Albertsons Media Collective Debuts Preliminary Standardization Framework to Improve Transparency in Retail Media and Remove Points of Friction for Advertisers
Encouraging Industry Leaders to Come Together to Drive Change, Albertsons Media Collective Hosts Critical Standardization Conversation at Cannes Lions
“While retail media is booming, the lack of standardization has produced an unnecessarily complex, inefficient and costly ecosystem. For retail media to achieve its full promise, we must tackle the issue of standardization head on,” said Kristi Argyilan, SVP of Retail Media for Albertsons Companies. “To ensure the survival of this industry, we must come together toward a greater goal. We believe this framework will serve as a starting point for creating a unified approach to retail media standardization. Setting a new gold standard is the first stepping stone to revolutionizing how advertisers, agencies and retail media networks work together.”
As retail media continues to proliferate, advertisers and agencies must dedicate significant resources to producing varying ad formats, as well as transact, measure and integrate insights from each platform. This has led to advertisers experiencing difficulties in cross-platform comparison, limited transparency and inconsistent reporting.
The first version of the framework introduced by Albertsons Media Collective concentrates on four areas: product characteristics, performance measurement, third-party verification and capabilities. The framework will be finalized after pressure-testing industry-wide priorities and ensuring executional feasibility. Guided by an advisory group, this framework will also expand and evolve further to support key initiatives by the IAB.
“At Unilever, we are supportive of this workstream as we believe it’s essential for the industry to come together to tackle standardization when it comes to attribution, measurement, frequency of reporting and transparency. We continue to be an advocate for industry wide solutions,” said Aaron Sobol, Head of US Media Investment and Partnerships, Unilever.
According to eMarketer estimates, retail media networks are slated to bring in
“Omnicom Media Group shares Albertsons Media Collective’s commitment to assuring advertisers can have confidence in their retail media investments, and their belief that confidence can best be achieved through standardization,” said Ben Hovaness, SVP, Marketplace Intelligence, Omnicom Media Group. “That’s why OMG created the Council on Accountability and Standards in Advertising (CASA), and why we stand with The Collective as active advocates for assuring clarity, safety and transparency in this rapidly growing investment channel.”
In addition to benefiting stakeholders across the retail media value chain, standardization will also help improve the consumer shopping journey. Personalized ads on retail media networks, based on consumer opt-in data, help shoppers quickly find products that align with their needs and desires. In turn, those shoppers save time while also discovering new products.
The Retail Media Standardization effort is open to industry stakeholders to join this initiative. For more information, please email mediacollective@albertsons.com.
About Albertsons Media Collective
Albertsons Media Collective is a next-generation retail media network rooted in connections, technology and innovation. As the retail media arm for Albertsons Companies, one of the largest food and drug retailers in
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Media Contact
media@albertsons.com
Source: Albertsons Companies, Inc.
