Brussels, Belgium, 25th April 2024 - Today, IAB Europe has published the final version of the Retail Media Measurement Standards for Europe to provide media buyers with a framework for consistent metrics to compare their retail media investment. The Standards have been finalised following a public comment period between February and March 2024, where a wide range of industry stakeholders from across Europe provided feedback and insights to shape the final version.
Jessica Wegner, Vice President New Business & Retail Media at DOUGLAS Marketing Solutions commented on the importance of these standards: “In the advancing landscape of digital advertising, Retail Media emerges as a crucial media solution, yet its potential was hindered by challenges such as the lack of standardisation. According to IAB Europe research, only half of buyers currently recognise the efficiencies of Retail Media and seek consistent measurement and standards. To unleash the full power of Retail Media, addressing this critical gap through standardised measurement methods is paramount. Moving beyond traditional KPIs like ROAS or CPC, the focus on standardisation, particularly in media and attribution measurement, holds the key to unlocking its true efficiency.”
The Retail Media Measurement Standards were developed following consultations with retailers, media buyers (brands and agencies) and cover the following areas:
The full standards can be viewed here alongside the FAQ document here.
Commenting on the need to equip retail media stakeholders with standards to help drive investment and market sophistication, Jason Wescott, Chair of IAB Europe’s Retail Media Committee, and Global Head of Commerce Solutions at GroupM said: “IAB Europe’s Q3 2023 Retail Media Standards Survey revealed a significant hurdle to investment: over two-thirds of respondents cited the absence of standards. In response, we convened fifteen top regional retail media firms in January 2024 to pioneer IAB Europe’s inaugural Digital Retail Media Standards. This initiative addresses the intricate landscape of onsite, offsite, and digital in-store media, alongside e-commerce and omnichannel commerce metrics. With diverse offerings from numerous retail media owners, achieving unity is paramount. The Retail Media Standards project is a cornerstone of our 2024 agenda, and this launching version marks a substantial stride toward harmonising and streamlining the region's industry for advertisers.”
Commenting on IAB Europe’s drive to support retail media across Europe, Townsend Feehan, CEO of IAB Europe said “With the publication of the first set of European Retail Media Measurement Standards, we affirm our dedication and commitment to providing industry stakeholders with a robust framework that ensures consistency across the ecosystem and enables Retail Media to thrive. These standards not only establish much-needed uniform metrics but also foster transparency, making room for greater innovation and investment in this space. I am excited to see how this pivotal step allows us to collectively drive Retail Media forward over the next 12 months and beyond.”
To access more information, industry education, and intelligence about Retail Media in Europe, please visit IAB Europe’s dedicated retail media hub on its website here.
