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Retail Media becomes a recruitment bright spot

While stories of job losses in the world of media and advertising about, the same is not true of retail media. Retail Media is one of the recruitment bright spots in the media world, writes Colin Lewis.  

For years, agency people stayed in agency land – and brand marketers or retailers’ did not cross over into the agency world. 

This should not be surprising as the skill sets required to succeed are not the same. This time, it’s different. 

Retail Media is triggering a wholesale series of changes in how retailers can drive new revenues and how brands can acquire customers. The skill set required to set up and operate a retail media network is much more like a media agency than classic retailing. 

Indeed, this is one of the paradoxes of Retail Media: retailers are good at retailing, not necessarily selling media.  However, to succeed, they need to be become more like media or publisher businesses, and less like retailers.

For an example of this one just has to look at some recent hires made by Tesco Media and Insights from Amazon and Pinterest. Stephen Edwards spent the last nine years at Amazon is joining Tesco Media and Insights as Head of Agency and Russell Franklin joins from Pinterest as Head of Client Business Development.  Social networks, eg Pinterest are part of the offsite propositions that many retailers will offer as part of their onsite/offsite/in-store channels.

Many Retail Media Networks might do well to look at what Walmart did when they got serious about their advertising business, Walmart Connect – they hired Seth Dallaire. 

Who is Seth Dallaire? Walmart’s Executive VP and CRO for “Walmart’s new revenue-generating businesses which includes Walmart Connect (media), Walmart+ (membership), Walmart Data Ventures (data monetisation) and business partnerships”. In other words, everything non-retail.  Where did Dallaire come from?  Instacart – where he set up their RMN and before that he was VP Global Advertising Sales for Amazon, where he kick-started their retail media business. 

Prediction: the traffic between media businesses and retailers will increasingly be one-way – made up of executives with media and data experiences who know how to grow media businesses.

Retail Media Networks are the focus of a brand new RetailX Events conference this June. 

MediaX explores the experiences of well-established retailers in this space to new entrants and the agencies who are helping make things tick. For the full list of speakers, agenda and to register – click here.

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