Future-Proofing Retail Media for the Next Chapter

As Retail Media Moves Beyond Its Boom Phase, a Strategic Evolution Is Necessary

Report by Sarah Marzano  | Apr 4, 2025
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Table of Contents
Executive Summary
Retail media’s next chapter won’t be one-size-fits-all
Retail media owes its blueprint to Amazon, but copying its strategy has limits
Advertisers' growing confidence in retail media deepens the knowledge gap and jeopardizes investment
Breaking down silos between RMN teams and merchandising is a crucial next step
EMARKETER Interviews
Sources
Media Gallery
About This Report
Retailers that aimed to be media giants are hitting headwinds as ad growth slows. To stay competitive, retail media networks must rethink org structure, sharpen media skills, and plan smartly to thrive in a more challenging landscape.
Topics
Retail Media
Digital Advertising
United States
Table of Contents
Executive Summary
Retail media’s next chapter won’t be one-size-fits-all
Retail media owes its blueprint to Amazon, but copying its strategy has limits
Advertisers' growing confidence in retail media deepens the knowledge gap and jeopardizes investment
Breaking down silos between RMN teams and merchandising is a crucial next step
EMARKETER Interviews
Sources
Media Gallery

Retailers that set out to become media companies during retail media boom times are facing a reality check: YoY ad spending has slowed, leaving the landscape dominated by just a few retail media networks (RMNs). To withstand a leaner era, RMNs must evaluate their organizational structures, uplevel their media expertise, and carefully plan their next moves.

Key Question: What key challenges are RMNs facing as they prepare for the next phase of growth?

Retail Media Ad Buyers Want a More Cohesive Strategy From Their Retail Partners (% of US sell-side retail media decision-makers, Aug 2024)
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Key Stat: More than two-thirds (66%) of advertisers say that a connected strategy across retail media, loyalty, and merchandising teams is one of the most important services RMNs can offer.

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    Table of Contents

    1. Executive Summary
    2. Retail media’s next chapter won’t be one-size-fits-all
    3. Retail media owes its blueprint to Amazon, but copying its strategy has limits
    1. Advertisers' growing confidence in retail media deepens the knowledge gap and jeopardizes investment
    2. Breaking down silos between RMN teams and merchandising is a crucial next step
    3. EMARKETER Interviews
    1. Sources
    2. Media Gallery

    Charts in This Report

    Retail Media Ad Buyers Want a More Cohesive Strategy From Their Retail Partners (% of US sell-side retail media decision-makers, Aug 2024)Amazon Leads in RMN Ad Dollars, but the Gap Narrows in Individual Ecommerce Share
    Amazon Has Nearly 5 Times the Digital Traffic of Its Next Largest Retail Competitor (millions in US desktop/mobile visits, by retailer, Dec 2024)Retail Media's Next Chapter Will Be Nonlinear
    Retailers Outsource Sales and Technology, But More Likely to Keep Creative and CRM In-House (% of US sell-side retail media decision-makers, Aug 2024)Retail Media Is Redefining Retailer-Brand Relationships

    Interviewed for This Report

    Eric Brackmann
    Koddi
    Vice President, Commerce Media
    Interviewed March 7, 2025
    Jeffrey Bustos
    Merkle
    Senior Vice President, Retail Media Analytics
    Interviewed March 6, 2025
    Megan Cameron
    Dentsu
    Executive Vice President, Retail Media Solution Lead, New Stream Media
    Interviewed March 6, 2025
    Drew Cashmore
    Vantage
    Chief Strategy Officer
    Interviewed March 4, 2025
    Mark Heitke
    Symbiosys
    Vice President, Retail Media Strategy
    Interviewed March 5, 2025
    Stephen Howard-Sarin
    Criteo
    Managing Director, Retail Media, Americas
    Interviewed March 7, 2025
    Elizabeth Marsten
    Tinuiti
    Vice President, Commerce Media
    Interviewed January 25, 2025
    Justin Sparks
    SMG
    Vice President, Business Development, North America
    Interviewed March 25, 2025

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    authors

    Sarah Marzano

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