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On today's podcast episode, we discuss why many retailers are choosing now to launch peer-to-peer marketplaces, why consumers might choose IKEA鈥檚 resale platform versus the already established players like Facebook Marketplace and eBay, and what they need to be successful. Listen to the conversation with our analyst Sara Lebow as she hosts analysts Sky Canaves and Sarah Marzano.

Marketplace Pulse. Pentaleap. Skai.

Walmart. Warner Bros. Discovery.

Walmart has expanded its beauty assortment to draw Gen Zers and younger shoppers with buzzy beauty brands such as Bubble, Dossier, and Jake Paul鈥檚 W. It has also launched Premium Beauty on its fast-growing third-party ecommerce marketplace. Target鈥檚 partnership with Ulta Beauty to put shop-in-shops in hundreds of stores across the country has yielded positive results.

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.

Without the advantage of de minimis, Shein and Temu would lose their price advantage relative to players like Amazon and Walmart. The two also face growing competition from Amazon, which is challenging Shein and Temu on their own turf with its own low-cost marketplace, Haul, where all products sell for $20 or less.

We expect online cosmetics and beauty sales to grow more than twice as fast as in-store sales this year, in part due to efforts by Amazon and Walmart to broaden the selection of brands鈥攑articularly premium ones鈥攐ffered on their marketplaces, as well as sales events like Amazon鈥檚 upcoming Holiday Beauty Haul.

Amazon鈥檚 Q2 growth will be more moderate, but Walmart is surging. Retail media is one of the sectors with the greatest exposure to tariffs, and Q1 signaled uncertainty about the months ahead. Both Amazon and Walmart beat expectations but gave tepid guidance.

With consumers increasingly viewing these products as high quality and budget-friendly, retailers like Walmart and Target are investing in innovative, premium private label lines that compete directly with national brands.

Walmart Connect and international expansion power retail giant to 26% advertising growth. Walmart's global advertising revenues rose 26% in Q2 as the US-focused Walmart Connect division outperformed with 30% growth. Walmart Connect's growth has been fueled by a surge in advertiser participation, including marketplace sellers.

However, tariff pricing transparency can be a fraught issue for retailers鈥攅specially in the wake of Amazon鈥檚 dressing-down from the Trump administration following news that it considered breaking out tariff costs for its Haul marketplace.

D2C brands will need to become adept at the cost-effective buying of sponsored product ads on retail media networks (RMNs) as they look to retailers and marketplaces for sales growth. With Amazon鈥檚 ad marketplace becoming increasingly competitive, D2C brands should look to fast-evolving RMNs like Walmart Connect and Roundel (Target) to deliver improved ROAS.

But Klarna鈥檚 recent moves like its Walmart and JPMorgan Payments tie-ups can help it maintain its growth as it figures out what鈥檚 next for its IPO.

Not just Temu and Shein, but places like Walmart, which has launched another marketplace to compete with Amazon as well. Sara Lebow:. It's really wild to be talking about Amazon as no longer the cheapest option.

One year into its retail media network (RMN) journey, Costco is taking steps to stand out in a crowded marketplace by leaning into loyal customers and in-store potential. There are currently over 80 RMNs in the US. And since Amazon holds such a position of dominance in that landscape, it's imperative that competing networks find ways to stand out.

Number one: Walmart for opening a sneaker marketplace, which we talked about during our marketplace episode so check that out if you haven't, and for making its New York Fashion Week debut. Arielle, say more. Arielle Feger (13:57):. Is it a retail ranking without Walmart? Yeah, so they're just really pushing fashion in all sorts of directions. They were at Fashion Week.

Cannes Lions will be an opportunity for those networks that aren鈥檛 Amazon, Walmart, and Target to proactively reinforce their unique value proposition in the event of such a downturn.

While Amazon has a definite advantage over competitors given the strength of its marketplace and Prime offering, it鈥檚 facing competition from the likes of Roku, Disney, and Walmart鈥攖he latter having quietly paused its live commerce experiments in favor of testing interactive shoppable ads on Peacock.

Walmart and Amazon see (mostly) clear skies ahead while Target warns of headwinds. Mass merchants Amazon, Walmart, and Target presented varying pictures of consumer spending in Q3.

What鈥檚 next for retail media? The rapidly expanding ad channel is facing growing pains as the majority of RMNs struggle to keep pace with Amazon and Walmart.

A leaked Adweek-reviewed file details how The Trade Desk partners with 49 retailers worldwide to sell ad placements built on shopper data. The document reveals steep markups and inconsistent rules: Albertsons charges up to 45% of media costs, Best Buy limits custom audiences, Costco sets $100K minimums, and Walmart imposes fees capped at $3.50 CPMs plus measurement charges. Other retailers add restrictions around ad categories or approvals. The leak highlights both the value and complexity of retail media as brands chase audience targeting tied directly to transactions. Transparency remains a challenge, with costs and conditions varying widely by partner.

The company has expanded access to its commerce API, which links Meta ad impressions to third-party marketplace sales. This tool was previously only available to networks with 20,000 or more sellers. Meta is giving some retail media partners direct access to impression logs and product-level performance data, eliminating reliance on third-party measurement providers.

Thanks largely to Amazon and Walmart, search accounts for the majority of retail media ad spending. But even retailers with smaller digital footprints could see their search offerings perk up, as advertisers look to maintain visibility among consumers. Social players鈥� search ambitions may need to be temporarily scaled back.

But No. 2 Walmart will be a big ecommerce winner: Its holiday season online sales will rise 16.8% to $20.37 billion this year. Walmart will see strong growth as it continues to ride the grocery ecommerce wave, absorb consumers who are trading down, and benefit from its expanding ecommerce marketplace.