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Missed the last issue?
Let me start with a simple question that should make every marketer sit up a little straighter: What happens when AI stops assisting you and starts making decisions for you? If your first reaction was “Wait… what kind of decisions?” then congratulations!
You’re exactly where most retail and CPG marketers are right now.
Retail Media’s Next Power Move
If your retail media strategy still revolves around last-touch ROAS and a few sponsored product placements, we’ve got news: it’s time for a glow-up.
In our latest episode of The Retail Razor Show, we sat down with retail media’s top analyst and strategist Andrew Lipsman to talk about the two biggest forces reshaping the retail media landscape in 2026:
connected TV (CTV),
and off-site retail media.
And let’s just say… if you’re not already thinking beyond your own website, you’re playing checkers while Amazon and Walmart are playing 4D chess.
Connected TV: Retail Media’s New Playground
CTV is no longer just a shiny object. It’s becoming a core part of the retail media strategy for the biggest players. Amazon is already flexing its Prime Video muscle across Netflix, Hulu, and NBCUniversal.
Walmart? They just bought Vizio. That’s not a test. That’s a takeover.
But here’s the kicker:
CTV is now measurable.
It’s not just about brand awareness anymore. It’s about performance TV. And that’s where things get tricky.
Andrew warns of “performance myopia,” the tendency to obsess over ROAS and short-term KPIs, even when they don’t tell the full story. High CPMs make ROAS look bad, but that doesn’t mean the channel isn’t working.
It just means we need better metrics.
Off-Site Retail Media: The Real Growth Engine
While everyone’s been busy optimizing their on-site ad slots, off-site retail media has been quietly exploding. In fact, it’s growing 3x faster than on-site.
Target’s Roundel is already allocating 30% of its spend off-site. Nordstrom? They’ve been doing it for years.
Why?
Because off-site retail media lets brands reach shoppers where they actually are — on social, on streaming platforms, and across the open web — while still leveraging that sweet, sweet first-party data.
But here’s the catch: most retailers are still under-monetizing their on-site inventory.
And many haven’t figured out how to scale off-site without sacrificing quality or measurement.
ROAS Is a Liar (Yeah, We Said It)
Andrew didn’t mince words: “ROAS is a blunt instrument.” It’s useful, sure, but it’s also misleading. Especially when it comes to upper-funnel channels like CTV and off-site media.
The real value?
Incrementality.
Brand lift.
Long-term impact.
But those things don’t always show up in your spreadsheet. And if you’re only chasing a 6x ROAS, you might be missing the bigger picture, and wasting half your budget in the process.
So What Should You Do?
Andrew’s advice?
Retailers: Start acting like media companies.
Build partnerships.
Invest in talent.
Stop hoarding your data like it’s gold bullion.
Brands: Stop calling retail media a “tax.”
It’s one of the best marketing opportunities you’ve ever had, if you know how to use it.
Want the full download?
This episode is packed with insights, hot takes, and a few hard truths.
Honestly, this may be the most tightly packed episode of retail media insights we’ve ever released!
If you’re serious about evolving your retail media strategy in 2026, you’ll want to hear the whole thing.
Your Turn
We’d love to hear from you:
Retailers: Have you expanded your retail media network into CTV and added off-site media to your portfolio?
Brands: As you add more RMNs to your media mix, are you evaluating based on access to expanded audience reach with CTV and off-site?
Comment on this newsletter or join the conversation on LinkedIn! Your insights may help shape the topics we explore next. And if you liked this issue, share it with someone who still thinks ROAS is the holy grail!
Until next time! Stay sharp. Stay human. Stay ahead!
Sincerely,
Ricardo Belmar & Casey Golden
Co-hosts of The Retail Razor Show
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