Albertsons Media Collective debuts framework to improve retail media transparency

Albertsons Media Collective, the retail media arm for Albertsons, is sharing a preliminary framework to standardize specifications, methodologies, terminology and disclosures across retail media networks, which is available in a new whitepaper.

At Cannes Lions, Albertsons Media Collective is hosting a critical discussion on the topic - Transforming Retail Media Through Standardization—alongside leaders from Omnicom Media Group, Pinterest and R3.

“While retail media is booming, the lack of standardization has produced an unnecessarily complex, inefficient and costly ecosystem. For retail media to achieve its full promise, we must tackle the issue of standardization head on,” said Kristi Argyilan, senior vice president of retail media for Albertsons. “To ensure the survival of this industry, we must come together toward a greater goal. We believe this framework will serve as a starting point for creating a unified approach to retail media standardization. Setting a new gold standard is the first stepping stone to revolutionizing how advertisers, agencies and retail media networks work together.”

[Read more: Albertsons named Drug Store News Pharmacy Innovator of the Year 2022]

As retail media continues to proliferate, advertisers and agencies must dedicate significant resources to producing varying ad formats, as well as transact, measure and integrate insights from each platform. This has led to advertisers experiencing difficulties in cross-platform comparison, limited transparency and inconsistent reporting, Albertsons said.

The first version of the framework introduced by Albertsons Media Collective concentrates on four areas: product characteristics, performance measurement, third-party verification and capabilities. The framework will be finalized after pressure-testing industry-wide priorities and ensuring executional feasibility. Guided by an advisory group, this framework also will expand and evolve further to support key initiatives by the IAB.

“At Unilever, we are supportive of this workstream as we believe it’s essential for the industry to come together to tackle standardization when it comes to attribution, measurement, frequency of reporting and transparency. We continue to be an advocate for industry wide solutions,” said Aaron Sobol, head of U.S. media investment and partnerships at Unilever.

Albertsons also noted that according to eMarketer estimates, retail media networks are slated to bring in $106 billion in U.S. ad spending by 2027—more than double the $45 billion expected in 2023.

“Omnicom Media Group shares Albertsons Media Collective’s commitment to assuring advertisers can have confidence in their retail media investments, and their belief that confidence can best be achieved through standardization,” said Ben Hovaness, senior vice president of marketplace intelligence for Omnicom Media Group. “That’s why OMG created the Council on Accountability and Standards in Advertising, and why we stand with The Collective as active advocates for assuring clarity, safety and transparency in this rapidly growing investment channel.”

[Read more: Kroger to acquire Albertsons for $24.6B]

In addition to benefiting stakeholders across the retail media value chain, standardization also will help improve the consumer shopping journey. Personalized ads on retail media networks, based on consumer opt-in data, help shoppers quickly find products that align with their needs and desires. In turn, those shoppers save time while also discovering new products, Albertsons said.

The Retail Media Standardization effort is open to industry stakeholders to join this initiative. For more information, please email [email protected].

The best practices framework Whitepaper may be accessed online here.