Last week at NRF, I co-hosted an intimate, salon-style private dinner with the sponsor of this podcast, Mirakl Ads, bringing together senior leaders from major retailers. Away from the main stage and marketing hype, the conversation picked up where the conferences usually leave off — candid, practical, and deeply honest discussions about what’s actually working (and not working) in retail media right now.

In this episode, I’m sharing anonymized insights from that dinner, including why in-store retail media has a built-in paradox, how retailers are really thinking about building versus buying their retail media tech stacks, and how evolving shopper behavior is reshaping the in-store experience. No silver bullets here, but plenty of real-world perspective you won’t hear on an earnings call!

This episode is sponsored by Mirakl Ads

Timeline

[00:48] Why the real value of NRF happens off-stage, and why private dinners matter more than keynotes

[01:30] The in-store media paradox: when shoppers themselves become the scalability problem

[02:58] Why placement matters more than impressions for in-store retail media

[03:30] Build vs. buy vs. partner: a “marry, kiss, or kill” moment for retail media tech stacks

[04:43] The “Uber model” of retail media tech: best-of-breed partnerships over monolithic platforms

[06:14] How mobile pre-shopping, social discovery, and AI are redefining the in-store customer journey

Links & Resources

• Read my related articles:
  • I'm back (Retail Media Breakfast Club blog post)
  • At NRF, retailers say ‘bring on all the bots’ (The Drum)
  • Costco just revealed its entire retail media tech stack. Why? (The Drum)
• Join me and Jordan Witmer from Salt XC at 11am Thursday Jan 22 for a LinkedIn Live on how big brands and small brands MUST approach retail media differently. We'll be answering questions LIVE -- join us!
• The real talk happening off-mic at NRF's 'Retail's Big Show' (Jason Del Rey, The Aisle)
• Subscribe to Retail Media Breakfast Club's daily newsletter
• Follow Kiri Masters on LinkedIn