Andrew Lipsman on the full-funnel power of in-store retail media

At Retail Media Summit UK, themed “New Perspectives,” and brought to you by SMG and ADWEEK, analyst Andrew Lipsman of Media, Ads + Commerce, took the stage to unveil new research on the rise of in-store retail media. Drawing on a collaboration between Colosseum Strategy, SMG’s Plan-Apps, and Kantar, Lipsman made a compelling case for why physical stores represent the next major media channel. His session reframed in-store advertising as a full-funnel driver of brand growth and incremental reach, a message every CMO should take seriously.

THE BOTTOM LINE

In-store retail media is emerging as the next major media channel, one that delivers reach, attention, and brand lift at scale. Andrew Lipsman’s session made it clear: CMOs who treat the store as a full-funnel creative environment rather than solely a point of sale will be the ones that lead the next wave of innovation in retail.

THE TAKEAWAYS

1. In-store is the sleeping giant of retail media

In-store retail media must be treated as more than an extension of digital tactics. It’s a high-value, underinvested media channel hiding in plain sight. Lipsman highlighted that while consumers spend over 5% of their total media time in-store, only 0.1% of ad spend goes there. The gap is massive and ready to close.

“If you just fill the gap, it’s a $20 billion opportunity in the U.S. — maybe double that if we get it right.”

By recognizing the store as both a sales engine and a storytelling platform, brands can unlock scale and relevance no other medium can replicate.

2. Physical stores deliver what TV can’t anymore

As audiences fragment and linear TV struggles to reach younger demographics, the store offers something traditional media can’t: fast, incremental reach with built-in attention. Lipsman’s research showed that in cross-media campaigns, retail media added an average of seven percentage points of incremental reach — often early in a campaign’s life.

“Those 18-to-49-year-olds you can’t reach on TV? They do shop in stores.”

For CMOs chasing both reach and resonance, this positions in-store retail media as a must-have complement to video and digital, not a secondary channel.

3. Context and creative define effectiveness

Lipsman emphasized that proximity to the point of purchase gives in-store media creative power and performance advantage. Dynamic digital formats like gondola ends, six-sheets, and takeovers performed significantly better in both sales and brand lift than static displays.

“You can capture the consumer in a totally different way with dynamic digital creative.”

When a coxteually relevant and creative approach is applied to media, the in-store environment transforms from a shopper space into a theatre or brand-building stage, capable of full-funnel impact, from raising awareness of a new product to driving purchase.

A SOUNDBITE FROM ANDREW

“Retail media is not just a sales driver — it’s a brand builder. CMOs need to start allocating national dollars here, not just shopper or trade. Physical stores can do what TV can’t anymore: deliver reach, speed, and creativity right where it matters most.”