Welcome to our first edition of The Collective’s Journal – I recently had the pleasure of sitting down with Marie-Clare Puffett , the Industry Development & Insights Director at IAB Europe and a key voice in the retail media landscape. MC, as I like to call her, is a founding member of the WRM Collective, and her insights have been instrumental in shaping our understanding of the field in Europe and beyond.
In our conversation, we explored the trends driving retail media’s explosive growth, the challenges of standardizing this fragmented market, and her personal journey in this niche.
Retail media has been on a fast track for growth, with U.S. spending expected to hit $54 billion in 2024. But beyond the big numbers, how do you see the industry evolving? Where do you think this momentum is taking us next?
Marie-Clare Puffett: Retail media is growing fast—here in Europe, it’s actually growing four times faster than the total ad market! But while the growth is exciting, it’s also creating this huge proliferation of retail media networks. Right now, we’re tracking over 130 networks just in Europe, which is a lot to navigate if you’re a media buyer.
What’s really going to shape the future is how well retailers can bridge the gap between their retail and media businesses. We’re talking meaningful data partnerships, expanding off-site, and thinking more like media companies. That shift—retailers learning to act like media businesses—is going to be the real game-changer. But to hit those big numbers everyone’s projecting, it’s not just going to happen on its own. We need alignment and real strategy to make it work.
So with this fragmentation and rapid growth, what are the primary challenges in establishing standardized metrics for retail media from an IAB perspective, and how are you trying to address these?
Marie-Clare: Retailers may not yet fully grasp that established media metrics are table stakes for media buyers. We see a real need for education around these metrics—buyers expect a certain level of transparency and consistency, and our challenge is aligning retailers to speak the same language, especially around return on ad spend (ROAS). It’s a delicate balance, as the buy-side puts on the pressure , while the sell-side is often still on a journey. At IAB Europe, we’re focused on bringing the industry together to create common standards and build that shared understanding such as our standards for onsite and offsite retail media measurement.
The integration of programmatic advertising in retail media is a growing trend, enhancing targeted advertising and operational efficiency. How do you see programmatic evolving within the retail media space, and what impact might it have on targeting and personalization?
Marie-Clare: Programmatic was transformative for digital advertising ten years ago, bringing efficiencies in cost, data usage, and campaign optimization. I see similar potential for retail media, where programmatic can introduce those same efficiencies. At the same time, we’ve learned from past challenges—like transparency around fee structures—so it is important that we apply these lessons to ensure a more transparent, effective implementation in retail media. Programmatic also has a role in addressing fragmentation, as it offers a scalable solution that could help unify disparate retail media networks.
Are there any retail media networks you view as industry leaders due to their adoption of advanced technology or innovation? What specific capabilities set them apart?
Marie-Clare: As part of IAB Europe, I don’t play favorites, but I can say we’ve seen some fantastic examples in our membership. In the last year, companies like Ahold Delhaize , Uber Ads, Rewe Retail Media Connect, and Douglas Marketing Solutions have joined. Each brings a unique approach: Ahold Delhaize, for instance, has launched a dedicated ad business focused on non-endemic advertisers. This flexibility in their strategy is a great example of how retailers can tailor their retail media models to serve both internal needs and the broader market.
You’ve chosen to focus on retail media over other areas like DOOH or Connected TV. Can you share more about your journey in this niche and what drew you to it?
Marie-Clare: Our Chief Economist, Daniel Knapp , conducted an analysis that highlighted retail media as a significant growth area in digital advertising, outpacing other segments. We saw a real need for support in areas like standardization and education. My background in building out our programmatic trading committee aligned well with retail media’s growth trajectory, so it was a natural fit to focus here. I’ve learned so much from training sessions, industry events, and conversations with experts. Retail media is closely linked with other digital channels, including Connected TV, and it’s clear that this area will continue fueling growth across the broader advertising ecosystem.
Are there any women leaders in retail media whom you particularly admire? What qualities or contributions have made them influential in your view?
Marie-Clare: There are some incredible women in retail media who inspire me daily. Yara Daher , our retail media consultant at IAB Europe, has been in this space since the early days—she even worked at HookLogic before Criteo acquired it and built out Criteo’s retail media business. Jessica Wegner from Douglas is another standout—she leads their media solutions division and is a powerful advocate for innovation in retail media. Finally, Bianca Hall from SMG brings deep expertise in insights and measurement, especially around in-store metrics. Working with these women and seeing the impact of their knowledge and leadership is a privilege.
You are a founding member of the Women in Retail Media Collective and an advocate for diversity and inclusion in the industry, why do you think these initiatives are important?
Marie-Clare: One thing I prioritize, both personally and as part of IAB Europe, is ensuring diverse representation. We have an unwritten policy against all-male panels—we won’t put one together, nor will we participate in one if invited. In the retail media events I’ve helped organize, I’ve always checked with our events team to ensure enough women, particularly senior women, are represented. These conversations keep coming up, and we’re seeing the same challenges here as we did in programmatic years ago, where it was difficult to find female voices. This is why I fully support initiatives like the Women in Retail Media Collective. It’s crucial to put more women forward, amplify their voices, and bring their perspectives to the forefront. There are so many knowledgeable women in this space, and it’s essential we make room for them.
Thanks MC for joining our first edition of the journal, and for sharing your knowledge with us!
The Collective’s Journal seeks to highlight stories in the Retail Media industry. Liked this? Have a topic to share? Please email us at hello@wrmcollective.com or DM us via LinkedIn.
About us: The Women in Retail Media Collective (WRM Collective) is a network dedicated to empowering women in the retail media sector. By providing resources, mentorship, and community, WRM Collective creates pathways for women to lead, innovate, and drive change in this booming sector. Founded by two industry leaders, WRM Collective is committed to fostering a more inclusive and equitable retail media landscape. For more information visit www.wrmcollective.com.