Today I’m digging into a refreshingly honest and frankly rare take from Parbinder Dhariwal, VP, General Manager at CVS Media Exchange (CMX). Instead of the usual hype around retail media growth, he’s calling out what the industry is getting wrong… and why that could slow everything down if we don’t fix it.

By analysing audio clips with Parbs on The CPG Guys, Beyond The Shelf, and Floor 9 (links to the full episodes below), I break down why retail media may have a credibility problem, from forced ad spend to murky measurement, and what needs to change if we want to unlock bigger brand budgets. I also explore why transparency, standardized metrics, and true closed-loop attribution are becoming non-negotiable, and how CMX is positioning itself to lead in that shift.

This episode is sponsored by Mirakl Ads

Timeline

[00:21] – The bold claim: retail media has a PR problem (and why that matters)
[01:06] – Why proving ROI is critical to sustaining retail media growth
[01:31] – The transparency gap: modeling vs. real performance data
[02:15] – Rising skepticism from brands and the “money grab” perception
[03:07] – The real opportunity: unlocking national brand (CMO) budgets
[05:25] – Why transparency is a core pillar of CVS Media Exchange’s strategy
[07:00] – Slowing growth and the future: accountability as a competitive advantage

Links & Resources

• Parbs on The CPG Guys: Harnessing The Power of The Everyday Purchase with CVS Media Exchange's Parbinder Dhariwal
• Parbs on Beyond The Shelf: Bringing Joy to Your Business with CVS Media Exchange's Parbinder Dhariwal
• Parbs on Floor 9: The Evolution of Retail Media Networks (Ft. Parbinder Dariwhal from CVS Media Exchange)
• Follow Parbinder Dhariwal, VP, General Manager at CVS Media Exchange (CMX), on LinkedIn
• Subscribe to The CPG Guys
• Subscribe to Beyond The Shelf
• Subscribe to Floor 9
• Read my related articles:
  • CVS Media Exchange’s Parbinder Dhariwal gets candid about retail media’s credibility gap (The Drum)
  • Inside Mars's Retail Media Investment Matrix
  • Retail Media's Next Challenge: Proving Real Results
• Atlanta-based retail media professionals: Wednesday, April 1 is the next In-Person Atlanta Happy Hour! RSVP here.
• Subscribe to Retail Media Breakfast Club's daily newsletter
• Follow Kiri Masters on LinkedIn