🇬🇧 30 years ago today, Tesco & Clive Humby OBE of dunnhumby launched the modern grocery loyalty era with Clubcard in the UK proving that data-driven customer engagement could transform retail. 🇺🇸 In the US, things evolved a little differently. For years, banks indirectly funded grocery loyalty programs through interchange fees. Then in 2011, the Durbin Amendment capped those fees, cutting off a key funding source. 🛒  Shift to Retail Media: Instead of banks funding discounts, CPGs became the new source of revenue. Brands started paying retailers for digital shelf space in addition to their co-op trade marketing investment at the physical shelf. But you can't have 600+ retail media networks, it's too many for the brands to have to deal with, we've seen this before in publishing and ad networks were required to aggregate the inventory. 🏦 Ready for the next evolution? Financial Media Networks...

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In this episode of The Middlemen Podcast, hosts Tom Limongello and Todd Sawicki sit down with Tom Burgess, President of Snipp Interactive, to delve into the evolving landscape of retail and financial media. Burgess, with over a decade of experience in this space, explains how Financial Media Networks are poised to revolutionize grocery loyalty and CPG marketing by bridging the data gap between banks and retailers. He discusses the historical context, from Tesco’s Clubcard in the UK to the impact of the Durbin Amendment in the US, which shifted loyalty program funding from banks to CPGs. Burgess highlights Snipp’s role in enabling banks like Bank of America and PNC to access SKU-level data, allowing for highly targeted offers and driving “top of wallet” behavior for consumers. The conversation also touches on the challenges and opportunities in this nascent industry, including the need for standardization, the high consumer engagement with bank-led offers, and the potential for these networks to overcome the fragmentation seen in traditional retail media.

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Find Tom Burgess on LinkedIn

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