In this episode, a reproduction of my September 16 article on The Drum, I break down Best Buy’s bold move into the retail media space with its first advertising showcase 'We Got Next'. This streaming event marked a pivotal step for the electronics retailer, not just in unveiling in-store ad packages and sports partnerships, but in signaling a much bigger vision for the future of retail media.

I share insights from my conversations with Lisa Valentino, President of Best Buy Ads, about Best Buy’s ambition to become an open platform where other retailers can plug in for data collaboration and audience extension (an approach that stands in stark contrast to today’s walled garden model). I unpack what this shift could mean for advertisers, brands, and retailers navigating an increasingly fragmented retail media landscape.

This episode is sponsored by Connected Commerce at Acosta Group

Timeline

[00:24] - What Best Buy revealed at 'We Got Next' and why it matters
[01:09] - Breaking away from walled gardens: Best Buy’s open platform vision
[02:15] - How Best Buy could solve one of retail’s biggest challenges
[03:19] - The 'frenemy' dilemma for retailers choosing partnerships
[06:23] - Real-world collaboration examples with CNET and Microsoft
[07:30] - Balancing industry standards with experimental innovation
[08:12] - Best Buy’s DSP integrations and what they unlock for advertisers
[09:15] - Could Best Buy reshape retail media into a more collaborative ecosystem?

Links & Resources

• Read my original September 16 article on The Drum, Inside Best Buy’s first ad showcase as it makes a major play for retail media budgets
• Read more about Best Buy Ads on The Drum, Best Buy bets big on retail media: Lisa Valentino on the future of Best Buy Ads
• Read my article What It Actually Takes to Build a Retail Media Federation
• Subscribe to Retail Media Breakfast Club's daily newsletter
• Follow Kiri on LinkedIn