"Best Buy today announced 'We Got Next,' its first advertising showcase, which positioned the electronics retailer as a serious player in media. The streaming event unveiled new in-store advertising packages, expanded sports partnerships with the NFL and Tomorrow's Golf League and a roadmap for self-serve capabilities launching in 2025. But what captured my attention wasn't in the main presentation. It was comments that Lisa Valentino, executive vice-president of Best Buy Ads, made onstage last week at the IAB Connected Commerce Summit in New York."
"There, she outlined a vision that goes beyond typical retail media network expansion: Best Buy as an open platform that other retailers could plug into for data collaboration and audience extension. "If another retailer or another RMN wants to work with us to build out a data set of customers that might purchase across multiple retailers, we're all in," Valentino tells me in an interview. This stands in sharp contrast to the walled-garden approach dominating retail media today, where over 200 networks compete for advertiser attention while brands struggle to manage relationships with an average of just six platforms."
Best Buy launched 'We Got Next,' its first advertising showcase, revealing new in-store ad packages, expanded sports partnerships with the NFL and Tomorrow's Golf League, and plans for self-serve ad capabilities in 2025. Lisa Valentino, executive vice-president of Best Buy Ads, outlined a vision for Best Buy as an open platform that other retailers, quick-serve restaurants, and transport companies could plug into for data collaboration and audience extension. The platform approach aims to create cross-retailer customer data sets to help brands reach buyers across stores and address retail media fragmentation amid hundreds of competing networks.
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