In this episode, Michael and Steve welcome back Andrew Lipsman, Founder & Chief Analyst Media, Ads + Commerce, one of the foremost experts on retail media networks, for part one of a two-part deep dive. Andrew explores the explosive growth of retail media, its measurement-led impact on digital advertising, and why retailers are flocking to this space. But first, the hosts break down this week’s top retail headlines—from escalating tariffs to luxury earnings to IKEA’s small store strategy.
In the latest episode of the Remarkable Retail podcast, hosts Michael LeBlanc and Steve Dennis deliver a powerhouse episode split between urgent retail news and a highly anticipated interview with returning guest Andrew Lipsman, Founder & Chief Analyst Media, Ads + Commerce, one of the world’s foremost authorities on retail media networks.
The episode opens with a comprehensive review of the week’s most pressing economic developments. The retail industry faces mounting challenges as tariffs continue to disrupt supply chains and pricing strategies. Cross-border tourism is in sharp decline—down 37% from Canada alone—impacting major cities like New York, Miami, and San Francisco. Chair of the Federal Reserve Jay Powell warned that proposed tariffs could trigger slower growth and higher inflation, further rattling markets.
The retail response? Stockpiling. Sales of big-ticket items like furniture and autos are surging as consumers rush to beat looming price hikes. Shein and Temu are already raising prices and cutting back on U.S. advertising, signalling early effects of lost de minimis exemptions. Meanwhile, luxury brands such as Hermès are increasing prices. The news also covers Ulta’s paused Target expansion, sluggish leasing activity in retail real estate, and IKEA’s increasing bet on small-format stores.
Shifting gears, the second half of the episode features the first part of an in-depth conversation with Andrew Lipsman, who offers a masterclass on the growth and complexity of retail media networks. Andrew traces the emergence of retail media as the “third wave” of digital advertising—following search (Google) and social (Meta)—and explains how closed-loop measurement and first-party data are transforming the economics of media buying.
He explores how retail media isn’t just stealing share from traditional platforms but unlocking new advertiser segments, particularly among third-party sellers and challenger brands. Andrew also tackles common criticisms, including the effectiveness of point-of-purchase ads and the often-misunderstood ROAS metric.
With retailers like Amazon and Walmart now generating billions in high-margin revenue through media, Andrew argues that retail media is not just an ancillary channel — it’s fast becoming a core growth engine.
This episode is a must-listen for retailers, marketers, and media professionals seeking clarity on the headwinds of today’s economy and the structural shifts reshaping the future of retail.