The Return To Onsite

Retail media has spent the last few years chasing growth through connected TV, influencer partnerships, social commerce, and in-store screens. But new research from eMarketer and Bain & Company suggests retail media network leaders are shifting their focus back to onsite advertising, where retailers have more control, higher margins, and a more established path to advertiser budgets. In this episode, an expansion on my recent article for The Drum, I explore why offsite retail media has been harder to scale than expected, what advertiser demand tells us about the industry's biggest growth opportunities, and why proving incremental revenue remains a challenge. I also look at the growing threat of AI shopping agents that could bypass retailer websites and disrupt traditional sponsored product ads. Is returning to onsite advertising a smart strategic move, or are retail media networks sacrificing future growth for easier wins today? Drawing on insights from eMarketer's Sarah Marzano and perspectives from the retail media community, I unpack the trade-offs facing retail media leaders and what it will take to unlock the next phase of growth. This episode is sponsored by GrowthLoop (http://go.growthloop.com/commerce-media) Timeline [00:00] - Why retail media is moving back toward its roots, with onsite advertising emerging as a leading growth opportunity. [02:35] - Sarah Marzano explains why retailers have more control, fewer third parties, and higher margins with onsite ads. [04:11] - Why offsite retail media is harder to sell, including the challenge of reaching brand budgets beyond ecommerce and sales teams. [06:22] - The disconnect between retail media's promised growth and advertiser demand for social and in-store placements. [08:21] - The retail media doom loop: declining confidence in incremental revenue, talent shortages, and underfunded technology. [11:33] - How AI shopping agents could bypass retailer websites and put traditional sponsored product ads at risk. [13:20] - The debate over whether returning to onsite is a sensible strategy or whether offsite is essential for the next wave of growth. Links & Resources • A version of this piece was first published to my column at The Drum on October 12, 2026, as Should retail media get back to what it does best? (https://www.thedrum.com/opinion/kiri-...) • EMARKETER and Bain & Company, Retail Media's Growth Is Outpacing Confidence in What Comes Next (%5BLINK%5D) | September 2026. Survey of 61 US sell-side retail media leaders, conducted July 2026. • Follow Sarah Marzano, Retail & Commerce Media at EMARKETER, on LinkedIn (https://www.linkedin.com/in/sarahzmar...) • Read my related articles: • Best Buy Ads’ showcase moves on from the sponsored product ad (https://www.thedrum.com/opinion/best-...) (The Drum) • Why OpenAI’s ad announcement should worry retail media networks (https://www.thedrum.com/opinion/why-o...) (The Drum) • The Retail Media Doom Loop: 2026 Edition (https://retailmediabreakfastclub.com/...) • Retailers, here’s how your media network can still thrive in an AI-shopping era (https://www.thedrum.com/opinion/ai-is...) (The Drum) • The AI assistant is the next ad surface. Only one retailer has actually built it (https://www.thedrum.com/opinion/kiri-...) (The Drum) • I'm sharing comedy skits on Instagram about retail media! Follow along: @retailmediabreakfastclub (  / retailmediabreakfastclub  ) • Subscribe to Retail Media Breakfast Club's daily newsletter (https://www.retailmediabreakfastclub....) • Follow Kiri Masters on LinkedIn (  / kiri-masters  )