Last year, I found myself navigating chaotic scooter traffic in Thailand, only to realize how dramatically things can change with just a little extra weight. And honestly, that experience became the perfect metaphor for something I see all the time in retail media: people trying to compare markets like the US and Europe as if they’re built the same… when they’re absolutely not.

Today I'm unpacking a fascinating conversation I had with Adam Smith from Iceland and Daniel Torres Dwyer on the FMCG Guys podcast. We dig into the real reasons why retail media has evolved so differently across regions: from geography and regulation to e-commerce penetration and legacy trade structures. If you’ve ever wondered whether the US is “behind” in-store retail media (or if those comparisons even make sense), this one will challenge how you think about the entire landscape.

This episode is sponsored by Mirakl Ads

Timeline

[00:36] – Why retail media comparisons across markets can break down

[01:26] – Setting the stage: US vs UK retail media discussion with Adam Smith

[02:00] – Adam on scale differences and the challenge of in-store digital rollout

[03:07] – I break down the structural reasons the US market operates differently

[04:07] – GDPR and why offsite retail media is more developed in the US

[05:00] – The Robinson-Patman Act and its hidden impact on retail media budgets

[06:10] – Industry debate: are we measuring the wrong things across markets?

[09:30] – Why “US is behind in-store” is a misleading narrative

[11:25] – Final takeaway: different markets, different paths, and what we can learn

Links & Resources

Why Retail Media Looks So Different in the US vs Europe (And Why You’re Comparing It Wrong)

Retail Media Breakfast Club

Why Retail Media Looks So Different in the US vs Europe (And Why You’re Comparing It Wrong)