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The year started with a flurry of commerce media news, from Meijer Media expanding into off-site channels to Microsoft鈥檚 new ad capabilities.

US financial media network (FMN) spend will hit $1.50 billion in 2026, $1.15 billion higher than this year, per our June 2024 forecast.

Retail media will account for about 1 in 5 digital ad dollars this year. That鈥檚 about double the share it held in 2020. We expect it to surpass the one-quarter mark by 2028.

Retail media and ecommerce. Retail media is the fastest-growing ad category we track, and it is expected to remain that way through at least 2028. This year, we expect US retail media ad spending to grow by 26% YoY to $54.48 billion. It will continue growing at annual rates above 20% through 2028, when it will top $128 billion. Most holding companies have agencies devoted to this channel.

Retail media鈥檚 positive hype is real. We expect it will disrupt the digital advertising landscape worldwide. In Canada, a handful of players鈥攍ed by Amazon, Walmart, and Loblaw鈥攈ave turned it into the fastest-growing ad segment in the country, and at scale.

As retail ecommerce penetration and spending continue to rise, technology companies, media purveyors, and retailers are all trying to influence how current and future generations of shoppers will purchase goods and services. Social media platforms have arguably done more to shape this change in consumer behavior than any other kind of company.

Sam鈥檚 Club Member Access Platform (MAP) is launching display ads within its Scan & Go mobile checkout experience as an expansion of its omnichannel retail media formats. The move puts smartphones at the center of in-store retail media advertising, a move more retailers will likely make.

This report is a guideline to help marketers understand retail media through market size estimates, growth projections, and analysis of the complex landscape of buyers, sellers, and intermediaries.

The rise of in-store retail media will prove that the physical store is the next major media channel for brands.

53% of brands often leverage data and media opportunities with retailers that do not carry their products, according to August 2023 data by Merkle.

Our expanded Latin America retail and ecommerce coverage now includes breakouts for 16 markets across Mexico, Central America, and South America. Brazil and Mexico will drive the bulk of net new ecommerce sales this year with a combined regional market share of 75.2%.

There鈥檚 no stopping the retail media juggernaut. At $45.05 billion in US spending in 2023, it鈥檚 already far ahead of connected TV and closing in on traditional TV.

An improving UK economy means digital ad spending in all industries will see healthy growth this year. Retail will still lead total spend, but automotive will receive a boost thanks to significant investments.

POSSIBLE conference reveals retail media鈥檚 potential with loyalty data: Target鈥檚 strategic use of customer info enhances ad trust and multiplies engagement.

US omnichannel retail media ad spend will hit $129.93 billion in 2028, according to our forecast, up from $54.85 billion this year.

With consumers increasingly shopping across multiple channels, Roundel, Target鈥檚 media network, offers comprehensive media solutions that connect brands with customers at every stage. By combining on-site and off-site strategies, advertisers can maximize their return on ad spend and strengthen customer relationships.

Retail media ad spending is one factor driving walled gardens鈥� declining share. Starting in 2024, retail media will be the fastest-growing ad channel we track, and it is still made up predominantly of search ads. As this happens, smaller walled gardens will partner with their behemoth counterparts to prop up their ad businesses.

For retailers with sufficient scale to support retail media networks, extensive customer data boosts the value of their offerings to advertisers. Nearly two-thirds of retailers share or plan to share loyalty data with their retail media advertisers, per Deloitte.

Microsoft鈥檚 new ad network helps retailers build and maintain their own media networks, boasting 鈥渞eady-built demand, expansive ad supply, and access to high-intent shoppers.鈥� Using Microsoft鈥檚 new product can help retailers reach profitability, according to the software company.

Retail media networks are exploding. With third-party data signals dwindling, advertisers are swarming around the first-party consumer data and closed-loop attribution offered by retailers like Amazon and Walmart. Major publishers are betting on direct sales.Those with premium content, like Bloomberg, are opting to take their inventory off the open exchange.