See Commerce Media’s Next Growth Opportunity at Checkout: Rokt Ads’ Jovan Ristic

The shopping mall may be losing its grip on consumers, but its ability to tempt shoppers into buying things they never intended to purchase is alive and well. Rokt Ads is helping bring that time-honored tradition into the digital checkout experience, minus the parking headaches and overpriced pretzels.

Jovan Ristic, vice president of business development at Rokt Ads, discussed the evolution of commerce media, artificial intelligence and the future of online shopping in an interview with David Kaplan, contributor to Beet.TV, ahead of the Beet Retreat L.A., taking place Nov. 4-6.

From retail media to commerce media

“I think that the narrative has shifted from retail media to commerce media,” Ristic said, reflecting on his five and a half years at Rokt.

The distinction matters. Retail media traditionally focuses on advertising within retailers’ digital properties. Commerce media extends those opportunities across a broader range of transactions, including financial services and other platforms where consumers are making purchasing decisions.

Rokt began by placing offers on order confirmation pages before expanding its presence throughout the transaction process. Ristic believes the company was an early participant in a movement that’s now attracting banks, peer-to-peer financial platforms and other businesses.

The industry’s next challenge is figuring out how to extend those opportunities while maintaining a shopping experience consumers actually enjoy.

The checkout is a happy place

For advertisers, the moment a customer completes a purchase offers something increasingly rare: a consumer who’s paying attention and might even be in a good mood.

“The transaction moment is a, is a happy-go-lucky moment, a happy feeling for most consumers,” Ristic said.

Shoppers who’ve already established relationships with merchants tend to trust those brands. They may have saved payment information, loyalty memberships and familiar checkout routines.

That combination of trust and positive emotion creates opportunities for relevant advertising, Ristic explained. It also places pressure on merchants to deliver offers that enhance rather than interrupt the experience.

After all, nothing says congratulations on your purchase quite like another opportunity to spend money.

AI isn’t taking over the shopping cart just yet

Artificial intelligence promises to transform shopping by allowing automated agents to make purchasing decisions for consumers. But Ristic suggested that the advertising industry may have gotten ahead of itself.

“I don’t think it’s like taken off as much as folks had hoped so from like a advertising solution just yet, and a key word there, yet,” he said.

While AI shopping agents are gaining attention, consumers still value controlling their purchases. Ristic expects that balance to evolve as AI systems learn more about individual preferences and become better at making recommendations.

AI could also dramatically accelerate how merchants redesign their digital storefronts. Changes that once required lengthy development cycles could eventually happen in minutes or hours.

That creates another competitive battleground, with merchants racing to improve their customer experiences before rivals do.

Apparently, the robots won’t just be shopping for us. They’ll also be rearranging the store while we’re browsing.

Bringing the shopping mall online

Ristic offered a decidedly analog comparison for commerce media’s future: the traditional shopping mall.

“I don’t know if people still go to shopping malls. Myself personally, I don’t,” he said.

The appeal of the mall, he explained, wasn’t limited to the original shopping mission. Someone looking for baseball cleats might encounter clothing stores, food vendors and other unexpected temptations along the way.

Digital commerce can recreate those opportunities by introducing relevant offers throughout the shopping journey.

For the holiday season, Ristic recommended that brands build on familiar shopping experiences while providing additional value through first-party promotions, third-party offers and charitable opportunities.

The goal isn’t simply to squeeze another advertisement into the checkout process. It’s to create experiences that encourage consumers to return.

“It’s usually a joyous, joyous feeling that people want to feel more of,” Ristic said.

And if commerce media can somehow reproduce the smell of freshly baked mall pretzels, advertisers may have finally cracked the code.