Why retail media takes from trade instead of digital

The industry's favourite story is that retail media is cannibalising digital advertising: that brands are quietly moving money out of paid social and search because the ROI story is cleaner and the data sits closer to the till. It's a tidy narrative, and it's wrong, or at least incomplete.

Written by Mosa Ntwampe, Head of Strategy | 8/25/2026 10:41:00 AM



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