CANNES – Retail media was a hot topic at the Cannes Lions International Festival of Creativity, with experts from top brands and agencies discussing its growing importance and potential for innovation. Among the highlights, Jon Watts, managing director of the Coalition for Innovative Media Measurement, moderated a panel featuring leaders in retail media, including Joe Maceda from Mindshare, Sean Ransenberg from HEB Retail Media Network, Jen Jensen from Best Buy and Melanie Zimmerman from Criteo.
Growing buzz around retail media
Jon Watts kicked off the conversation by asking the panel why retail media is garnering so much attention at the event. Joe Maceda, chief strategy officer at Mindshare, highlighted the expansion of retail media across various categories, with more brands realizing the opportunity it provides.
“Retail media is not just a channel anymore,” Maceda said. “It is an audience definition and data source.”
The integration of retail media data with platforms like connected TV (CTV) has added power to marketing strategies, he said, predicting that retail media will play a crucial role across multiple channels in the coming years.Jon
Connecting with local communities
Sean Ransenberg, managing director of HEB Retail Media Network, added that retail media offers brands a unique opportunity to connect with local communities authentically.
“Retail media is an opportunity for brands to connect with local communities in a way that ultimately drives measurable results,” Ransenberg said.
He stressed the importance of working closely with retailers to achieve these outcomes and create meaningful customer experiences.
Moving beyond the ‘endemic’ mindset
Jen Jensen, vice president of agency partnerships at Best Buy, expressed concern over the narrow perception of retail media, which is often seen solely as a performance or sponsored product tool.
“Retail media gets pinned in as just like sponsored products or performance,” she said. “We need to think about how we can leverage it across the funnel and create a more integrated experience.”
She encouraged brands to step outside the traditional mindset and explore new ways to connect with consumers across different stages of the customer journey, leveraging Best Buy’s rich data.
Data as the key to unlocking potential
Melanie Zimmerman, general manager of global retail media at Criteo, highlighted the importance of data in shaping the future of retail media. She pointed out the opportunities that retailers have in extending their audiences into broader platforms, creating omnichannel experiences. Zimmerman emphasized the need for flexibility, allowing advertisers to use retailer data across different programmatic platforms while also protecting the integrity of the data itself.
Standardization and collaboration
As the panel discussed the future of retail media, the topic of standardization and collaboration came up. Zimmerman advocated for the industry to move towards a unified approach to measurement and data management.
“The industry has been talking about standardization for a long time,” she said. “Let’s start somewhere, even with basic things like attribution windows.”
Ransenberg echoed the sentiment, noting that the measurement challenges need to be addressed through collaboration between brands, retailers, and agencies.
Jensen added that while retail media networks are abundant, there is a significant opportunity to collaborate across these platforms to create synergies.
“We have to create some standardization,” she said. “Otherwise, marketers won’t want to choose retail media.” The panel agreed that working together, regardless of competition, is ejon watts, Jssential for moving the industry forward.
Exciting future of retail media
The panelists were optimistic about the future of retail media, acknowledging both the challenges and the immense potential for growth and innovation. By embracing collaboration, improving data integration and expanding beyond traditional advertising models, retail media is poised to become a central player in the marketing ecosystem. The next wave of growth will come from brands and retailers leveraging these opportunities to create unique, data-driven customer experiences that drive results.
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