Retail media has moved fast over the past year, shifting from experimental add on to a core commercial priority for retailers, brands and agencies alike. For Uche Ofili, Director of Agency Partnerships at SMG, that evolution has been felt first hand. Speaking to Justin Pearse, Editor in Chief of Retail Media Age, Ofili reflects on a year of structural change, growing professionalism and the challenges that still sit ahead as retail media matures into a true investment channel.
Looking back over the past year, what were the most important developments?
It has been a really interesting experience for me. Moving from Tesco to SMG meant stepping into a very different environment and needing to understand multiple retailers at very different stages of maturity.
At SMG you are effectively bringing together six or seven retailers and thinking about how to take them to market in a coherent way. That perspective has been fascinating. You have retailers like Boots that are far ahead in terms of innovation and their retail media offering, and then you have some of the larger grocery businesses, like Asda and Morrisons, that are now really waking up to the importance of being media owners.
The challenge is that these are very large organisations, they move more like oil tankers than speedboats, so change takes time and a lot of internal manoeuvring. What is encouraging is that they are facing into it with real positivity, even though there is still a huge amount of foundational work to do around pricing, procurement, finance and how all of that plugs into agencies.
Retailers are now far more willing to talk about retail media, but that means changing behaviours inside big organisations. How agile are retailers really being?
I would say they are making the right hires, which is a really important signal. You are seeing experienced people move between retailers and bring that knowledge with them. Someone like Matt McLellan moving from Asda to Morrisons is a great example of that transfer of expertise.
There is also a noticeable rise in roles like Head of Retail Media sitting alongside more traditional CMO positions. That balance is quite nuanced. The CMO role often feels more buy side focused and agency facing, whereas the Head of Retail Media is very clearly sell side and commercially driven.
One thing that really stood out to me this year was seeing retail media broken out as its own component in major RFPs. Retailers are now running holistic pitches but with retail media as a distinct workstream. I have never seen that before and it really shows how strategically important retail media has become, not just for retailers but for agencies as well.
Where do agencies fit into all of this and who is getting it right?
I genuinely believe agencies will be the gateway to scaled investment in retail media in 2026. The agency networks that invest in education, joint business planning structures and deeper collaboration will grow the fastest. Retailers that ignore agency workflows or fail to speak agency language risk being deprioritised. Ease of purchase will be just as important as the quality of data.
That is something people often underestimate. Retailers were not media companies historically, they did not speak media language, but that is changing quickly. Talent is a big part of that shift. As retail media matures, you will see teams move from scrappy build mode into more established commercial, product and measurement leadership.
Expectations from brands and agencies are rising, which means clearer roadmaps, stronger leadership and a real focus on operational excellence.
You have talked about interoperability becoming critical. Why is that such a big issue now?
Interoperability is the biggest unlock for retail media, more so than new formats or more inventory. Agencies and brands want simpler, more connected ways to plan, activate and measure across multiple retail media networks.
The winners will be the networks that remove friction, integrate cleanly with existing tools and give agencies a single view of performance. What has surprised me is that many retailers still want to go it alone.
That creates lots of walled gardens, inconsistent measurement and real difficulty comparing performance. Organisations like ISBA and IAB are doing important work here, similar to what we saw years ago in programmatic, but there is still a long way to go.
The reality is that there are too many networks for agencies to manage effectively. I expect to see more partnerships, alliances and shared infrastructure emerge.
Networks will pair up to create multi retailer audiences, standardised measurement frameworks and shared buying tools. Ideally those tools become white labelled and easier for agencies to adopt at scale. That is how retail media moves from being fragmented to becoming a true investment channel.
Creativity has often lagged behind functionality in retail media. Is that changing?
Retail media has been very functional for a few years, focused on formats, placements and product ads. I think that changes in 2026.
Creativity will come roaring back, with more storytelling, contextual formats and richer media experiences. The networks that successfully merge data and creativity will unlock both brand and trade budgets. That combination is where the real opportunity sits.
Is there a risk that consumers get overwhelmed as retail environments become more commercial?
Retailers are incredibly protective of their real estate, so I am optimistic. There is a place for advertising within the shopper mindset and journey, but it needs to be done thoughtfully. Online advertising in the early days felt like the wild west, with consumers bombarded and followed everywhere. Retail has an opportunity to police this better.
The temptation to chase revenue will always exist, especially under commercial pressure, but my hope is that the industry does not compromise the consumer experience. If it does, it risks damaging what is currently a very pure and trusted ecosystem.
Finally, what defines success for retail media over the next year or two?
2026 will favour networks that simplify, connect and inspire. The category is moving away from fragmentation and towards ecosystems. Those that can unify data, creativity and agency partnerships will define the next chapter of growth.
