: like a lot of your coverage, at least in the

118
00:06:36,040 –> 00:06:38,950
Speaker 3: last year, was very much focused on that. And so

119
00:06:39,000 –> 00:06:42,380
Speaker 3: since you’ve been so involved in the evolution of what’s

120
00:06:42,400 –> 00:06:48,000
Speaker 3: happening in retail media, here we are, early 2024, our listeners,

121
00:06:48,140 –> 00:06:54,140
Speaker 3: our brands, retailers, platforms, technology partners, what’s your perspective on

122
00:06:54,180 –> 00:06:56,060
Speaker 3: how retail media will play out this year?

123
00:06:56,279 –> 00:07:00,520
Speaker 1: Yeah, when I started at eMarketer in 2018, I’d say

124
00:07:00,580 –> 00:07:03,240
Speaker 1: retail media was not on my radar at all. I

125
00:07:03,260 –> 00:07:06,660
Speaker 1: was covering retail and eCommerce. Early on, it was about 10%

126
00:07:06,660 –> 00:07:08,680
Speaker 1: of my coverage, but I saw a trend that I

127
00:07:08,779 –> 00:07:11,960
Speaker 1: knew was going to become something so much bigger. By 2023,

128
00:07:11,940 –> 00:07:15,880
Speaker 1: it was 80% of my time. So I’ve fully leaned

129
00:07:15,920 –> 00:07:19,060
Speaker 1: into it and continued to do so at my new company.

130
00:07:19,120 –> 00:07:22,430
Speaker 1: So 2024, I think is a huge inflection point. In

131
00:07:22,450 –> 00:07:25,150
Speaker 1: the space, it’s really a transition between what I call

132
00:07:25,190 –> 00:07:29,210
Speaker 1: retail media 1.0 and retail media 2.0. The 1.0 era

133
00:07:29,230 –> 00:07:31,690
Speaker 1: was kind of the easy money of search. Most of

134
00:07:31,730 –> 00:07:34,120
Speaker 1: that value flowed to Amazon, but certainly there were some

135
00:07:34,130 –> 00:07:38,400
Speaker 1: other key players. 2024 is when some other aspects of

136
00:07:38,460 –> 00:07:41,619
Speaker 1: retail media really start to kick off. The 2.0 era

137
00:07:41,820 –> 00:07:44,820
Speaker 1: is what I call moving up the funnel and into

138
00:07:44,840 –> 00:07:48,600
Speaker 1: the store. And so there are two key things that

139
00:07:48,640 –> 00:07:50,600
Speaker 1: I think are going to be at the forefront of

140
00:07:50,600 –> 00:07:55,550
Speaker 1: 2024 conversation. The first is the shift into offsite ads.

141
00:07:56,110 –> 00:07:59,990
Speaker 1: And then maybe even more specifically within that, streaming TV. Actually,

142
00:08:00,050 –> 00:08:03,090
Speaker 1: eMarketer just came out with their latest forecast that has

143
00:08:03,930 –> 00:08:07,630
Speaker 1: streaming TV powered by retail media going from 0.8 billion

144
00:08:07,850 –> 00:08:09,570
Speaker 1: in 2023 to 3.6 billion. So that’s a pretty big

145
00:08:09,590 –> 00:08:14,890
Speaker 1: step change in one year. The other one is the

146
00:08:14,950 –> 00:08:18,470
Speaker 1: emergence of in-store retail media. The ad dollars are not

147
00:08:18,490 –> 00:08:20,010
Speaker 1: going to float into it in a big way, but

148
00:08:20,250 –> 00:08:22,030
Speaker 1: this is the year that we’re going to see digital

149
00:08:22,090 –> 00:08:24,500
Speaker 1: screens really start to light up a lot of stores.

150
00:08:24,840 –> 00:08:30,680
Speaker 1: We’ve seen big initiatives from Walmart, Kroger, Tesco, Hy-Vee. So

151
00:08:31,020 –> 00:08:32,980
Speaker 1: I think it’s going to be much more commonplace to

152
00:08:33,020 –> 00:08:35,900
Speaker 1: see digital signage, and that’s going to start to really

153
00:08:35,960 –> 00:08:37,360
Speaker 1: change the equation of retail media.

154
00:08:37,740 –> 00:08:40,579
Speaker 3: On the topic of off-site, obviously that’s near and dear

155
00:08:40,620 –> 00:08:43,210
Speaker 3: to my heart at Micmac. And, you know, we’ve had

156
00:08:43,230 –> 00:08:47,050
Speaker 3: a lot of brands play around in offsite retail media,

157
00:08:47,470 –> 00:08:50,270
Speaker 3: whether it was via someone like the Trade Desk or Roku.

158
00:08:51,429 –> 00:08:54,569
Speaker 3: And what we’ve seen from our seat is that brands

159
00:08:54,610 –> 00:08:58,550
Speaker 3: are really questioning if the premium CPM is worth it

160
00:08:58,960 –> 00:09:02,670
Speaker 3: versus just buying the inventory on their own. Have you

161
00:09:02,770 –> 00:09:05,500
Speaker 3: heard similar challenges when it comes to offsite?

162
00:09:05,960 –> 00:09:08,939
Speaker 1: I hear it across the advertising ecosystem. And this is

163
00:09:08,980 –> 00:09:11,500
Speaker 1: a place where I think I’m somewhat biased, maybe because

164
00:09:11,520 –> 00:09:14,079
Speaker 1: I’m not spending the money. There is a bias towards

165
00:09:14,179 –> 00:09:16,880
Speaker 1: cheap reach. The issue is that sometimes you get what

166
00:09:16,900 –> 00:09:19,480
Speaker 1: you pay for with cheap reach. In the worst cases,

167
00:09:19,500 –> 00:09:22,600
Speaker 1: you’re not even reaching actual humans. I do think that

168
00:09:22,620 –> 00:09:26,089
Speaker 1: sometimes the premium CPMs are worth it, even though it

169
00:09:26,120 –> 00:09:29,870
Speaker 1: doesn’t immediately pencil out in terms of return on ad spend.

170
00:09:30,410 –> 00:09:32,819
Speaker 1: I think you’re paying for effectiveness and a lot of

171
00:09:32,840 –> 00:09:36,560
Speaker 1: the effectiveness that can occur in those premium environments isn’t

172
00:09:36,700 –> 00:09:40,280
Speaker 1: always captured right away through an immediate sale. Sometimes it’s

173
00:09:40,360 –> 00:09:43,819
Speaker 1: longer term brand equity or the value over time. This

174
00:09:43,860 –> 00:09:46,580
Speaker 1: is the reality of spending money. You’ve got to weigh

175
00:09:46,860 –> 00:09:50,070
Speaker 1: cost against effectiveness. I think at the end of the day,

176
00:09:50,090 –> 00:09:53,270
Speaker 1: there’s trade-offs and most brands should probably find a healthy

177
00:09:53,330 –> 00:09:54,230
Speaker 1: mix between the two.

178
00:09:54,429 –> 00:09:57,089
Speaker 3: And do you have a hunch why the growth is

179
00:09:57,150 –> 00:10:01,240
Speaker 3: projected to occur in streaming TV versus off? search or social?

180
00:10:01,640 –> 00:10:03,959
Speaker 1: It’s both. There’s really a step change in all of

181
00:10:04,059 –> 00:10:06,660
Speaker 1: offsite this year. It’s just a bit more dramatic in

182
00:10:06,700 –> 00:10:08,780
Speaker 1: streaming TV. And I think a big part of that is, listen,

183
00:10:08,800 –> 00:10:11,760
Speaker 1: it was less than a billion dollars in 2023. There

184
00:10:11,780 –> 00:10:14,380
Speaker 1: was a lot of connecting of the pipes between retailers

185
00:10:14,440 –> 00:10:17,240
Speaker 1: and the media companies. Now that those things are coming

186
00:10:17,280 –> 00:10:21,120
Speaker 1: to fruition and obviously Amazon’s a big player here. Amazon

187
00:10:21,420 –> 00:10:23,940
Speaker 1: is opening up a lot more inventory on freebie and

188
00:10:24,000 –> 00:10:26,920
Speaker 1: prime video. So that’s going to help it flourish. But

189
00:10:27,070 –> 00:10:31,030
Speaker 1: offsite across open web programmatic and certainly on the big

190
00:10:31,090 –> 00:10:33,730
Speaker 1: platforms is also really gaining steam.

191
00:10:34,730 –> 00:10:39,840
Speaker 3: Okay. So your bets for 2024 are focused on offsite

192
00:10:39,960 –> 00:10:43,679
Speaker 3: and in-store. Let’s pretend now we’re three to five years

193
00:10:43,740 –> 00:10:47,520
Speaker 3: into the future. Then what happens for retail media?

194
00:10:48,040 –> 00:10:49,730
Speaker 1: If I cast it out a few years into the future,

195
00:10:49,750 –> 00:10:52,310
Speaker 1: I think we’re at a point where TV, as we

196
00:10:52,350 –> 00:10:57,189
Speaker 1: know it today, has been completely revolutionized by the introduction

197
00:10:57,230 –> 00:11:00,550
Speaker 1: of closed loop measurement. TV, you know, this will be CTV,

198
00:11:01,010 –> 00:11:04,150
Speaker 1: but it’s always been the least measurable medium. And now

199
00:11:04,170 –> 00:11:07,690
Speaker 1: you’re bringing measurement into the equation. And particularly in CPG

200
00:11:07,990 –> 00:11:10,969
Speaker 1: and consumer brands, when you have the high frequency of

201
00:11:11,070 –> 00:11:14,510
Speaker 1: purchase and the transaction volume, that’s where you’re going to

202
00:11:14,550 –> 00:11:18,740
Speaker 1: see it start to really gain steam. In-store retail media,

203
00:11:18,820 –> 00:11:21,660
Speaker 1: I said, we’re going to start seeing screens in-store, but

204
00:11:21,679 –> 00:11:23,700
Speaker 1: it’s going to take time for the ad market to

205
00:11:23,740 –> 00:11:26,260
Speaker 1: get going. There’s so many other factors that have to

206
00:11:26,460 –> 00:11:29,540
Speaker 1: kind of happen first to make ad buying easier. You

207
00:11:29,580 –> 00:11:33,809
Speaker 1: need more measurement. So the inflection point for this market

208
00:11:33,850 –> 00:11:37,350
Speaker 1: really probably happens something closer to five years out, but

209
00:11:37,550 –> 00:11:39,569
Speaker 1: I believe it’s going to be the next major media channel.

210
00:11:39,610 –> 00:11:42,989
Speaker 1: And that’s where national media, advertisers are going to put

211
00:11:43,210 –> 00:11:46,350
Speaker 1: major investments. So we’re going to see that as we

212
00:11:46,410 –> 00:11:49,370
Speaker 1: think about five years out. The one last wrinkle that

213
00:11:49,550 –> 00:11:52,910
Speaker 1: is really interesting to me, particularly in CPG, is a

214
00:11:53,590 –> 00:11:56,330
Speaker 1: new media format that exists today, but we don’t talk

215
00:11:56,390 –> 00:11:58,570
Speaker 1: about it in the context of retail media, and that

216
00:11:58,610 –> 00:12:01,030
Speaker 1: is product samples. I think of it as the most

217
00:12:01,110 –> 00:12:03,469
Speaker 1: effective form of media because you actually get to try

218
00:12:03,490 –> 00:12:05,880
Speaker 1: the product. It doesn’t work in a lot of categories,

219
00:12:06,000 –> 00:12:09,819
Speaker 1: but it certainly does in CPG, health and beauty. And

220
00:12:09,840 –> 00:12:13,360
Speaker 1: I think that It’s really going to revolutionize a lot

221
00:12:13,400 –> 00:12:16,260
Speaker 1: of things in how we think about return on ad spend,

222
00:12:16,500 –> 00:12:20,490
Speaker 1: because today sampling programs are just thought of almost like TV.

223
00:12:20,510 –> 00:12:22,810
Speaker 1: You throw some budget at it and you see what happens.

224
00:12:23,230 –> 00:12:26,030
Speaker 1: But we have measurability around it because samples can be

225
00:12:26,070 –> 00:12:29,880
Speaker 1: introduced to people based on their loyalty card data or

226
00:12:29,940 –> 00:12:32,319
Speaker 1: through online transactions. And then you can see how do

227
00:12:32,360 –> 00:12:35,970
Speaker 1: they purchase that brand over time. And so I’m really

228
00:12:36,020 –> 00:12:39,970
Speaker 1: excited about what attribution is going to do for product sampling.

229
00:12:39,990 –> 00:12:41,990
Speaker 1: So I think it becomes a really critical piece to

230
00:12:42,510 –> 00:12:44,370
Speaker 1: the full funnel retail media strategy.

231
00:12:44,390 –> 00:12:46,710
Speaker 4: I totally agree. And one of the things that we’ve

232
00:12:46,750 –> 00:12:51,010
Speaker 4: really seen probably within maybe six months of COVID hitting

233
00:12:51,090 –> 00:12:53,949
Speaker 4: and the whole Click and Collect boom taking off was

234
00:12:53,990 –> 00:12:57,600
Speaker 4: how quickly Walmart adopted product sampling as part of the

235
00:12:57,620 –> 00:13:00,060
Speaker 4: Click and Collect program and started to get a whole

236
00:13:00,080 –> 00:13:02,840
Speaker 4: bunch of folks in on that. Do you think that

237
00:13:03,580 –> 00:13:06,280
Speaker 4: that actually had its moment and that moment should have

238
00:13:06,340 –> 00:13:09,849
Speaker 4: lasted longer? Because now that I’m thinking about it, I

239
00:13:09,880 –> 00:13:12,910
Speaker 4: haven’t seen product sampling in Walmart clicking slides in a while.

240
00:13:13,550 –> 00:13:17,150
Speaker 4: Is that something that you think either should be coming

241
00:13:17,190 –> 00:13:19,870
Speaker 4: back sooner or coming back now? Or you just know

242
00:13:19,910 –> 00:13:21,850
Speaker 4: that this is something that is on the come?

243
00:13:22,170 –> 00:13:24,850
Speaker 1: It’s coming back. There have been starts and stops. And

244
00:13:24,910 –> 00:13:26,930
Speaker 1: sometimes it just takes a while for our market to

245
00:13:26,970 –> 00:13:31,439
Speaker 1: really develop and materialize and realize its potential. We saw

246
00:13:31,460 –> 00:13:34,260
Speaker 1: that with grocery delivery in the early days of Web 1.0.

247
00:13:34,260 –> 00:13:35,679
Speaker 1: You mean Webvan?

248
00:13:36,000 –> 00:13:36,700
Speaker 4: Yeah.

249
00:13:36,920 –> 00:13:39,730
Speaker 1: It didn’t work out then. It was too early. So

250
00:13:39,770 –> 00:13:42,150
Speaker 1: some of these things are too early. All the value

251
00:13:42,170 –> 00:13:45,650
Speaker 1: that’s behind it isn’t there yet. I think it’s ready

252
00:13:45,890 –> 00:13:49,390
Speaker 1: for prime time again. Amazon had Amazon Prime samples. Nobody

253
00:13:49,410 –> 00:13:52,340
Speaker 1: even remembers this. And they pulled it back. I suspect

254
00:13:52,440 –> 00:13:56,820
Speaker 1: Amazon will unveil Prime samples again. They like to tinker

255
00:13:56,840 –> 00:13:59,140
Speaker 1: behind the scenes and then go back to market. So

256
00:13:59,820 –> 00:14:01,439
Speaker 1: Now that Walmart is doing it, and they made a

257
00:14:01,480 –> 00:14:04,600
Speaker 1: major announcement last year about product sampling initiatives, and you’re

258
00:14:04,620 –> 00:14:07,160
Speaker 1: seeing it in Sam’s Club and other stores. I think

259
00:14:07,179 –> 00:14:09,300
Speaker 1: we’re going to see this start to catch.

260
00:14:09,160 –> 00:14:13,140
Speaker 4: A wave again. It’s a great space. And frankly, there

261
00:14:13,179 –> 00:14:16,500
Speaker 4: are brands that are really still struggling on how to

262
00:14:16,580 –> 00:14:21,490
Speaker 4: adapt to their new product launches, particularly in grocery. How

263
00:14:21,520 –> 00:14:25,470
Speaker 4: to do that today versus the earlier way, which was

264
00:14:25,530 –> 00:14:28,480
Speaker 4: in store sampling. So if you can’t get people necessarily

265
00:14:28,520 –> 00:14:30,680
Speaker 4: directly in store, how do you get them around the

266
00:14:30,700 –> 00:14:33,650
Speaker 4: store or in some other method for that last mile?

267
00:14:34,090 –> 00:14:36,070
Speaker 4: The initial question I wanted to ask you was going

268
00:14:36,090 –> 00:14:39,010
Speaker 4: back to the CTV conversation, because that’s very near and

269
00:14:39,030 –> 00:14:41,710
Speaker 4: dear to my heart, coming from a media background, but

270
00:14:41,750 –> 00:14:47,160
Speaker 4: now merging digital shelf data with CTV activation. Do you

271
00:14:47,200 –> 00:14:50,460
Speaker 4: think this is going to be an organizational barrier to

272
00:14:50,560 –> 00:14:52,320
Speaker 4: hitting the spread that you’re talking about in the next

273
00:14:52,360 –> 00:14:55,260
Speaker 4: few years? Or is this just something that, is it organizational?

274
00:14:55,300 –> 00:14:56,330
Speaker 2: Is it educational?

275
00:14:56,840 –> 00:14:59,260
Speaker 4: What do you think is a barrier to getting these

276
00:14:59,280 –> 00:15:03,200
Speaker 4: types better connected just in terms of brain space as

277
00:15:03,280 –> 00:15:05,020
Speaker 4: well as adoption?

278
00:15:05,620 –> 00:15:08,540
Speaker 3: I can concur. A lot of outreach from customers asking

279
00:15:08,570 –> 00:15:09,710
Speaker 3: me for vendors in the space.

280
00:15:09,970 –> 00:15:12,350
Speaker 1: Yeah, I mean, there are dollars flowing into CTV, right?

281
00:15:12,390 –> 00:15:16,290
Speaker 1: Everyone understands that’s the future. But the context is linear

282
00:15:16,310 –> 00:15:19,270
Speaker 1: and traditional TV. It’s an industry, as we know, that

283
00:15:19,370 –> 00:15:22,230
Speaker 1: tends to move very slowly. So there are new aspects

284
00:15:22,290 –> 00:15:26,040
Speaker 1: to CTV. buying new platforms. Amazon is where a lot

285
00:15:26,060 –> 00:15:28,840
Speaker 1: of the inventory is, but traditional TV buyers are going

286
00:15:28,860 –> 00:15:31,440
Speaker 1: to find that foreign in many ways. So some of

287
00:15:31,500 –> 00:15:34,320
Speaker 1: it is just, it’s going to take time to acclimate.

288
00:15:34,460 –> 00:15:38,070
Speaker 1: We’ve had an inventory constraint up until this point in time, right?

289
00:15:38,140 –> 00:15:40,070
Speaker 1: Last year, all of a sudden, there’s a lot more

290
00:15:40,110 –> 00:15:43,330
Speaker 1: CTV inventory that’s opened up and then even more inventory

291
00:15:43,430 –> 00:15:46,350
Speaker 1: that is going to be backed by closed loop attribution

292
00:15:46,410 –> 00:15:49,630
Speaker 1: from retail media networks. So I think some of the

293
00:15:49,670 –> 00:15:53,080
Speaker 1: key enablers have come into place now. But some of

294
00:15:53,100 –> 00:15:56,239
Speaker 1: how TV budgets are going to continue to move will

295
00:15:56,260 –> 00:15:58,320
Speaker 1: probably be a little bit slower than we would like.

296
00:15:58,660 –> 00:16:01,400
Speaker 3: So, you know, there’s this key theme that’s running through everything,

297
00:16:01,460 –> 00:16:05,610
Speaker 3: which essentially you’re saying everything now will be measurable as

298
00:16:06,130 –> 00:16:10,710
Speaker 3: retailers monetize their data. We’re also sitting in this interesting

299
00:16:10,790 –> 00:16:13,570
Speaker 3: moment in the ecosystem that we’ve all been waiting for

300
00:16:13,650 –> 00:16:19,660
Speaker 3: since essentially summer of 2019, which is the deprecation of cookies.

301
00:16:20,330 –> 00:16:24,070
Speaker 3: So obviously, Apple makes changes in iOS 14, and then

302
00:16:24,270 –> 00:16:28,090
Speaker 3: Google needs to fight back. And Google announces that, hey,

303
00:16:28,150 –> 00:16:32,350
Speaker 3: in the year January of 2024, we’ll begin to deprecate cookies.

304
00:16:32,830 –> 00:16:36,830
Speaker 3: And here we are. And often the deprecation of cookies

305
00:16:37,070 –> 00:16:42,030
Speaker 3: makes even retail media more favorable to the ecosystem because

306
00:16:42,050 –> 00:16:45,340
Speaker 3: it doesn’t rely on cookies. I’m curious your perspective on

307
00:16:46,000 –> 00:16:50,490
Speaker 3: of this frenemy relationship that will continue to evolve between

308
00:16:50,610 –> 00:16:54,270
Speaker 3: the retailers and the platforms. Because what the retailers provide

309
00:16:54,370 –> 00:16:57,430
Speaker 3: is attribution that doesn’t rely on cookies. And then what

310
00:16:57,490 –> 00:17:02,940
Speaker 3: the platforms provide is inventory at scale. Yet everyone’s competing

311
00:17:02,980 –> 00:17:06,440
Speaker 3: for the same ad dollars. So how is this going

312
00:17:06,460 –> 00:17:06,740
Speaker 3: to work?

313
00:17:07,000 –> 00:17:09,379
Speaker 1: Let me first talk about the inflection point. That is

314
00:17:09,440 –> 00:17:14,459
Speaker 1: happening in 2024 as cookies deprecate. And inventory is going

315
00:17:14,480 –> 00:17:16,730
Speaker 1: to need to be powered by data. And it turns

316
00:17:16,790 –> 00:17:19,310
Speaker 1: out retail media data is, I think has always been

317
00:17:19,350 –> 00:17:23,250
Speaker 1: better data. So we’re going to see that really change today.

318
00:17:23,770 –> 00:17:26,990
Speaker 1: It’s about 10% of display ads are powered by retail media.

319
00:17:27,540 –> 00:17:30,320
Speaker 1: There’s potentially a future when the majority of them are

320
00:17:30,359 –> 00:17:34,720
Speaker 1: powered by retail media. And we’ve already seen something like

321
00:17:34,760 –> 00:17:36,780
Speaker 1: that happen in the past. And this was the rise

322
00:17:36,800 –> 00:17:40,760
Speaker 1: of programmatic where programmatic went from, you know, powering very

323
00:17:40,800 –> 00:17:43,440
Speaker 1: few display ads over a few year time horizon to

324
00:17:43,619 –> 00:17:45,919
Speaker 1: the vast majority. And now it’s about 90% of all

325
00:17:45,960 –> 00:17:49,240
Speaker 1: display ads are programmatic. I think that’s the future of

326
00:17:49,440 –> 00:17:51,840
Speaker 1: retail media. I have to credit my friend, Aaron Fetters,

327
00:17:51,900 –> 00:17:55,419
Speaker 1: who sort of raised this point. And I think it

328
00:17:55,440 –> 00:17:57,310
Speaker 1: was a really good one that this is the reality

329
00:17:57,330 –> 00:17:59,990
Speaker 1: of the future of the open web and a lot

330
00:18:00,050 –> 00:18:04,449
Speaker 1: of platform inventory. To the point about this tussle between

331
00:18:04,590 –> 00:18:08,830
Speaker 1: the retailers and platforms. Yeah, it introduces some interesting dynamics

332
00:18:08,930 –> 00:18:12,149
Speaker 1: where they want that profitable revenue and who gets it.

333
00:18:12,500 –> 00:18:15,220
Speaker 1: And it really comes down to kind of who owns,

334
00:18:16,010 –> 00:18:20,630
Speaker 1: who’s the entry point for that advertising buy. What’s interesting

335
00:18:20,650 –> 00:18:24,410
Speaker 1: is you think about a platform like a Facebook, they

336
00:18:24,450 –> 00:18:27,919
Speaker 1: are used to being where those transactions happen and they’re

337
00:18:28,180 –> 00:18:32,360
Speaker 1: facing a reality where in essence, they’ve lost a lot

338
00:18:32,400 –> 00:18:36,600
Speaker 1: of data signal through the iOS changes and cookie deprecation. So,

339
00:18:38,220 –> 00:18:41,300
Speaker 1: There’s still the biggest pool of display inventory on the web,

340
00:18:41,359 –> 00:18:46,050
Speaker 1: but does Facebook increasingly become dumb inventory where they don’t

341
00:18:46,190 –> 00:18:49,210
Speaker 1: own the measurement and the measurement comes from the retail

342
00:18:49,250 –> 00:18:51,909
Speaker 1: media network, but they still have all that inventory? It’s

343
00:18:51,930 –> 00:18:54,949
Speaker 1: a really interesting dynamic and it’s going to create new

344
00:18:55,010 –> 00:18:58,330
Speaker 1: power dynamics that we haven’t had in some time when

345
00:18:58,780 –> 00:19:01,220
Speaker 1: Google and Facebook pretty much owned everything.

346
00:19:01,640 –> 00:19:04,540
Speaker 3: When do you think regulation comes in? Because here’s a

347
00:19:04,580 –> 00:19:08,090
Speaker 3: retailer that’s playing all sides of the fence. And don’t

348
00:19:08,109 –> 00:19:11,010
Speaker 3: you think that a governing body like the FTC will

349
00:19:11,030 –> 00:19:14,129
Speaker 3: get involved to try to regulate this and create opportunity

350
00:19:14,190 –> 00:19:15,869
Speaker 3: for multiple people to compete?

351
00:19:16,170 –> 00:19:19,810
Speaker 1: I’m not good at predicting this, but the calls for

352
00:19:19,830 –> 00:19:24,010
Speaker 1: FTC intervention have previously been for Facebook and Google. And

353
00:19:24,350 –> 00:19:25,950
Speaker 1: this will, I think, be the first year that they’re

354
00:19:25,990 –> 00:19:29,850
Speaker 1: actually combined for less than 50% of digital ad spend.

355
00:19:30,510 –> 00:19:32,850
Speaker 1: So this is the nature of the game where it’s

356
00:19:32,869 –> 00:19:35,490
Speaker 1: not going to be dominated by a couple of players anymore.

357
00:19:36,090 –> 00:19:39,690
Speaker 1: There are a lot more seats at the table. So yeah,

358
00:19:39,770 –> 00:19:43,180
Speaker 1: a retailer now has a pretty interesting dynamic at play,

359
00:19:43,700 –> 00:19:46,940
Speaker 1: but who does the FTC go after? Amazon is right

360
00:19:46,980 –> 00:19:49,750
Speaker 1: now dominating retail media, but this is actually a moment

361
00:19:49,810 –> 00:19:52,609
Speaker 1: when the omni-channel retailers are going to start to gain

362
00:19:52,650 –> 00:19:55,890
Speaker 1: share and become much more important to the ecosystem. So

363
00:19:56,330 –> 00:19:58,390
Speaker 1: I think that’s healthy when you have a lot more

364
00:19:58,430 –> 00:20:00,490
Speaker 1: power players and all of them are wrestling for that

365
00:20:00,670 –> 00:20:01,340
Speaker 1: power position.

366
00:20:01,820 –> 00:20:07,379
Speaker 2: So let’s talk about the connectivity between CTV and commerce

367
00:20:07,440 –> 00:20:10,930
Speaker 2: and retail media. the budgets are still held very separately.

368
00:20:11,010 –> 00:20:14,190
Speaker 2: And even the knowledge that you can buy CTV based

369
00:20:14,250 –> 00:20:17,690
Speaker 2: on digital shelf signals is so nascent and yet has

370
00:20:17,730 –> 00:20:21,310
Speaker 2: such potential. Do we have an education barrier, an org

371
00:20:21,330 –> 00:20:23,790
Speaker 2: design barrier, no barrier?

372
00:20:23,810 –> 00:20:24,410
Speaker 4: What do you think?

373
00:20:24,869 –> 00:20:27,149
Speaker 1: I mean, retail media, that’s the thing about it is

374
00:20:27,230 –> 00:20:30,970
Speaker 1: I think it ultimately touches everything. It touches the entire ecosystem.

375
00:20:31,060 –> 00:20:33,560
Speaker 1: And that’s why I think it’s probably the most significant

376
00:20:33,619 –> 00:20:36,879
Speaker 1: trend that certainly that we’ve seen in some time in

377
00:20:36,900 –> 00:20:39,420
Speaker 1: marketing and advertising. And I ultimately think is going to

378
00:20:39,460 –> 00:20:43,440
Speaker 1: be the biggest and most significant trend perhaps ever because

379
00:20:43,460 –> 00:20:46,240
Speaker 1: of how far reaching it is. Where does it end? No,

380
00:20:46,300 –> 00:20:47,800
Speaker 1: it’s going to bleed into all these things. It’s going

381
00:20:47,820 –> 00:20:51,000
Speaker 1: to take budget from shopper. It’s going to maybe reconfigure

382
00:20:51,040 –> 00:20:52,200
Speaker 1: how we think about trade.

383
00:20:52,720 –> 00:20:55,140
Speaker 2: So here’s my question. Is it taking budget from shopper

384
00:20:55,900 –> 00:21:00,909
Speaker 2: or is it just shopper is retail media? Is it

385
00:21:01,580 –> 00:21:04,680
Speaker 2: CTV is, it’s kind of like, again, 10, 15 years ago,

386
00:21:04,700 –> 00:21:07,070
Speaker 2: we were calling things digital marketing. Do we call things

387
00:21:07,190 –> 00:21:11,770
Speaker 2: digital marketing anymore? Is streaming TV, TV, or, or is

388
00:21:11,830 –> 00:21:15,210
Speaker 2: it still digital? Where do you see the nomenclature beginning

389
00:21:15,250 –> 00:21:15,630
Speaker 2: and ending?

390
00:21:15,690 –> 00:21:16,030
Speaker 5: I guess.

391
00:21:16,350 –> 00:21:19,110
Speaker 1: I like to keep nomenclature tight. So I think there

392
00:21:19,150 –> 00:21:22,429
Speaker 1: is a room to keep a CTV or streaming TV

393
00:21:22,609 –> 00:21:26,060
Speaker 1: and linear TV separate because they are different. There’s different

394
00:21:26,080 –> 00:21:29,380
Speaker 1: mechanics behind them. I had this conversation 10 plus years

395
00:21:29,420 –> 00:21:32,440
Speaker 1: ago with the rise of mobile. Isn’t mobile just the internet?

396
00:21:32,460 –> 00:21:34,760
Speaker 1: And I said, no, because you have the app ecosystem.

397
00:21:34,920 –> 00:21:38,000
Speaker 1: Everything about how ads are bought and the experience that

398
00:21:38,040 –> 00:21:41,300
Speaker 1: consumers have is very different. So let’s call it mobile.

399
00:21:41,440 –> 00:21:43,600
Speaker 1: So people were trying to kill the word mobile for years.

400
00:21:43,640 –> 00:21:45,879
Speaker 1: And I was like, just don’t do it. Shopper marketing,

401
00:21:45,940 –> 00:21:49,040
Speaker 1: as I think of it, is traditional shopper marketing, but

402
00:21:49,400 –> 00:21:52,199
Speaker 1: that’s going to bleed into digital in-store retail media. And

403
00:21:52,220 –> 00:21:53,650
Speaker 1: some of the budgets are going to come from there.

404
00:21:54,070 –> 00:21:56,810
Speaker 1: Where do the budgets come from? The answer is everywhere.

405
00:21:57,240 –> 00:22:01,340
Speaker 1: It’s disproportionately getting incremental budget, retail media is, but budgets

406
00:22:01,359 –> 00:22:03,139
Speaker 1: are going to come out of TV. They’re going to

407
00:22:03,180 –> 00:22:04,980
Speaker 1: come out of shopper. They’re going to come out of trade.

408
00:22:05,240 –> 00:22:07,240
Speaker 1: They’re going to come out of Facebook and Google. It’s

409
00:22:07,260 –> 00:22:09,659
Speaker 1: a little bit of everywhere. And let’s be honest, to

410
00:22:09,700 –> 00:22:14,359
Speaker 1: grow from $ 45 billion to $ 110 billion by 2027, it’s

411
00:22:14,380 –> 00:22:16,050
Speaker 1: going to have to come from everywhere.

412
00:22:16,590 –> 00:22:19,090
Speaker 3: I think an elephant in the room that we’re not

413
00:22:19,130 –> 00:22:20,970
Speaker 3: talking about and probably could be a whole different episode

414
00:22:21,770 –> 00:22:25,430
Speaker 3: is the reality is within these brand manufacturers, Retail media

415
00:22:25,450 –> 00:22:27,730
Speaker 3: has to fall within a particular part of their P &

416
00:22:27,230 –> 00:22:31,410
Speaker 3: L for tax purposes. Because of the relationship of retailers,

417
00:22:31,470 –> 00:22:35,030
Speaker 3: it’s not as straightforward. We are coming up against our

418
00:22:35,070 –> 00:22:37,820
Speaker 3: famous last question. And I’ve known you for years and

419
00:22:37,840 –> 00:22:39,620
Speaker 3: I have no idea how you’re going to answer this,

420
00:22:40,060 –> 00:22:42,400
Speaker 3: which is what’s the bravest thing you’ve ever done?

421
00:22:43,160 –> 00:22:45,880
Speaker 1: So I feel like people on this show have some

422
00:22:46,020 –> 00:22:49,629
Speaker 1: really fascinating things to that they’ve done. For me, I

423
00:22:49,830 –> 00:22:52,369
Speaker 1: don’t know, it’s starting my own company. This feels pretty brave,

424
00:22:52,630 –> 00:22:54,730
Speaker 1: venturing into the known. I say this as somebody who

425
00:22:55,250 –> 00:22:58,030
Speaker 1: is not a natural risk taker. So it’s been really fun.

426
00:22:58,070 –> 00:23:01,620
Speaker 1: It’s really exciting, but also venturing into the unknown. But

427
00:23:02,100 –> 00:23:04,639
Speaker 1: I was also thinking about this recently. I love the

428
00:23:04,720 –> 00:23:07,419
Speaker 1: early career brave moments. And I have one that I’d

429
00:23:07,720 –> 00:23:10,660
Speaker 1: love to bring up to answer this question. And that

430
00:23:10,700 –> 00:23:13,370
Speaker 1: was the first major speaking engagement that I ever had

431
00:23:13,960 –> 00:23:16,520
Speaker 1: about a dozen or so years ago. I was speaking

432
00:23:16,560 –> 00:23:19,439
Speaker 1: to a room at Scott Galloway’s L2 Think Tank. It

433
00:23:19,480 –> 00:23:22,800
Speaker 1: was like 200 people in the room. I was so nervous.

434
00:23:23,100 –> 00:23:25,359
Speaker 1: I was so nervous for it. I get into the

435
00:23:25,400 –> 00:23:28,159
Speaker 1: room and Scott Galloway kicks off the day and he

436
00:23:28,200 –> 00:23:30,620
Speaker 1: does what Scott Galloway does. And he’s an amazing speaker

437
00:23:30,640 –> 00:23:33,470
Speaker 1: and presenter and kicks it off for 15 minutes. And

438
00:23:33,510 –> 00:23:35,830
Speaker 1: I’m kind of wowed by this. And then he introduces

439
00:23:35,850 –> 00:23:39,970
Speaker 1: a keynote speaker who is his good friend and finance

440
00:23:40,050 –> 00:23:46,140
Speaker 1: professor at NYU, Aswath Damodaran, who somehow put Scott Galloway

441
00:23:46,200 –> 00:23:48,740
Speaker 1: to shame as a speaker. And I think Scott Galloway

442
00:23:48,760 –> 00:23:51,020
Speaker 1: would probably even admit that. I mean, this guy is

443
00:23:51,080 –> 00:23:54,359
Speaker 1: so insightful. He’s got the cadence, the way he talks,

444
00:23:54,420 –> 00:23:56,649
Speaker 1: the body language, everything. I mean, he just kills it.

445
00:23:57,510 –> 00:24:01,250
Speaker 1: And then I come up there and I’m so nervous.

446
00:24:01,410 –> 00:24:03,909
Speaker 1: And I think my voice must’ve been so shaky and

447
00:24:03,970 –> 00:24:06,670
Speaker 1: people is probably that really awkward silence that you get

448
00:24:07,210 –> 00:24:10,520
Speaker 1: at the beginning of a speech when somebody is nervous. And, um,

449
00:24:11,090 –> 00:24:13,290
Speaker 1: it was probably just like dead air. And I remember

450
00:24:13,330 –> 00:24:16,250
Speaker 1: I get a slide or two into the presentation and

451
00:24:16,270 –> 00:24:20,070
Speaker 1: I show my first data, my first insight slide. And

452
00:24:20,190 –> 00:24:22,330
Speaker 1: all of a sudden I see a bunch of phones

453
00:24:22,369 –> 00:24:24,650
Speaker 1: come out and people start taking pictures of the chart.

454
00:24:25,210 –> 00:24:26,990
Speaker 1: Then I get to the next slide and more phones

455
00:24:27,050 –> 00:24:28,510
Speaker 1: come out and people are taking a picture of a

456
00:24:28,530 –> 00:24:31,050
Speaker 1: chart and more and more. And so even though I’m

457
00:24:31,090 –> 00:24:34,080
Speaker 1: sure I was shaky through that whole presentation, it made

458
00:24:34,119 –> 00:24:36,720
Speaker 1: me realize that I had something that I could lean on,

459
00:24:36,760 –> 00:24:39,660
Speaker 1: which was the content and the substance. And so That’s

460
00:24:39,700 –> 00:24:42,480
Speaker 1: something that I’ve carried through my career since then. To

461
00:24:43,140 –> 00:24:45,700
Speaker 1: this day, I still get very nervous to speak, but

462
00:24:45,830 –> 00:24:49,929
Speaker 1: I feel so passionate about what I’m presenting that I

463
00:24:49,970 –> 00:24:51,670
Speaker 1: have to do it. I feel like that was a

464
00:24:51,710 –> 00:24:54,410
Speaker 1: brave moment early in my career that got me to.

465
00:24:54,230 –> 00:24:54,910
Speaker 4: Where I am today.

466
00:24:55,210 –> 00:24:58,350
Speaker 3: I wish I could have been there. Scott Galloway definitely

467
00:24:58,369 –> 00:25:01,050
Speaker 3: has a presence, but so do you. And we’re so

468
00:25:01,090 –> 00:25:04,389
Speaker 3: excited for you. As two fellow entrepreneurs, welcome to the

469
00:25:04,430 –> 00:25:07,180
Speaker 3: inner circle and know that the fun’s just getting started.

470
00:25:07,630 –> 00:25:09,480
Speaker 1: Thank you so much. Great to be here. Thanks for

471
00:25:09,520 –> 00:25:09,780
Speaker 1: having me.

472
00:25:13,250 –> 00:25:16,530
Speaker 3: Well, if you enjoyed this episode on retail media, we

473
00:25:16,930 –> 00:25:19,649
Speaker 3: often talk about retail media on the show, but particular

474
00:25:19,750 –> 00:25:22,520
Speaker 3: episodes to look back to is when we had Charlie

475
00:25:22,560 –> 00:25:25,900
Speaker 3: Chappell from Hershey’s, as well as our friends from Lego,

476
00:25:26,160 –> 00:25:30,000
Speaker 3: Kate Crowley and Luke Sabir for more of an international

477
00:25:30,060 –> 00:25:32,800
Speaker 3: perspective of what’s happening with retail media. And if you

478
00:25:32,859 –> 00:25:35,100
Speaker 3: love hearing from analysts, we got to give a shout

479
00:25:35,200 –> 00:25:37,639
Speaker 3: out to an analyst that we’ve often brought onto the

480
00:25:37,680 –> 00:25:40,480
Speaker 3: show with Sutrita from Forrester, if you want to have

481
00:25:40,500 –> 00:25:43,550
Speaker 3: a better understanding of our global economy. If you enjoy

482
00:25:43,590 –> 00:25:47,230
Speaker 3: Brave Commerce, tell a friend, write a review, post on LinkedIn.

483
00:25:47,550 –> 00:25:49,149
Speaker 3: We appreciate you listening.

484
00:26:05,710 –> 00:26:09,700
Speaker 5: Hi, I’m Jackie Cooper, Global Chief Brand Officer at Edelman

485
00:26:09,720 –> 00:26:12,480
Speaker 5: and the host of Touch of Truth, a new podcast

486
00:26:12,540 –> 00:26:15,990
Speaker 5: launching on the Adweek Podcast Network. My dad gave me

487
00:26:16,030 –> 00:26:19,709
Speaker 5: this incredibly smart piece of advice. Meet everyone once. As

488
00:26:19,750 –> 00:26:22,060
Speaker 5: a result, I’ve met some of the most fascinating and

489
00:26:22,130 –> 00:26:25,240
Speaker 5: inspiring people on the planet. Now on Touch of Truth,

490
00:26:25,440 –> 00:26:28,719
Speaker 5: we’re coming centre stage and sharing the mic to experience

491
00:26:28,760 –> 00:26:31,610
Speaker 5: stories of truth, insights and visions for the future that

492
00:26:31,630 –> 00:26:34,109
Speaker 5: will challenge your way of thinking. Touch of Truth is

493
00:26:34,170 –> 00:26:37,690
Speaker 5: available wherever you listen to podcasts. New episodes come out

494
00:26:37,890 –> 00:26:39,940
Speaker 5: every Tuesday. I do hope to see you there.