Last month, the Broadsign team attended the Path to Purchase Institute’s second annual Retail Media Summit Canada, which brought together industry leaders, innovators, and experts to explore the evolving landscape of retail media.
Retail media networks (RMNs) continue to evolve, with industry leaders emphasizing the importance of measurement, automation, omnichannel consistency, and monetization. As part of this year’s summit, Broadsign’s Global Head of Retail Media, Jonathan Franco, explored best practices and key lessons we can learn from digital out-of-home (DOOH) advertising and apply them to the retail media landscape.
Measurement and attribution: The backbone of retail media success
One of the biggest lessons we can take from OOH is that measurement is everything – and brands won’t invest unless they can clearly see the impact of their campaigns. Yet, measurement remains a challenge for in-store media, particularly when connecting performance to overall campaign effectiveness. “There are now over 250 RMNs globally, and we need to find a way to connect the dots across the omnichannel journey,” notes Jonathan.
Consistent measurement is a non-negotiable for brands, and retailers can’t operate in isolation by measuring in-store, off-site, and on-site channels separately. When these touchpoints are connected, they provide advertisers with a complete picture of performance, making it easier to justify ad spend.
Retailers can also help brands reduce waste by enabling real-time decision-making based on triggers like audience insights or campaign performance—tools already available for in-store environments. Ultimately, retailers who prioritize transparency and standardized metrics will gain the trust of advertisers, leading to stronger, longer-term partnerships.
How retailers can improve measurement and attribution:
- Standardize measurement across channels to ensure brands can confidently invest. Without consistent metrics, brands will struggle to justify ad spend.
- Prioritize privacy-first attribution by using anonymized, aggregated data instead of personally identifiable information. This ensures compliance while delivering valuable insights.
- Ask the tough questions, such as: Would my company invest in this offering if I were the one being pitched on it? Forward-thinking retailers are now focusing on true closed-loop attribution in-store to answer this critical question and meet brand advertiser demands.
READ ALSO: Discover how the OOH industry is leveraging technology to achieve more measurable campaign outcomes in our guide to out-of-home measurement, attribution and audience extension.
Strategic screen placement and content strategy
In retail media, success goes beyond simply placing screens in high-traffic areas—it’s about crafting meaningful touchpoints throughout the customer journey. “The OOH market has taught us that success isn’t just about having screens in impactful locations; it’s about playing the right content in the right place at the right time.” When looking at digital screens in retail environments, retailers should focus on strategic intent rather than just hardware specifications. Location matters, but it should be about the intended purpose of the screen.
For retail media networks, that means thinking beyond ad placements and considering how in-store screens complement the full shopper journey. Retailers should leverage real-time data, like weather, promotions, and inventory, to ensure messaging is always relevant, just like many successful OOH campaigns do.
Jonathan also highlights the importance of tailoring implementations to each location’s unique environment, noting that every store has a different soul and retailers should adapt to individual stores rather than deploying identical setups everywhere.
Monetization: Striking a balance between advertising and shopper experience
For retailers looking to scale their RMNs, monetization is a key goal — but it can’t come at the expense of the brick-and-mortar shopping experience. Instead, it should complement and enhance how shoppers engage with products. The most effective RMNs go beyond advertising, incorporating category-based content and educational opportunities that help shoppers make more informed purchasing decisions while still offering valuable ad inventory to brands.
The most effective RMNs go beyond advertising, incorporating category-based content and educational opportunities that help shoppers make more informed purchasing decisions while still offering valuable ad inventory to brands. For example, digital screens can be used to educate shoppers on topics like skincare routines, influencing purchasing decisions across multiple products and increasing basket size. This approach not only provides value to consumers but also creates new opportunities for brands to connect with their audience in meaningful ways.
How retailers can maximize revenue while enhancing the shopper experience:
- Diversify revenue streams. Successful networks don’t rely on just one monetization method, and RMNs shouldn’t either. Instead, you should leverage internal sales teams, third-party agencies, and programmatic ad delivery to drive revenue.
- Automate pricing and inventory management. With multiple stakeholders (category managers, retail media sellers), manual management is not sustainable. As Jonathan put it, “If you don’t automate this, it’s going to be complete chaos.”
- Offer transparency to advertisers. Brands want real-time performance insights and clear attribution models, so invest in a digital signage platform that offers precise, data-backed campaign insights and flexibility.
Retail media requires internal change management
Retail media isn’t just a new revenue stream—it requires a fundamental shift in how retailers approach operations. Success hinges on breaking down silos, rethinking business models, and fostering cross-team collaboration. While technology plays a critical role, true adoption depends on organizational alignment and a well-planned change management strategy. Many retailers mistakenly see retail media networks as just installing screens, but the real challenge is integrating them into broader business strategies for long-term scalability.
How retailers can successfully manage internal change:
- Challenge legacy structures. Success in this space requires collaboration across sales, category management, operations, and technology—not just marketing. As media buyers shift to hybrid digital teams, retail media strategies must be cross-channel and cross-departmental.
- Redefine success metrics. Move beyond impressions and clicks to track sales lift, brand engagement, and ROI.
- Foster a test-and-learn culture. Implement iterative approaches that allow your team to experiment, gather real-world shopper data, and rapidly adjust strategies based on actual consumer behaviour rather than assumptions.
By aligning people, processes, and technology around a unified retail media strategy, retailers can transform what could be a disjointed set of digital screens into a cohesive, revenue-generating network.
Building sustainable in-store media networks: The power of strategic partnerships
How retailers build and operate their in-store media networks can make or break their success. The traditional “build vs. buy” dilemma has evolved into a more nuanced decision with long-term implications for flexibility, control, and revenue potential.
“In OOH, we’ve learned that partnering with best-in-class, open-integration providers drives better long-term performance compared to locking into one-size-fits-all solutions. Why? Because the landscape is always evolving,” shares Jonathan.
Retailers who build closed, rigid networks can struggle with scaling efficiently, as they can’t easily integrate new technologies that emerge. These same retailers also typically face data and measurement limitations that negatively impact both ad performance and attribution capabilities. Additionally, they miss valuable revenue opportunities since brands increasingly prefer to work with platforms offering greater transparency.
Instead, we need to advocate for a more flexible approach. “By embracing plug-and-play partnerships, retailers can stay agile, future-proof their networks, and maximize value for both brands and shoppers.” This partnership model allows retailers to maintain control while accessing best-in-class technology without the heavy lifting of building everything in-house.
How retailers can build scalable networks while maintaining control:
- Leverage third-party partnerships. Partnerships provide agility, scalability, and access to best-in-class technology—crucial for long-term RMN success. Instead of building in-house, an open-integration approach gives retailers flexibility without the overhead.
- Prioritize interoperability. Select partners and platforms that offer robust APIs and established integration pathways with other retail media technologies to ensure your network can evolve with changing needs.
- Start small and scale strategically. Begin with focused pilot programs that deliver quick wins before expanding. This approach allows you to test partnership dynamics, refine processes, and demonstrate value before committing significant resources.
Technology tip: Just as programmatic has revolutionized digital media, dynamic content scheduling and automated inventory management are key to scaling in-store media efficiently. Make sure to choose intelligent in-store retail media software that includes these capabilities.
The future of in-store retail media
Looking ahead, the retail media landscape will continue evolving, requiring retailers to adapt quickly to stay competitive. A major shift in the industry is the unification of RMNs, as smaller retailers will need to join forces to remain viable.
With over 250 retail media networks globally, brands can’t stretch their budgets across all platforms, making consolidation inevitable as retailers compete for advertisers’ limited dollars. Despite foot traffic at top Canadian retailers surpassing pre-pandemic levels, many still aren’t fully leveraging in-store engagement opportunities.
Strategic recommendations to stay ahead:
- Consider unification strategies. Smaller retailers should explore partnerships with complementary, non-competing brands to create unified retail media offerings with broader reach and stronger audience data.
- Focus on monetizing in-store traffic. Retailers with physical locations have a unique advantage in the omnichannel landscape but must act quickly to develop and monetize their in-store retail media assets.
- Prioritize flexibility and automation. As the retail media landscape evolves, the ability to quickly adapt to new technologies, measurement standards, and advertiser demands will separate leaders from followers. Automation is key to scaling efficiently.
“The most successful networks will be those that embrace internal change, challenge the status quo, and continuously optimize,” concludes Jonathan. The future belongs to retailers who can balance innovation with execution, creating retail media experiences that benefit brands, shoppers, and retailers alike.
Explore our latest RMN insights and best practices for building, scaling, and maxing the impact of a retail media network — whether you’re a retailer monetizing your retail assets or a brand investing in RMNs.
Looking to elevate your in-store retail media network?
At Broadsign, we help retailers and brands seamlessly integrate in-store digital signage, automate content management, and optimize retail media monetization.
Whether you’re looking to build your in-store retail media network or scale an existing one, we can help. Contact us today to learn more about how Broadsign can power your in-store retail media strategy.
