In this episode, Andreas Reiffen, Founder and CEO of Pentaleap, joins Commerce Media Matters to unpack the structural tensions shaping the next phase of retail media. From the fragmentation of retail media networks and the limits of walled gardens, to the challenge of unlocking real media budgets, Andreas offers a grounded view on what is really holding the category back. He also explores why measurement remains one of the industry’s biggest unresolved issues, what programmatic retail media could unlock, and how AI agents may reshape — but not replace — the retail and commerce ecosystem.
What you’ll learn from this episode:
Why retail media is growing — but still structurally messy:
The category has exploded in recent years, but beneath the hype sits a fragmented ecosystem of competing tech models, disconnected platforms, and retailers all trying to build their own version of a walled garden.
The real reason many RMNs struggle to scale:
Why the challenge is not just infrastructure or reach, but the fact that many retail media budgets are still coming from trade, not true media investment, making growth harder than headline numbers suggest.
Why the future may belong to hybrid and programmatic models:
As smaller and mid-tier retailers struggle to go direct at scale, programmatic access, ad networks, and interoperability may become essential to unlocking broader spend across multiple retail environments.
Why ROAS is still an unreliable comfort blanket:
Andreas shares his candid take on measurement, why publisher-reported returns should always be treated cautiously, and why truly accurate retail media measurement remains difficult, resource-heavy, and often misaligned with industry incentives.
What AI and agentic commerce could mean for retail media:
A look at the difference between retailer-owned AI experiences and third-party agents and whether these new interfaces are simply another channel or the start of a deeper threat to retail’s ownership of the customer relationship.
About the hosts:
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