Jérémy Hoy: “"ROAS (Return On Ad Spend) is a simple metric, but it’s dangerously limiting”

The digital commerce landscape is undergoing a major transformation. With the rise of generative AI, the boom in social commerce, and the growing number of data sources, brands are finding it increasingly challenging to navigate this complex environment. To help decode these trends, turn obstacles into opportunities, and envision the future of marketing, we spoke with Jérémy Hoy, Head of Commerce at WPP Media. He shares his insights, strategic perspective, and advice for staying ahead.

WPP Media: Hello Jérémy, can you start by introducing your role and explaining how your department helps advertisers turn the complexities of the commerce ecosystem into opportunities?

Jérémy Hoy: Hello! Of course. I had the privilege of founding this department six years ago. We are the hub of commerce and e-commerce expertise within WPP Media. Our mission is to simplify the complexities of the commerce landscape. In practical terms, we help our clients make strategic decisions to optimize their distribution and media strategies. This includes retail media and e-retail media: how to succeed on platforms like Amazon, Carrefour, Sephora, Fnac Darty, and more—over 50 retailers monetizing their inventory in France. It’s an exciting space, but its fragmentation demands specialized expertise to determine where and how to invest wisely—not just in media but also in merchandising. It’s about ensuring the right products are on the right shelves with the right promotional strategies, even before thinking about advertising. Conversely, it’s also about ensuring campaigns promote the right products available in stores, aligned with the trade marketing team’s goals.

WPP Media: You highlight an important distinction between "Retail Media" and "Commerce Media." How can brands shift their strategy from one to the other to gain a competitive edge?

Jérémy Hoy: Absolutely, this is where the landscape is evolving. Traditional retail media involves distributors monetizing their inventory and audiences. Commerce Media, on the other hand, expands the scope: new players outside the distribution sector are entering the field with exclusive data. For example, Mastercard recently launched its media offering, leveraging anonymized transactional data to create highly targeted audiences. A hotelier, for instance, can reach frequent travelers—even those who aren’t current customers. This is the power of actionable purchase data.

Another major development is TikTok. With TikTok Shop, the platform has become a merchant in its own right. By integrating transactions directly into entertainment, its growth has been phenomenal: launched in May in France, TikTok Shop already accounts for 1% of French e-commerce. In a market worth 175 billion euros, that’s a staggering achievement in such a short time.

For brands, incorporating Commerce Media into their strategy requires rethinking three key areas:

• Internal organization: Breaking down silos between trade marketing and media marketing is essential. This is precisely why WPP Open functions as a unified operating system.

• Full-funnel vision: Brands need to move beyond a purely bottom-funnel approach and use commerce data to inform media planning across the entire customer journey.

• Channel strategy: For brands balancing direct-to-consumer (D2C) and indirect distribution, it’s crucial to develop a synergistic investment strategy that avoids cannibalization.

"ROAS (Return On Ad Spend) is a simple metric, but it’s dangerously limiting. While it’s useful as a control indicator, it shouldn’t hinder growth strategies or overlook long-term value."

WPP Media: You advocate for moving beyond ROAS to adopt more advanced KPIs. What challenges are holding back this shift, and how is WPP Media driving progress?

Jérémy Hoy: The main obstacle isn’t technology—it’s the willingness of merchants to share more detailed KPIs. Brands need to collaborate more effectively, organize themselves better, and agencies must ask the right questions. The future lies in more nuanced business KPIs, such as incremental sales, new customer acquisition, and lifetime value. That’s where we come in. We’re currently engaging in strategic discussions with retailers to integrate deeper data and develop these new measurement models. To turn this vision into actionable results, our Open Intelligence platform—a Large Marketing Model—is a true "game changer." It connects proprietary data from our advertisers, our 350 partners (including walled gardens), and our own systems to measure what truly matters: growth, customer acquisition, and lifecycle value.

WPP Media: Looking ahead, what do you see as the major transformation that will redefine the Commerce Media landscape by 2030?

Jérémy Hoy: Without hesitation, two forces are reshaping everything: generative AI and authentic social commerce.

Generative AI is becoming the new gateway to the customer journey. A recent study by the Capgemini Research Institute revealed that 58% of consumers already prefer AI tools over search engines for product recommendations, which is revolutionizing SEO strategies and providing valuable insights for product development. Generative AI is also becoming transactional: OpenAI is partnering with Shopify, Stripe, and Walmart, enabling the entire purchase journey to happen within a single app. Soon, your AI assistant will act as your personal shopper, handling everything from recommendations to transactions.

Authentic social commerce, exemplified by TikTok, is the second major wave. Its explosive growth demonstrates that entertainment and shopping are now intertwined.

The message is clear: with AI transforming into a shopping advisor and social platforms evolving into marketplaces, the landscape is being completely reinvented. For brands, the opportunities are enormous—but seizing them requires boldness and the right partners to navigate this exciting future.

The 3 Key Takeaways from Our Discussion:

• Pivot to "Commerce Media": The game has changed. Alongside traditional e-commerce players and distributors, new actors (payment platforms, social networks, etc.) are bringing exclusive data, unique audiences, and disruptive customer journeys.

• Move Beyond ROAS: To effectively drive growth, concentrate on business-focused KPIs such as incrementality, new customer acquisition, and lifetime value.

• Prepare for the Dual Revolution: Generative AI is becoming a transactional entry point, while Social Commerce is merging entertainment and purchasing. Standing still is no longer an option.