The Discovery Economy: Five Takeaways from Circana’s Cara Pratt on New Consumer Behaviours and Media Strategies

At SMG’s Retail Media Leadership Summit, held October 14–15 in Windsor, UK, Cara Pratt, President of Global Retail & Media at Circana, explored how changing consumer behaviour is reshaping the retail media landscape in her session, The Discovery Economy: New Consumer Behaviours, New Media Strategies.

From creators and social commerce to AI-enabled search and purchasing, shoppers are moving fluidly across more touchpoints than ever. Cara’s session considered what that means for retail media leaders: how they can keep pace with evolving behaviours and build networks, partnerships and propositions designed around the shopper of today.

Here are five takeaways from her session.

The shopper is setting the pace

Economic uncertainty is reshaping purchasing patterns, but not evenly. From smaller baskets and fewer trips to different pressures across age and income groups, consumer behaviour is becoming more nuanced.

For retailers and brands, the starting point must be the shopper: understanding their signals of intent, what is influencing behaviour and where their priorities are changing. Retail media can create value, but only when it changes outcomes for the people making the purchase.

The journey is more fluid than the industry’s planning models

A shopper might discover a product through a creator, search for it, compare it in an AI-enabled environment, wait for a promotion and ultimately buy it in-store or online. From an industry perspective, that may look like a fragmented path. To the consumer, it is simply how shopping now works.

As Cara put it, “That is not fragmentation from a consumer standpoint. That’s just a normal journey.”

The opportunity is not to force shoppers into a single path, but to better connect the data, media and experiences surrounding them.

Relevance is there but proof still matters

Retail media has a powerful advantage, according to Circana data: 78% of shoppers say advertising in retail environments influences their behaviour, while 40% say it is more relevant than advertising on social media or non-retail websites.

That is a compelling foundation, but it does not remove the need to prove performance. As investment grows, brands will continue to ask hard questions about incrementality, ROI and the value created beyond a retailer’s own ecosystem. The networks that can answer them with confidence will be best placed to sustain growth.

Social commerce and AI are remaking discovery

Social commerce is already influencing demand, particularly in categories such as beauty. AI is adding another layer, changing how consumers search, compare products and, increasingly, delegate parts of the purchase journey.

Cara was clear on the direction of travel: “It’s a when, not an if.”

That has implications for brands as much as retailers. Building mental availability remains vital, but brands must also become more legible to machines through clear product data, availability, authority, reviews and claims. Consumers are learning quickly, and their comfort with AI-led recommendations and transactions is moving with them.

The next chapter is about connection and orchestration

Retail media has grown at an extraordinary speed. The next challenge is connecting formats, technology, and partners a way that makes sense for brands and shoppers alike.

“The next phase of retail media will be about connection and orchestration,” Cara said.

That means tackling fragmentation, strengthening measurement and creating greater interoperability across a fast-growing ecosystem. There is still considerable headroom for retail media, but growth will be more sustainable when it is anchored in a connected view of the shopper rather than a collection of disconnected channels.

The discovery economy is moving quickly. The retailers, brands and partners that keep learning from the shopper, remain open to change and make their value easier to prove will be best prepared for what comes next.