The moment. Walmart’s advertising business grew 38% and lifted full-year guidance in the same quarter its core sales growth hit a six-year low. Commerce media spend reached $83.71 billion and accelerated to 25% growth in Q2, outpacing retail itself, while WARC put retail media above $200 billion for 2026 with growth slowing to single digits. Simon Property Group and Topgolf both launched networks.
The tension. Retail media is growing considerably faster than the retail underneath it, which makes the ad business the growth story and the shop the inventory. The newest entrants are selling square footage and tee times rather than shelves, and calling it commerce.
Who’s moving. Walmart and Target, both posting double-digit ad growth. Simon Property Group, turning malls into a network. Topgolf, selling out-of-home as commerce media. TikTok Shop, seeding demand that Amazon then closes.
What the desk is watching. Whether frequency capping ever starts working, since it still fails with mature data tools, and whether mall and golf inventory is commerce media or out-of-home with a loyalty file attached.
Amazon launched “Update Me When,” an Alexa for Shopping feature that sends personalized alerts on new product lines, show seasons, concert tours or book releases tied to a shopper’s interests.
Sep 1Amazon Ads launched First Day Ready, pairing Gatorade, Michael Kors and SharkNinja with influencers across shoppable video, brand storefronts, a Wisconsin campus block party and a Kane Brown concert streamed on Prime Video, Twitch and Fire TV.
Sep 1Mark Ritson argues at Adweek that marketers are wrongly raiding brand-building budgets to fund retail media, treating it as incremental when it is really just point-of-sale promo marketing rebranded.
Aug 31Nike named 14-year Walmart veteran Jane Ewing chief commercial officer, starting Sept. 7, reviving a role it eliminated in December. Ewing will lead global marketplace operations, overseeing sales and Nike Direct, reporting directly to CEO Elliott Hill.
Aug 30Retail media ad impressions dropped to 107.4 billion in Q2 2026, according to EMARKETER data. The decline marks a pullback in inventory volume even as retail media remains one of the fastest-growing ad categories overall.
Aug 28The world’s largest mall operator debuted Simon Media Network, a programmatic ad vehicle built on loyalty data, opted-in WiFi location tracking and licensed third-party purchase data.
Aug 27EMARKETER reports commerce media spend keeps climbing while marketing teams lack the tools to run full-funnel campaigns — buyers want awareness and conversion in one system.
Aug 27Walmart’s global ad business grew 38% in the second quarter — Walmart Connect up 43% in the U.S. excluding VIZIO — helping lift total revenue to $187.9 billion and beat earnings estimates.
Aug 26Sellers report a “halo effect”: TikTok Shop virality drives Amazon sales at 1.5–3x the TikTok volume, per Million Dollar Sellers — shoppers discover on TikTok, then buy on Amazon for Prime shipping, reviews and price.
Aug 26The Drum’s documentary series returns, featuring leaders from TikTok and Google discussing how commerce media is reshaping product discovery. The episode examines who now decides what consumers buy as retail, search and social converge into one purchase funnel.
Aug 25EMarketer forecasts US commerce media spend at $83.71 billion this year, 20.5% of digital ad spend. Its analysts say the channel is maturing past growth-for-growth’s-sake into a phase demanding measurable results and consumer trust.
Aug 25Topgolf’s new CEO David McKillips is building out a retail media and licensing business, launching Topgolf Media Networks in July. The unit combines sponsorships, retail media and licensing across 103 venues, 28,000 screens and a mobile app.
Aug 25Colgate-Palmolive’s Keith Lehmann says the tech to stop retargeting past buyers already exists, but campaign volume and disconnected data cause repeat ads anyway. One pharma brand hit him with 24-25 ads in a single session.
Aug 24Back-to-college spend tops $100B this year, with $14B on dorm furnishings. Urban Outfitters’ merchandising chief details using an Insiders ambassador program and Reddit to catch trends like “bed parties” before rivals do.
Aug 24Madison & Wall reports U.S. commerce media grew 25% year-over-year in 2Q26 excluding political spend, up from 24% in 1Q26. E-commerce sales grew 12% versus 6.7% for total retail, fueling the channel’s lead.
Aug 23Walmart’s global ad revenue grew 38% year over year, with Walmart Connect up 43%, prompting a raised full-year guidance. Target’s Roundel grew 28.6% to $279 million, helping fuel the retailer’s broader recovery.
Aug 21Walmart’s global ad revenue jumped 38% in Q2, with Walmart Connect up 43% in the U.S. excluding Vizio, prompting the retailer to raise its full-year earnings guidance amid strong ecommerce and tariff refund tailwinds.
Aug 21WARC projects global retail media spend hits $200.4B in 2026, $223.4B in 2027. Excluding Amazon, growth falls to 9.8% in 2027, the category’s slowest pace since WARC began tracking it.
Aug 21Target’s Q2 net sales rose 5.3% to $26.5 billion while profit more than doubled to $1.87 billion, aided by tariff refunds. Roundel, its ad network, grew ad revenue 28.6% to $279 million, outpacing overall retail growth.
Aug 20