蘑菇AV

through retail media networks that may not appear on ecommerce sites or apps.

Temu switches gears: After spending billions in its attempt to conquer the US, Temu is now quietly backing away in favor of markets like Europe, where it is鈥攆or the time being鈥攅asier for Chinese ecommerce marketplaces to operate. The retailer is increasing ad spending in Europe while it massively dials down its US campaigns.

Shein, Temu take advantage of tariff reprieve: Shein is raising prices while Temu resumes China shipments, as both retailers try to undo a sales slump.

US shoppers are already turning away from Temu鈥攁nd fellow Chinese ecommerce operator Shein鈥攄ue to higher prices in response to tariffs and the removal of the duty-free benefit. While Temu faces fewer trade barriers in other markets, a growing movement worldwide is pushing to eliminate de minimis for low-value Chinese imports.

Shein considers restructuring to minimize tariff, de minimis impact: But any move to shift production out of China could provoke Beijing鈥檚 ire鈥攁nd derail its long-awaited IPO.

No other market in the world comes close to China when it comes to ecommerce. Its highly competitive digital market has spurred retail innovations that are making their way around the world.

The retail outlook for 2025 is worse than previously anticipated. However, many smaller emerging markets are still in line for strong years, and ecommerce continues to claw share from traditional retail.

Luxury brands are grappling with downturns in the US and China, the largest markets for personal luxury goods, and will have to seize opportunities for growth from new markets and product innovation.

Tariffs drive ad pullbacks: Temu and Shein reduce US ad spending ahead of policy shift, signaling fallout across ecommerce and social platforms.

Uncertainty creeps into US spending: Luxury companies can no longer rely on US consumers to pick up the slack as Chinese shoppers curb their spending. While LVMH noted that the American consumer cohort has stayed fairly resilient, particularly in the fashion and leather goods segment, shoppers are spending less locally.

Meta under fire on multiple fronts: Teen-targeting claims, a high-stakes FTC trial, and Chinese advertiser pullback could reshape the company鈥檚 ad model.

Trump quadruples de minimis duties on Chinese imports as trade war escalates rapidly: The new fees will not only erase Shein鈥檚 and Temu鈥檚 price advantage, but also hit US businesses hard.

Many retailers in Latin America like Mercado Libre, Rappi, and even Walmart function not only as commerce players, but as financial institutions as well. As a result, commerce media in Latin America is charting a different course than it has in the US, one that could result in unique opportunities for companies with access not only to shopper habits, but to financial data as well.

That will deal a considerable blow to luxury brands, which have become increasingly reliant on US consumers to make up the shortfall as Chinese shoppers pull back on expensive purchases. There is also the possibility that a drawn-out trade war will further curb Chinese consumption, creating an even more difficult operating environment for luxury brands.

Trump鈥檚 鈥淟iberation Day鈥� tariffs landed harder than expected. Uncertainty remains, given the pause on reciprocal tariffs for countries willing to negotiate with the US鈥攁long with an escalating trade war with China. Which markets will take the greatest hits? And how might our US forecasts change?

Marketplaces will continue to expand their share of US retail ecommerce as new players with roots in China vie for prominence.

The rise of shopping apps selling ultralow-cost goods from China is drawing more value-driven US consumers. But are their strategies sustainable over the long term?

The majority (80.9%) of worldwide retail media ad spend will take place in China and the US this year, according to a March 2025 蘑菇AV forecast.

The news: China is outpacing the US in retail media鈥檚 global rise, with nearly half of its digital ad spending now flowing through retail platforms. While Amazon still leads globally, its growth is slowing鈥攅xpected to rise just 18.6% in 2025. Meanwhile, players like Uber Eats, Meijer, and Albertsons are growing ad revenues at triple-digit rates. Our take: Retail media is becoming more fragmented and competitive. Success now requires portfolio diversification, especially as new channels鈥攍ike last-mile delivery and in-store signage鈥攇ain momentum. What began as an Amazon-centric, US-led trend is now a worldwide shift reshaping how consumers discover, consider, and buy.