In this episode of *The Retail Razor Show* podcast, hosts *Ricardo Belmar* and *Casey Golden* sit down with retail media expert *Andrew Lipsman* to explore how Retail Media Networks (RMNs) are expanding into *connected TV (CTV)* and *off-site retail media* to drive growth in 2026 and beyond.
We dive into how *Amazon* and *Walmart* are leading the charge in *performance TV,* why off-site retail media is growing 3x faster than on-site, and what smaller RMNs can do to stay competitive. Andrew also breaks down the challenges of measurement, the myth of ROAS, and why CMOs and agencies must rethink their retail media strategy.
📌 Topics Covered:
- The rise of connected TV in retail media
- Off-site retail media vs. on-site: where the dollars are going
- Performance TV and the future of brand building
- How to evolve your retail media strategy in 2026
- What CMOs and agencies need to know now
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*Retail Razor Show S6:E4*
*Released on March 27, 2026*
*Guest info*
*Andrew Lipsman* https://www.linkedin.com/in/andrew-lipsman-10b2162/
Analyst, Consultant, and Founder - *Media, Ads + Commerce*
Andrew Lipsman is an independent analyst and principal consultant at Media, Ads + Commerce. His industry coverage specializes in retail media—which he is known for anointing as “digital advertising’s third big wave”—and other areas of the digital media, advertising, and commerce ecosystem. He has published more than a half dozen articles in the Journal of Advertising Research and is frequently quoted in The New York Times, The Wall Street Journal, The Economist, The Financial Times, and Advertising Age.
*Media, Ads + Commerce* https://mediaadsandcommerce.substack.com
Media, Ads + Commerce is a consultancy providing strategy and insights for companies in retail media and the broader media, advertising, and commerce ecosystem.
*Chapters*
00:00 Teaser Open
00:51 Show Intro
04:19 Welcome Back Andrew Lipsman!
06:12 How Retail Media Evolved
07:56 Closed Loop And ROAS Limits
10:57 Retail Media Connective Tissue
15:24 CTV Goes Performance
21:19 Partnership Paths To CTV
24:53 Trade Desk And Agency Gap
27:32 Offsite Media Growth Drivers
29:27 Onsite Relevance First
30:40 Connected TV Landscape
31:46 Inventory Quality and Fraud
33:02 Target and Nordstrom Playbook
35:34 Full Funnel Measurement
36:33 CMO Perception Gap
38:09 Brands and Merchant Alignment
41:49 CTV Attribution Reality
44:06 Rethinking ROAS Metrics
46:17 Last Touch Misleads
47:59 Inefficiency as Opportunity
50:15 Talent and Org Alignment
53:21 2026 Priorities and Mindset
57:13 Where to Follow Andrew
58:00 Show Close
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