IAB Europe launches council to advance its work on Retail Media in Europe
Since Interactive Advertising Bureau, IAB, Europe’s multi-stakeholder Retail Media Working Group launched in October 2022, members have been working on a number of initiatives to help educate and advance the retail media landscape including creating European level ‘agreed’ definitions, producing a 101 Guide and the development of market insights.
The next phase for the group is to turn its attention to standards. A recent IAB Europe survey of over 100 Retail Media buyers and sellers found that over two thirds of buyers (70%) think the lack of standards for Retail Media is a barrier to investment.
To help advance the groups work on creating standards, it is key to have buy-in and support from retailers. IAB Europe has therefore created a new exclusive council for retailers.
This new Council will sit alongside the existing Working Group as a forum for trusted exchange between retailers in order to enable collaborative conversations, develop standards and enable retail media in Europe to thrive. Retailers who operate in at least one European market are eligible to become members of IAB Europe and join the Retailer Council as well as the multi-stakeholder Retail Media Working Group.
Meeting on a regular basis, the Council will review and input to IAB Europe’s key work tracks on retail media including the development of standards. Members of the Council will also have the opportunity to exchange best practices, share insights and innovations in a closed ‘retailers only’ forum.
