• Ahold Delhaize-owned Peapod Digital Labs has announced its intention "to grow its media network – AD Retail Media – by building an end-to-end, in-house retail media business."
The in-house decision means that the company will launch "a unified on-site and off-site platform to deliver a single point of activation and measurement," leverage "proprietary data to create more targeted ads and improve returns on ad spend," and enable "one dashboard for transparently measured campaign results spanning transactions made on-site and across the web."
"“Retail media is already a sizable percentage of total advertising spend – with forecasts showing it will continue to grow significantly,” said JJ Fleeman, President, Peapod Digital Labs, in a prepared statement. “By bringing AD Retail Media inhouse, we will create a connected go-to-market offering for CPGs, grounded in new capabilities, simplicity and value generation. As the space continues to grow, we’re proud to invest in retail media to continue to propel our companies – and our CPG partners – forward.”
• Bloomberg reports that Amazon "faces a UK class-action lawsuit over claims the tech giant uses a 'secretive' algorithm to abuse its dominant position in the online marketplace.
"Amazon has made millions of customers pay more by hiding better deals on platforms to boost its own products, Hausfeld, the law firm behind the case, alleges. It does this by using a 'secretive and self-favoring algorithm' in its Buy Box feature.
"A spokesperson for the Seattle-based company said the claim 'is without merit and we’re confident that will become clear through the legal process'."
• Add Amazon founder Jeff Bezos "to the chorus of voices warning of hardship ahead for the US economy," the BBC reports.
"The probabilities in this economy tell you to batten down the hatches," Bezos writes on Twitter.