What IPG Mediabrands has planned for its new retail media unit

The Unified Retail Media Solution, expected to come to Canada next year, is meant help clients better compare performance across closed networks.

Retail media is growing fast, but the networks currently available from major retailers tend to operate as closed-loop systems, making it a challenge to compare audiences and metrics across networks.

That’s a challenge IPG Mediabrands is hoping to address with its Unified Retail Media Solution, which it says will help brands navigate the retail advertising medium and bring more openness to the typically closed world.

Unified Retail Media Solution is powered by a tech platform operating against four key principles: unified audience, unified measurement, unified optimization and unified intelligence. The platform can isolate which retailers are performing best and then automate cross-retailer activation and optimization. Brands also have the option of augmenting their data and the platform will automatically aggregate the cross-network data using IPG’s proprietary AI powered tools to enable planning, insights, activation and optimization.

The new retail media unit is currently in beta test in the U.S. with clients in the CPG, gaming at OTC sectors, and already has a database of hundreds of bespoke audiences built out, with a roadmap to hit over 10,000 by the end of the year. The unit will exit beta and launch south of the border at some point in Q3, before coming to Canada in 2024 as part of a global push.

The new unit is the latest step in IPG’s “Total Commerce” strategy, which also includes its Creative Commerce Labs.

“We’ve been consolidating a lot of our different entities together to get rid of some of the silos and join forces with everyone that’s touching media as a whole — bringing together people that have been working on retail media networks, bringing together tools that have been developed, bringing together expertise across different areas,” says Will Margaritis, SVP and head of ecommerce at IPG’s Reprise New York. “[We are] really combining all of this into one solution to essentially supercharge our approach to retail media networks.”

Emmanuel Lafleur-Velasco, VP and head of eeommerce for Reprise in Canada, says with the sunsetting of third-party cookies, there’s more sensitivity around privacy, so brands are looking for solutions where they can reach consumers in a safe and private environment.

“One of the best solutions that brands have found is partnering with retail media partners that have access to unique data sets of first-party audiences and other consumption patterns. The idea of why retail media is such a race to gold now for advertisers is how they can combine their databases with the retailers to create more relevant and tactical reach, and influence consumers to go down the purchase funnel.”

Lafleur-Velasco adds, “It really is getting that consumer when they’re in the purchasing mindset. And that can drive incredible results.”