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00:00Welcome to our panel, is it retail or commerce?
00:03For those of you that don't know me,
00:04I've been in the retail media space for about 20 years now.
00:08So we made it sexy again, clearly,
00:11because we have a event at Ad Week.
00:14And I wanted to bring some of my friends up on stage
00:16to really talk through the evolution
00:19of what we've actually seen in the industry
00:21from a commerce perspective, hence the name of the panel.
00:25And it wouldn't really be a panel
00:27without me tapping into ChatGPT.
00:30And I wanted to start by just reading
00:32what ChatGPT's definition was of commerce.
00:36Commerce is a type of advertising
00:38that connects consumers with products and services
00:41throughout their buying journey
00:42across both physical and digital platforms.
00:45It typically refers to the intersection
00:47of media and commerce where the process
00:49of buying and selling is integrated
00:51with various forms of media.
00:53This can include traditional media
00:55like television, radio, and print,
00:58as well as digital media such as websites,
01:00social media, and mobile apps.
01:03The concept has gained prominence
01:05with the rise of retail media networks,
01:07I didn't write this, and the increasing use
01:09of digital platforms for marketing and sales.
01:12We're here to discuss commerce, but more specifically,
01:15what are the nuisances that we should be aware of?
01:17So I'm gonna turn it over to our panelists,
01:20maybe starting from left to right, right to left,
01:24to introduce yourselves to kick off our panel.
01:26Sure, Amy, thanks for having me,
01:28and everybody, thanks for having us.
01:29I'm Ashaan Khan, I head up our agency partnerships team
01:32at Uber Advertising.
01:35Hi, everybody, Suzanne Skopp, or Sue Skopp.
01:38I'm from Instacart, and I lead our agency,
01:41API, and channel partnerships.
01:43And my claim to fame is I introduced Ashaan in as well.
01:46This is a fact.
01:48We can talk about that at cocktails.
01:51Hi, everyone, I'm Aaron Gallagher.
01:53I'm the managing director and head of sales
01:55for Connected Media by United Airlines.
02:00Hey, and good afternoon.
02:02I'm Pabst, I'm VP GM for CVS Media Exchange, or CMX.
02:08Did you have to think about that for a minute?
02:09Did, I was like, shh, okay, who am I today?
02:13We're old friends.
02:14It's Monday.
02:16It's Monday, but it's a great Monday.
02:18So how do you think ChatGPT explains commerce?
02:21What do you guys think about that?
02:23Do you think the definition is right on?
02:26Do you think it's too broad?
02:28Just throwing it to whoever wants to answer that first.
02:32I'm happy to start, ladies first.
02:34I actually think they did a really good job.
02:36ChatGPT, I have to use that a little more.
02:39But the one thing that I would say was left out
02:42is the closed-loop measurement.
02:44So more than ever, the thing that's most exciting
02:48about commerce media and using shopper signals
02:52is the opportunity to close the loop and understand,
02:56did that ad exposure actually drive a transaction?
02:59And it's more than just a transaction.
03:01You're getting very deep insights around that consumer
03:04who did transact.
03:07Yeah, I actually thought it was pretty accurate, too.
03:10When I read through that, I was like,
03:11well, that kind of nails it down in a good way.
03:15And especially thinking about what we're doing
03:17at United Airlines with Connected Media,
03:20thinking about how we take this omnichannel
03:23traveler experience and map marketing messages from brands
03:28to the traveler before, during, and after their travel.
03:31And the platforms that entail that include
03:35when you're thinking about travel
03:36and you're on United.com or on the United app,
03:39then when you're in the airport
03:41and you have exposure to all of the screens that we have
03:44within our lounges and our gate information displays,
03:47and then with our in-flight entertainment,
03:49which I can tell some more about that,
03:51but you're really reaching this captive audience
03:53and then you're taking all of your first-party data
03:56that you have and then reaching
03:57that consumer off-platform as well.
03:59So that definition, I thought, really did a nice job
04:02of explaining how this whole commerce media,
04:05travel media network kind of comes to life.
04:08Yeah, I think, so the build that I would put on all of this
04:11is there is, commerce is about transaction, right?
04:14Like there's an exchange that happens
04:16between you and consumer or you and.
04:20Whether or not I watch an ad
04:23and then I get my program for free
04:25or I buy some goods and services from you
04:30and in return for that, I expect a level of service.
04:34I think the same goes for when you think about retail,
04:38you think about commerce.
04:40We also wanna put into the mix loyalty,
04:43that there's an element of loyalty as well
04:46when there's the transaction is actually,
04:49I'm gonna give you all of my details
04:53in exchange for discounts or coupons
04:56or access to certain products and services.
05:00And I think we've just gotta be mindful
05:02because there's different spectrums
05:04of the way in which retail commerce works.
05:08I do absolutely concur that there is definitely
05:13with retail media, I think the differentiator here
05:16is the closed loop transaction
05:19and the way that the consumer behaves
05:21and ultimately purchases product
05:22based on the way in which they've been delivered
05:24an ad is second to none.
05:26And those retail commerce platforms
05:29who have loyalty at the heart of what they do,
05:32again, is a further differentiator.
05:34So I agree with ChatPT, with GPT,
05:37but I think there's some builds on there.
05:40Well, way to take my thunder on my next question.
05:42You just answered it.
05:44But so taking a step back and for those of you
05:46that are not as familiar with the commerce world,
05:49retail media has been around since 1972.
05:52It actually started with the in-store evolution.
05:55We used to say rip the roof off the top of a store,
05:57anything that you can buy inside it,
05:59we could actually buy that on your behalf to a brand.
06:02And it's evolved over time to really turn
06:06into what we're calling the commerce umbrella.
06:08And so retail media is a piece of that commerce umbrella.
06:11And the reason why I have everybody up here on stage
06:14is that we're having a little bit of a debate
06:16of what this really means and what is the definition
06:19between what is a retail media network
06:21and what is a commerce media network.
06:23And I know that we hit upon the data piece
06:25because again, that was my next question,
06:27but Parviz, I'll throw it to you.
06:28What other aspects make you different as a retailer
06:31than say a United or an Uber or even,
06:34Suze, we'll get to you in a minute,
06:36but from a retail perspective.
06:39I work for CVS Health, right?
06:41There's, if you walk out of Penn Station
06:44or this particular area, you're gonna bump
06:46into probably three different CVSs
06:48within the space of like three or four blocks.
06:51The accessibility that we bring to health and wellness,
06:54to consumers around the world,
06:56it's not just about the locations we have here in the city,
06:58it's the 9,000 locations we have everywhere else.
07:02Where we see a clear differentiation
07:05between commerce media versus retail media
07:09is certainly in that closed loop attribution piece, right?
07:12Like there's a real understanding
07:14of whether a consumer buys something in a CVS here
07:17in the city or outside of the city
07:20or anywhere across our locations.
07:21It's like, what's that connective tissue across the board?
07:25So I think we've just gotta be careful
07:26about what commerce media versus retail media does.
07:31The other thing that I would just say
07:33is that not all retail media is created equal.
07:37And what I mean by that is there's some retail media
07:40that is predicated upon first-party data
07:44that necessarily doesn't always tie the full transaction
07:48in a true omni-channel way.
07:50The key to retail media is understanding
07:52when a consumer starts in a digital environment,
07:55finishes in a physical,
07:57or starts in a physical, finishes in physical,
07:59or starts in a physical, finishes in a digital environment,
08:03you've gotta be able to understand
08:05the different ways in that consumer transacts.
08:07And the way that we all transact today has changed.
08:10It's just fragmented.
08:11I have a need right now,
08:13and CVS is just literally around the corner.
08:16I'm just gonna go in and buy that product.
08:18I don't need to fuff around with an app on my phone.
08:21I'm just gonna go in and buy the product.
08:23But that behavior changes depending on use state,
08:26depending on the retailer.
08:28I wouldn't do the same if I was,
08:31I needed, I don't know, some new clothes, right?
08:35It would be a much more selective way
08:38in which I would go into that retail environment.
08:40So I think there's just many nuances to your question.
08:44I appreciate that.
08:45And so I'm not gonna do a deep dive into retail,
08:48but I wanted to look at Ashan and Aaron as well,
08:52because I wanted to understand
08:53how you're defining your networks,
08:54because they're not retail-related,
08:57but they are commerce media networks, so.
09:00Sure.
09:00Yeah, so for us, and starting at a macro Uber level,
09:04I mean, we're the only company
09:05with the global platform that we have
09:07that have what we call a delivery component with Uber Eats,
09:11and then a rider component
09:13with the mobility side in our rider app.
09:16And so for us, it's not to get too heavy into the pitch,
09:21but when we look at the benefits and the value prop,
09:24and it touches on what has been covered here
09:25in terms of first-party audience,
09:27everyone is verified, logged in,
09:30credit card on file, et cetera,
09:31and we harness a lot of signal
09:33about where people are going and what are they buying.
09:36And so for Uber advertising,
09:37we're actually able to help advertisers make sense of that
09:40and help them reach a high-value audience
09:43with the full funnel solution and tactics,
09:45whether it's in the rider app
09:47or whether they're ordering something on Uber Eats, right?
09:50And so when you kind of dive into some of the differences
09:53or specificities of retail media,
09:56I would agree with what Parv spoke about,
09:58especially when you think about
09:59the kind of payout to the merchant.
10:01And so for us, I would also say for Instacart,
10:04we have strong muscle in terms of being able
10:06to drive conversion to the merchant
10:09across a number of merchants.
10:12Yeah, and I think we're a relatively new entrant
10:16into the space.
10:17We're not a retailer,
10:19but being able to reach the traveler
10:21and getting into the mindset of the traveler
10:23is really important.
10:24I think that where we're spending a lot of time,
10:26because people have a very different mindset
10:29when they're planning a trip,
10:31when they're thinking about traveling,
10:32when they're actually in the airport.
10:34I think one of the differentiators we have too
10:36is the screens that are a big part
10:39of our overall omnichannel experience.
10:41And by that, I mean,
10:44we all spend a ton of time in the airport,
10:46whether you're waiting for your plane at the gate
10:49and you're exposed to messaging
10:50at the gate information display.
10:52A lot of people spend specifically in the lounges as well.
10:55So having that presence,
10:57and it's a tension sort of experience
11:02and a tension metric that we're really focused on as well.
11:05And then the other big piece of that too
11:07is when you're actually on the plane.
11:10So average flight time is about three hours
11:13and you're reaching this captive audience
11:15who is sitting there strapped into their seat.
11:18And when we made the decision
11:20to commission about 800 new planes,
11:23all of our new fleet as we're building
11:25will have a new dynamic in-flight entertainment system.
11:27So those days in the past of being on the plane
11:30and seeing the same ad over and over and over again.
11:33How many times are we gonna see those ads?
11:35Just curious.
11:36It's a lot.
11:37Frequency cap.
11:38Yeah, now we'll be able to frequency cap,
11:39which is a good thing.
11:41But ultimately, you'll be able to,
11:44because we know exactly who is sitting in what seat,
11:47we have verified data from travelers
11:50and you can't get onto a plane without showing your ID.
11:53So when we think about match rates, they're near 100%.
11:57So we'll be able to get much more targeted
11:59in terms of delivering the right message
12:01to the right consumer in the seat as they're traveling
12:04and then be able to close that loop
12:05in terms of then reaching that consumer off-platform as well.
12:10So while we're not a retailer,
12:14there is a commerce element to this
12:15with all of the partners that we're working with.
12:18For those of you that are keeping tabs,
12:19we have a retailer media network
12:21that is one retail media network out of, say,
12:23what, 50 or so that are out there now?
12:26200.
12:28Lost track.
12:29It's 200.
12:29224.
12:30Oh, wow, okay.
12:32Shoulda done a little bit of a survey question on that.
12:35So we have a retail.
12:36Then we also have commerce.
12:38And so, not necessarily retailer,
12:42but sells to a given audience.
12:45Suze, where does that put you at Instacart?
12:49We are a marketplace of retailers.
12:52And we do not say we are a retailer.
12:55We are a retail enablement company.
12:58We are very focused on helping retailers
13:01to digitize their business.
13:04And some of the differentiators there is our scale.
13:07We have 1,500 different retailers on our platform.
13:11And it's not just grocers.
13:12We've expanded into new verticals
13:14like home improvement, electronics, convenience,
13:19club, beauty, office supplies.
13:23So we see a consumer shopping many different occasions
13:29across many different discovery surfaces.
13:32So that scale has been tremendous.
13:35But what we're hearing from brands and agencies, too,
13:38is like, help us because this space is so fragmented.
13:43224 retailers out there.
13:46And you know what?
13:47Brand budgets are not getting any bigger.
13:50They're all staying the same or if not going down.
13:53So they're coming to us and saying,
13:56hey, this is a great opportunity to run a national campaign.
14:00So wherever your product or that CPG product
14:03is sold at a retailer, if it's retailer one
14:07through retailer 1,500 within one campaign,
14:11you can run a national campaign
14:13wherever your products are sold.
14:15So that's been a big differentiator for us.
14:18And then all of that expertise and personalization
14:21that we've built on our platform,
14:24we are bringing it off platform and in-store.
14:27And in-store we're really excited about.
14:29We actually just made an announcement today
14:30about our caper carts, which are AI-powered smart carts.
14:35But they all have a tablet on it.
14:36And now there's an advertising opportunity in that
14:39that personalization that for years,
14:42I mean 80 years in the grocery store, you did not have.
14:46You now have it within the cart.
14:48So brands are really excited about it as well as retailers.
14:53So a lot of fragmentations.
14:54We're gonna park that for a second
14:55because I wanna actually come to the crux
14:58of why we're here today, the content meeting commerce.
15:02And so we talk about media.
15:03So you're all media partners that we work with
15:06from a Kineso standpoint.
15:08What about non-media?
15:09How do you guys approach content for your audience
15:13and for your suppliers or clients?
15:16Sure, I can start.
15:17So this is super exciting for us.
15:19I mean, we've essentially brought
15:20net new canvases into the market, right?
15:23So whether it's on Uber Eats,
15:24certainly in the Rider app
15:26where we've launched our Journey ad,
15:28the advertiser owns the full trip to the consumer
15:32and the ads are served within three distinctive screens.
15:35And so the opportunity for storytelling is pretty unique,
15:38very new, very exciting.
15:39And then similarly, where we've expanded with Journey TV
15:42in the back of cars, I mean,
15:44you can storytell for upwards of two minutes.
15:46So what we like to do is actually go deep
15:49with the advertiser and with the brand
15:51and see what we can create together.
15:53So one example is we see about a third of orders
15:58on Uber Eats coming from the Rider app.
16:00And so we were working with a CPG brand.
16:02We saw that behavior.
16:03We said, hey, how do we think about
16:05actually incentivizing the purchase,
16:08knowing that there was already an organic behavior?
16:11And so with them, we actually worked
16:12and developed a playable ad, essentially a gaming ad,
16:15that unlocked the coupon, they go into Uber Eats,
16:18add it to their cart, and then check out.
16:20So great consumer benefit, great brand benefit,
16:23and all sort of net new storytelling.
16:28What else?
16:29I would say, from a content perspective,
16:33there's obviously a huge opportunity for brand partners
16:36to tell a story across this whole omnichannel experience.
16:40But one example in particular,
16:42I think that's super interesting
16:43when you think about content,
16:44is within our in-flight entertainment system,
16:48we have the opportunity to work together with partners
16:50to integrate content into the system.
16:52So you've got the latest movies, latest TV shows.
16:55But we also, leading up to our launch in June,
16:58we brought on board a number of launch partners
17:00across some endemic partners
17:02and non-endemic partners across the board.
17:05And we worked together with Univision
17:07on kind of a multi-touch program.
17:09So it involved promoting their content,
17:13promoted to Spanish-speaking travelers
17:16across our entire network.
17:18So what we did was we created a custom channel
17:21on the in-flight entertainment for Univision,
17:23specifically around their streaming service, VIX.
17:26So it was an engaging experience for the consumer.
17:30If you self-selected to watch Spanish-speaking content,
17:33you could watch that content on the in-flight entertainment.
17:36And then the way that we drove,
17:37when you layer in kind of the commerce element to this,
17:40in addition to developing that custom channel
17:43and doing promotion for various programming
17:45and shows that they have,
17:46we also promoted their VIX service.
17:49So as you were scrolling through the in-flight entertainment
17:52you could click on a tile within the actual content
17:55that exists within the system,
17:57and you would click to get a full-page ad
17:59specifically on your screen right in front of you in seat.
18:02And you could scan the QR code
18:04and download a subscription for VIX.
18:06So in addition to providing great branding experience
18:10overall for Univision,
18:11we also drove specific downloads to their streaming service.
18:14So it really was kind of a unique program
18:16that had kind of a really engaging content experience,
18:21but then also drove business benefits for them as well
18:24by driving new subscribers.
18:27What about the retailer end or as an aggregator?
18:32What are you doing in the sense of content?
18:35I mean, I can speak a little bit
18:36to what we're doing offline, or sorry, off our platform.
18:41We recently launched our Instacart developer platform,
18:44IDP we call it, but basically that's an API we've opened up
18:49and basically are allowing developers
18:53to create this end-to-end solution around food content.
18:59And I'll use our partnership with the New York Times
19:02as an example, but they have amazing recipes.
19:05If you guys don't use it, please download the app.
19:08But now within that, the New York Times app,
19:13you're looking up a recipe and within one click
19:16you can have all of the ingredients
19:20that are a part of that recipe right into your cart
19:24and delivered to your house within an hour.
19:27So we're taking the friction away of building the list,
19:32of the store, and it's really like from page to plate.
19:37So really proud of some of those things
19:39and we're integrating the brands
19:41right into that experience as well.
19:43Yeah, we lean into health and wellness authority
19:48when it comes to content.
19:49So there's close to 140 million users
19:53that are coming to the cvs.com site.
19:5466% of those consumers are coming for shopping
20:00adjacent content, which leaves around about a third
20:02that are coming for health and wellness content.
20:04Hey, I have a specific need or I wanna find
20:09certain more information around disease state.
20:11So we're thinking about more enhancement
20:15within our super app product.
20:17Everybody's got a super app product, I guess.
20:20We've got one too.
20:22But how do we bring content to life
20:24in that super app environment
20:26in order to drive it more engaging?
20:29The other way in which we're bringing content to life
20:31is if you think about our store network,
20:34we have five billion people come through the doors
20:37of CVS every single day.
20:39That's two X more than the amount of people
20:43that get on a plane every day.
20:46Just throwing that one out there.
20:48Gloves are off.
20:49People tell you gloves are off.
20:50My CPM is just one up.
20:52Should you guys have sat opposite sides?
20:56But what we've got there is we've got an opportunity.
20:59The question I see with the 9,000 locations
21:00is how do we bring content, localized content,
21:03into each one of those CVSs?
21:05Because vaccination rates may be very different
21:08in one zip code versus another.
21:11How do we bring awareness in those different zip codes?
21:14In one zip code, allergies might be a problem.
21:18How do we bring allergy content?
21:20So we're utilizing screens at the pharmacy counter
21:23or digitization of our stores.
21:26There's around about 1,800 pharma screens that we've got.
21:29We'll double those next year
21:30because we see a real opportunity
21:32to bringing localized content into the CVS environment
21:36that's editorial, but it also drives
21:39an ad experience as well.
21:41And I ask that because, I mean,
21:43there are some clients in the room today too,
21:45but we're not just looking at media anymore.
21:47So the way that I've beat the drum of retail media
21:52is that buying and planning media itself is table stakes.
21:58And so that's something that everybody,
22:00competitors and things like that,
22:02always have said, yes, we can do it.
22:04And back in the day when we started
22:07what we were doing here at Kineso,
22:08we said that and now it's not enough.
22:11And so we have this notion of what we call total commerce.
22:14And so if you think about it, it's a four-legged stool
22:17and it's the content piece, it's the media piece.
22:21Technology, which now we all have access to
22:24and the retail piece and how that all comes together.
22:27And so if you have any advice for some of the brands
22:31that are in the audience today,
22:33how do you feel we should approach you
22:37when we're talking about both media and content?
22:39Because I know that there is,
22:41we're talking about fragmentation, right?
22:42And that's also gonna be the theme.
22:43There's a lot of fragmentation on their ends.
22:45How do we make it easier to work with you and vice versa?
22:51Yeah, I don't mind going first.
22:57You've gotta understand the consumer first and foremost.
23:01Whether you're thinking about content or the ad experience,
23:05utilization of 1P data, understand the consumer.
23:09How's that consumer behaving in that environment?
23:11What's the need state for that consumer in that environment?
23:14And then how do I ensure that I, in an authentic way,
23:18wrap my content or wrap my ad experience
23:21around that to ultimately drive,
23:22whether it's share of category or growth within a category
23:26or build brand awareness, whatever your KPI is,
23:29you can figure the KPI out,
23:31but wrapping your arms around the consumer
23:35to fully understand through the insights
23:37that retailers and commerce media has to offer you,
23:41that should be your primary objective right now.
23:44Because it's fragmented and it's very, very, very difficult
23:48to understand the different nuances
23:50between one retail media network
23:52versus another commerce media network and so on.
23:54But what we do know is that the consumer behavior
23:57is changing and we can help really leverage that.
24:01So that would be that partnership opportunity, I would say.
24:04I agree with that.
24:05And we're starting to see it already
24:07where retail media isn't just sitting in its own silo now.
24:11It's really being brought into media
24:17and it's being brought under the CMO.
24:20It's not in its own separate world anymore.
24:22And agencies are organizing that way.
24:24Brands are organizing that way.
24:26So I would just say that when you're doing that,
24:32really making sure the consumer is at the center of it.
24:36And before people start pulling their pot of money
24:39to really just look at who is the consumer first
24:42and then define a strategy across all the organizations.
24:47Go ahead, do you have something to add?
24:48You lifted up my mic.
24:49Yeah, no, I would say, yeah, no, I totally agree.
24:51I think it's all about putting the consumer at the center
24:54and making sure what we're really focused on
24:56is better understanding the mindset of the traveler
24:58when they're on their journey.
24:59So, and then thinking about
25:02from a creative execution standpoint,
25:04how you deliver the right message to that consumer
25:07based on the insights that we have
25:09when they're thinking about traveling,
25:10when they're in the airport,
25:12when they're deeply engaged with in-flight entertainment.
25:15And then reaching that person again off platform
25:17to kind of close the loop overall.
25:20But yeah, I think really overall,
25:22I think we're focused on enhancing that consumer experience
25:25throughout the entire travel journey.
25:27So that people are, there's a lot of surprise and delight
25:31and entertaining elements you can provide along the way.
25:35No, thank you for that.
25:36And so we're explaining a very complex world
25:40to you right now.
25:41And I see a lot of head nods that yes, it is complex.
25:44So we're talking about all different aspects of commerce.
25:47We're talking about different types of commerce.
25:51A lot of you mentioned data.
25:53Almost all of you mentioned data.
25:54So let's kind of double click on that a little bit.
25:57And Parbz is laughing.
25:58He's already raising his hand, guys.
25:59This is great.
26:00I don't, I'm not allowed to talk about data.
26:03I know.
26:04But all jokes aside, from my standpoint,
26:07what I'm really trying to get to
26:09is how do we make it easier on ourselves?
26:11So I always say, you know,
26:12like when we're on panels and we're talking to our clients,
26:15how do we create that, you know, dictionary
26:17to make sure that we're talking the same language?
26:20I don't know if you have any suggestions or anything there
26:22because we talk about closed loop,
26:24but then we go to a retailer,
26:25they're measuring different by retailer,
26:27by retailers, apples and oranges.
26:29Commerce media is being measured differently.
26:31We have different KPIs.
26:32Do you have any advice or thoughts
26:35around where we could potentially be headed
26:36for the industry and don't steal my idea?
26:39Yeah, I mean.
26:40They're smiling at me.
26:41I think overall, there's certainly a need
26:43for some level of standardization, right?
26:45So we've worked with the IAB as they've looked at
26:48guidelines for retail media metrics,
26:51our engagement, our engineering teams are involved,
26:53our measurement teams are involved.
26:55So I think a degree of commonality
26:57around the metrics and the outcomes would be great.
27:02Ditto.
27:05No, but we've been working closely with IAB as well.
27:08And I feel like almost probably all of us
27:11sitting on this panel are, and we feel the pain.
27:14So it's really like in our best interest
27:17to make sure we're servicing our clients better.
27:20Can I ask a curveball question though?
27:21Please.
27:22Okay.
27:23So that's out there, the IAB measurement,
27:26but do we feel like we're using it?
27:27Do we feel like, or how do we actually implement it?
27:30Because it's there and we acknowledge it
27:33maybe in our IOs or terms and things like that,
27:35but are we actually using it to our advantage
27:37to simplify what we're doing?
27:39It's a good question.
27:40To be honest, I don't know.
27:41You asked for the curveball.
27:42Yeah, I did.
27:43Well, I think, and I'm sure everyone can attest to this,
27:46when you get into the advertiser specific conversations,
27:49and then also when you get into it at the agency level,
27:52everyone will sort of have an opinion,
27:54have a preference for how they wanna measure it.
27:56So I think it'll have to be both sides
27:59really coming together to align on,
28:01okay, this is at least what incrementality means
28:04and this is how we wanna track it.
28:06So if it's a matter of sort of identifying
28:09the biggest pain point
28:10or sort of what the lowest hanging fruit is to solve,
28:14maybe that's the way.
28:16All right, so this is my hot topic.
28:17This is like, Amy's definitely hit my hot button
28:20on this one.
28:21You don't have that much time, just letting you know.
28:22Right, I'm gonna give you my 30 seconds on this one.
28:25The IAB came out with a bunch of standardization of metrics.
28:28It's in the retailer's wheelhouse
28:32to go and comply with those metrics.
28:35Just do it, get it done,
28:36because if we do not hold ourselves up to a high standard
28:40on the way in which we measure performance
28:42or measure brand efficacy or whatever the KPI is,
28:46we are never ever gonna grow this industry
28:48to the way in which it needs to grow
28:50because this is the holy grail.
28:51The holy grail around retail or commerce media
28:54is understanding consumer,
28:55understanding how that consumer engages with a platform
28:58and seeing that end use case right the way through,
29:01closed loop attribution on that consumer.
29:04We are the only industry that is able to do that,
29:07to hold yourselves up to a really, really high standard.
29:10We comply, we comply with IAB,
29:13we comply at the highest level with the IAB standardization.
29:16We are very vocal about it.
29:18We were the first health and wellness
29:20retail media network to go live with it.
29:22One month after they published the results,
29:24we will continue to go in hard on them,
29:26and I think the rest of the,
29:27it doesn't matter if it's IAB or otherwise,
29:29but I think the rest of the industry has gotta do it
29:31because otherwise you're gonna start to stand out
29:35like a sore thumb.
29:36I think it's been interesting too,
29:38just since we've been out in market since June of this year,
29:42working together with commerce media teams
29:45within an agency has been incredibly helpful
29:47because when you think of all the touch points we have,
29:50thank you, so when you think of all the touch points,
29:54there's, some of these things had existed in the past.
29:56People have been buying out of home, in airport.
29:59A lot of times the media that would run
30:02within in-flight entertainment would also be bought
30:04through an out-of-home team,
30:06but then it's also digital video,
30:07so we're talking a video investment team,
30:09so I think over the next year,
30:12there's gonna be a lot of change
30:13just as more of these commerce media networks
30:15come to fruition, and working together
30:18with commerce-centric agency planning teams
30:21is really gonna be key
30:23because they see the whole holistic picture
30:26of everything that we're doing
30:28because there is that fragmentation, and it's new,
30:30so it's sort of like we're kind of all working together
30:33to come up with the right solutions for this,
30:35but yeah, I think working together
30:37with agency partners like yourself has been really helpful.
30:40So I'm gonna drop my bomb now.
30:42What about you guys working with each other?
30:45So, and I know, we already prepped this, guys,
30:48so they said I could say it.
30:51Think about it this way.
30:52I'm going on a trip.
30:53I take an Uber to my airport.
30:57I'm jumping on a United flight.
30:59I'm renting a house, maybe.
31:01I need groceries.
31:02I'm going on Instacart, and oh, I forgot my,
31:04what did you call it, sunny cream?
31:07Sun cream, and I have to go to, yeah, sorry.
31:10I'm gonna have to go to CVS,
31:12so again, loaded question here,
31:14but it would make my life easier as an agency
31:18if non-compete works together on your side.
31:22I'm not saying we have a lot of work to do.
31:24I'm just acknowledging that,
31:25but from a media partner standpoint,
31:27there's gotta be some sort of consolidation somewhere.
31:29Why not lean into that model?
31:33Yeah.
31:34I mean, I think there's a huge opportunity,
31:37huge opportunity for collaboration,
31:39because when we think about the overall travel journey,
31:42the one thing that we're missing is
31:44how are you getting to the airport?
31:45That's where an Uber would come into play,
31:47and then, like we were saying,
31:49you've got your Airbnb,
31:50and you realize you didn't order any food for your week,
31:53so you could do your Instacart order directly on the plane,
31:56and then you forgot your sunscreen or shaving cream,
31:59which I always forget.
32:00We are more than sunscreen.
32:01That's just what everybody says.
32:03Just so you know,
32:03we're already partners with CVS.
32:05You can get your sunscreen.
32:06You can get your GLP-1s in there.
32:10But no, I think there's definitely
32:11a huge opportunity for collaboration.
32:14Yeah, I mean, we're partnering together.
32:16We partner with CVS.
32:17You can get your sunscreen on Instacart, too,
32:20but this is a really unique partnership
32:24where we now have a restaurant tab
32:26within the Instacart platform,
32:28and it was, as a use case,
32:30so many consumers were coming to us and saying,
32:33you know, I'm ordering my grocery for the week,
32:36but I also need dinner tonight,
32:38and so we've now partnered with Uber,
32:41and no, it's not an advertising opportunity right now,
32:44but it's helping us bring fresh reach.
32:46It's helping us provide these use cases
32:50that we didn't have within our platform before.
32:53Yeah, I think the growth opportunity here from,
32:56it's not just we working together, right?
32:59I think it's how do we enhance the consumer experience
33:03when they're not on our sites,
33:05when they're not in our,
33:06when they're not in an Uber
33:07or they're not grocery shopping,
33:09and I'll give you an example.
33:11For Pinterest or any other social platform,
33:14do not have that level of engagement
33:17when we think about that closed-loop attribution,
33:19but retail commerce media can really provide that data layer
33:25to those platforms in order to help them
33:27determine certain signals as well,
33:29so you're gonna see a lot more
33:31that's happening in that space,
33:34and that's when it gets exciting, right?
33:36Like, that helps the agencies
33:38and brands consolidate their buys.
33:40Yeah.
33:41And it's not just the closed-loop reporting, right?
33:43I mean, it's getting as early to the plant,
33:47getting strategic insights from all of our consumers
33:50and bringing them into the planning process.
33:52And I think it's really funny
33:53because the one thing that none of you said
33:56is that you're all reaching the same consumer,
33:58and so it's the one person,
34:00and so the consumer actually sees just ads.
34:03They don't see Uber ads and Instacart ads,
34:06CVS, United, they just see ads along their journey,
34:10so I mean, not making a prediction,
34:12but making a prediction,
34:14is going to be audience-led, data-led,
34:17that's how we're leaning into it from a Kineso standpoint,
34:20so in my mind, that is the evolution,
34:23and it's not just channels,
34:25it's the journey media planning, right?
34:28Which leads me to my next question,
34:29and I know we're wrapping up
34:30because we do have something a little bit fun
34:32for the audience, so I wanna keep us on track.
34:35Where do you see the future going?
34:37Or is it something that we just talked about,
34:38or is it something that is completely in left field
34:42and I haven't mentioned today?
34:44There's a lot going on in our space.
34:46You have the floor.
34:48You wanna go first?
34:49You go first.
34:50I mean, I'll talk a little bit
34:51about innovation and Omnichannel.
34:53I mean, you spoke a lot about Omnichannel earlier,
34:55but the next six to 12 months,
35:01I think a lot of kind of what brands
35:05are going to expect from us
35:06is truly understanding who that Omnichannel shopper is,
35:10and really being able to identify
35:13kind of what are they doing online,
35:16and then bringing that into store or vice versa.
35:20And I see like some of the technologies
35:22that we're building around connected commerce
35:24in the retail are really helping us
35:26to bridge that gap of kind of what we've built on Instacart
35:29and bringing that into the store
35:31with our AI-powered Kapor cards.
35:34Yeah, I mean, I would echo that.
35:36I think at large, and Amy,
35:37this has been a fantastic panel
35:39because we're all representing ad groups
35:41from companies that were consumer product first, et cetera.
35:45And so presumably, everybody's organization
35:47is focused on consumer growth and frequency, right?
35:50Making their platform stickier.
35:51And so on the ad side,
35:53I think it's about how do we utilize some of that
35:56and how do we create more interoperable experiences?
35:58So whether it's the ability for audiences
36:01to go in between platforms,
36:03and I think all of us are more or less working
36:05on an audience off-platform strategy.
36:08So I think we'll see more of that.
36:09I think we'll certainly continue
36:11to see greater personalization
36:13led by first-party audiences executed
36:15in a privacy-safe way.
36:19Yeah, and I would say personalization
36:21is really gonna be key
36:22because as you're engaging with consumers
36:25across any journey they might have,
36:27you wanna really make sure that you're understanding
36:31the mindset of that consumer at that point in time.
36:34So really evolving that experience
36:36and really customizing that I think is gonna be key,
36:40whether that's through various creative optimizations
36:43or the other piece too is knowing
36:47that we're partnering with Starlink
36:49to offer free Wi-Fi, high-speed internet on plane
36:52on all of the United Fleet in the years ahead.
36:55I mean, that's gonna be another area
36:56for innovation as well,
36:57just as we continue to scale that in-flight experience.
37:01Yeah, just to build on everything that everybody said,
37:05our big focus over the next six to 12 months
37:07is how do we bring more screens
37:10and digitization to the store experience?
37:12Because we see that the vast majority of our transactions
37:15are happening in the store environment.
37:17The five million consumers that are coming through,
37:19they're coming through for different reasons as well.
37:21They're picking up their meds at the back of the store
37:23or they're buying their beauty products
37:26at the front of the store.
37:27How do we build engaging experiences with those consumers
37:31when they are in the store environment?
37:33We believe that there is a connected opportunity
37:39across all of the different screens
37:41that we have in our store,
37:42whether it's the pharmacy counter or the trend caps
37:45or the self-service checkout
37:47or a screen as you come into the store
37:49and bringing all of those together
37:50and then maybe working with some digital out-of-home
37:54as well to bring it to life.
37:56That's the next six to 12 months for us.
37:58So I'm just gonna put this out there,
37:59but when you mentioned the word connection,
38:01when you all connect,
38:03I'm gonna be your first phone call, right?
38:04First agency to test this out?
38:06Okay, you're on the spot.
38:07Yep.
38:08Okay, thank you, I appreciate that.
38:09I wanna thank my panel today.
38:11This was awesome.
38:12I hope everyone learns a little bit
38:13about what commerce and retail is all about.