— 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.
FAQ on Commerce Media: How to Capitalize on Growth Beyond Retail
EMARKETER outlines how the real expansion opportunity lies in non-retail commerce media networks. The report identifies four evaluation criteria for emerging CMNs: data differentiation, journey touchpoints, audience overlap, and measurement capabilities. Only 13% of non-retail commerce media networks qualify as operationally mature.
Key Data Points
US retail media spend will reach $71B in 2026, but 89% of growth goes to Amazon and Walmart
Only 13% of non-retail CMNs have reached operational maturity
Travel networks offer 3.5 hours of attention per traveler per trip
Commerce Media Trends to Watch in 2026
EMARKETER forecasts that 2026 will be a year of organizational evolution for commerce media, with retailers restructuring internally and financial media networks pushing deeper into shoppable experiences. Agentic AI is emerging as a new monetization surface that could erode the value of traditional sponsored search.
Key Data Points
Sponsored search drives 60%+ of retail media spend but faces disruption from AI agents
In-store digital media represents less than 1% of retail media spend despite 85% of grocery visits happening in stores
Financial media networks have expansive cross-merchant purchase history but lack browsing environments
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