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Retail media as a growth engine with Steve Gray

July 23, 2026
Steve Gray
Director, SG-retail

In this episode of The Retail Media Show, Mike Nicholson speaks to Steve Gray, Director of SG-retail, about the evolution of retail media, how brands grow and why retail media networks should be built as collaborative growth engines rather than simply advertising businesses.

Steve draws on his experience leading the development of one of the earliest advanced retail media networks and advising retailers internationally, connecting marketing science, customer data, retail execution, measurement and operating models.

In this episode:
  • What matters more in retail media: 'Retail' or 'Media'?
  • How brands grow through customer penetration
  • The relationship between physical and mental availability
  • Why retail media has a unique growth proposition
  • Why retail media should be a growth engine rather than only an ad sales business
  • How retailers can build and optimise effective retail media networks
  • How retail media has evolved since its early data-led beginnings
About The Retail Media Show

The Retail Media Show is a weekly conversation with the people building, buying and shaping retail media. Hosted by Steve Gray, it brings together retailers, brands, agencies and technology leaders to explore what's changing, what's working and what comes next.

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SG-retail helps retailers turn retail media ambition into practical, commercially effective propositions.

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About SG-retail

SG-retail helps retailers turn retail media ambition into practical, commercially effective propositions. We work with retail businesses to shape strategy, strengthen capability and create the operating models, propositions and partnerships needed to make retail media work in practice.Our focus is on building approaches that are commercially valuable, customer-led and sustainable — helping retailers move from opportunity to execution with greater clarity and confidence.

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