— RESEARCH
Insights for Loyalty Ecosystems
Industry research from BCG, EMARKETER, and leading analysts on the growth of commerce media networks — and why non-retail enterprises with first-party loyalty data are best positioned to capture the next wave.
Retail Media Ad Spending Forecast and Trends H2 2025
EMARKETER forecasts US retail media spending will reach $69B in 2026, with Amazon and Walmart capturing 89% of incremental dollars. The report highlights the growing bifurcation between dominant platforms and smaller networks, reinforcing the opportunity for differentiated non-retail commerce media.
Key Data Points
US retail media spending will grow from $58.8B in 2025 to $69.3B in 2026
Amazon and Walmart will capture 89% of incremental retail media spending
17.2% CAGR through 2028 for the overall retail media category