In an exclusive interview with CanadianSME Small Business Magazine, Karamjot Bains, Partner at EY Studio+ and National Ecommerce Leader at EY Canada, offers a clear-eyed view into one of the fastest-evolving forces in modern marketing: retail media networks. As Canadian brands navigate an increasingly fragmented media and commerce landscape, RMNs are emerging as a powerful bridge between customer insight, marketing precision, and measurable growth.
Interview By SK Uddin
Karamjot is a Partner in EY Studio+ focused on the consumer and retail sector and EY Canada’s National Ecommerce.
With deep experience at the intersection of strategy, commercial operations, technology and customer experience, Karamjot works with clients to reimagine how they engage, sell, serve and ultimately drive commercial success in an increasingly digitally engaged world. Karamjot holds an MBA from Rotman School of Management at the University of Toronto and a BASc in Electrical Engineering from the University of Waterloo.
Retail media networks have evolved far beyond sponsored search placements on retailer websites. For readers who may be new to RMNs, how do you define them, and why are they becoming such a vital pillar of modern brand marketing in Canada?
Retail media networks (RMNs) are digital advertising platforms run by retailers that use their own shopper data and direct relationships to connect brands with consumers throughout the entire purchase journey. They allow brands to target specific shopper segments with personalized messages, both online and in-store. What sets RMNs apart is their ability to use a brand’s own shopper data to target audiences with precision, track the impact of ads all the way to actual purchases and measure results in real time. In Canada, this is especially valuable as shopping habits blend digital and physical experiences. RMNs help brands reach consumers at every stage, from when they first hear about a product to when they decide to buy. Their role is growing because they offer brands a way to tell their story, build relationships and drive results in a market where shoppers expect personalized, relevant experiences.
Your new EY Canada report, “Reaching shoppers beyond the cart,” highlights the full-funnel potential of RMNs. In practical terms, what makes RMNs more than a pure sales-driving tool, and how can brands use them to build both awareness and long-term loyalty?
With RMNs, brands can use retailer data to pinpoint and reach the right shoppers, delivering messages that truly resonate. For instance, a brand isn’t limited to targeting people already browsing a retailer’s website, they can also connect with new audiences through channels like social media and connected TV. This multichannel approach means brands can introduce themselves in fresh, relevant contexts, making their awareness campaigns much more impactful.
RMNs also allow brands to personalize their outreach based on actual shopper behaviours, rather than just broad demographic categories. When it comes to measuring success, many brands have traditionally focused on CPM (cost per thousand impressions) which simply counts how many people see an ad. However, CPM doesn’t account for whether those impressions are reaching the right audience or driving meaningful engagement. But RMNs enable brands to look beyond reach, focusing instead on meaningful outcomes like ad recall and repeat purchases. Brands using RMNs not only to boost sales, but also to deepen relationships with shoppers, turning one-time buyers into loyal customers. By tapping into these networks, they can stay top-of-mind, refine their strategies using real insights and build connections that last well beyond the first purchase.
Brands can use RMN first-party data to target qualified shoppers across upper funnel digital channels (e.g., connected TV, social media) and then track the results of the targeting to purchase. This makes RMNs unique. They can help advertisers target qualified shoppers, track meaningfully effectiveness, and reduce wasted spend.
Many brands are still using RMNs primarily for lower-funnel activation. What steps should businesses — especially small and mid-sized consumer brands — take to unlock the full value of RMNs across planning, execution and measurement?
For small and mid-sized brands, RMNs can offer much more than just a quick boost in sales. The first step is to educate your team about the full capabilities of RMNs by sharing case studies and encouraging experimentation to help everyone understand their potential. It’s important to be strategic when selecting which RMNs to partner with, making sure the platform aligns with your brand’s goals and target audience. Rather than treating RMNs as a separate initiative, integrate them into your overall marketing and sales plans so efforts are coordinated and consistent.
When measuring success, move beyond basic metrics like impressions and clicks. Instead, focus on incremental customer lifetime value and adjusted cost per thousand impressions. Testing different campaign approaches, learning from the results, and sharing those insights internally will help refine your strategy. Brands that collaborate across teams, use RMNs thoughtfully, and adapt based on real data will be better positioned to build awareness, drive sales and foster loyalty in today’s competitive market.
RMNs sit at the intersection of marketing, media and commerce, with rich first-party data and closed-loop measurement. How can they help organizations better integrate their marketing and commercial efforts, and what kinds of metrics, such as incremental ROAS or customer lifetime value, matter most?
RMNs are transforming how brands connect marketing and commercial efforts by directly linking ad exposure to actual purchase behaviour. This closed-loop approach means brands can finally see which campaigns are driving real sales, not just clicks or impressions. Instead of relying solely on traditional metrics like ROAS (Return on Ad Spend), which often misses the incremental impact of media investments, RMNs enable brands to use incremental ROAS (iROAS) to measure the true lift generated by their campaigns. iROAS compares sales results between groups exposed to ads and those who weren’t, revealing which audiences and tactics are genuinely moving the needle.
Another valuable metric is incremental customer lifetime value (iCLTV), which estimates the long-term value of new shoppers acquired through a campaign, not just immediate sales. Brands can layer predicted post-campaign sales by shopper segment and refine these estimates with actual spend data, leading to smarter, more accountable strategies. Adjusted CPM (cost per thousand impressions) also matters, as it reflects the quality of the audience reached, not just the volume.
By leveraging RMNs’ first-party data and advanced measurement capabilities, brands can target high-intent shoppers, isolate what’s working and avoid over-investing in loyal customers. This integrated, data-driven approach helps optimize both short-term results and long-term growth.
Looking ahead to 2026, what key trends in Canadian retail media should SMEs be watching, and what advice would you offer leaders who want to experiment with RMNs in a way that is strategic, measurable and aligned with their brand?
Looking ahead, Canadian retail media is set to become even more integrated, with digital and in-store experiences merging seamlessly. Brands should expect more advanced targeting, powered by AI and first-party data, and better measurement tools that go beyond basic sales figures. RMNs will also look to partner with media agencies by sharing their first-party data for better targeting. For small and mid-sized enterprises, the key is to start experimenting with RMNs in a way that’s strategic and measurable. Choose partners that align with your brand, run campaigns that cover the full shopper journey, and use data to refine your approach. Don’t be afraid to test, learn, and adapt. Those who do will be best positioned to thrive as retail media evolves.
Disclaimer:
The views and opinions expressed in this interview are those of the interviewee and do not necessarily reflect the official policy or position of CanadianSME Small Business Magazine. Our platform is dedicated to fostering dialogue and sharing insights that inspire and empower small and medium-sized businesses across Canada.
