2026年商业媒体行业报告

COMMERCEMEDIAINDUSTRYREPORT At an Inflection Point:From Experimentation to Evaluation INSIDE FROM RETAIL MEDIA TOCOMMERCE MEDIA What began as retail media has expanded well beyond theretailer. Today, brands are investing across financial, travel,marketplace, and service-based platforms that monetizetransaction data in similar ways. For that reason, this report refers to all such platformscollectively as Commerce Media Networks (CMNs). Notbecause the differences don’t matter, but because thechallenges brands face are increasingly the same: operationalcomplexity, measurement credibility, and the cost of scaling. WHO WE SURVEYED This report is based on a US surveyconducted in December 2025with 100executive, senior, and mid-leveldecision-makers from both retailers andbrands.Respondents span marketing, retailmedia, commerce media, ecommerce,merchandising and shopper marketing rolesand all work at companies with annualrevenue above $50M.Allcommerce ownerssurveyedrun shopper or co-op marketingprograms as well as separate monetizationprograms, while all brand respondents classifythemselves as CPGs. COMMERCEMEDIALANDSCAPE COMMERCE MEDIA ENTERS 2026 AT AN INFLECTION POINT Globally,dentsuMedia research expects commerce media to be a$165.3B business in 2026, maintaining a forecast of double-digit growththrough 2028. In the US, eMarketerstates thatcommerce media willrepresent20% of all US ad spend by 2030. But growth alone no longer tells the story. Commerce media has movedfrom experimentation to evaluation: participation is no longer enough. Brands now reward CMNs that are easier to plan with, easier to evaluate,and easier to defend internally. CMNs, meanwhile, are scaling into cross-functional ecosystems where operational complexity has become thebinding constraint on growth. This year's report examines how both sides of the market are maturing,and what separates the CMNs and brands positioned to lead. KEY THEMES FOR THIS YEAR’S REPORT Commerce media moved from medialine item to commercial strategy Expansion unlocked growth andmultiplied the operating burden Measurement clarity and operationalease now determine who wins budget CMNs are being pulled deeper into retailfunctions spanning media, loyalty, merchant,and data teams. On thebrand side, budgetownership is expanding beyond brandmarketing with omnichannel, sales, andshopper teams.Silos are breaking down butalignment is still catching up. Every new channel adds another workflow,measurement requirement, and integrationpoint. CMNs are absorbing that complexityinternally, while brands have nearly doubledcommerce media spend. The constraint is nolonger demand—it's whether operatingmodels and human capital can scale with it. As commerce media spend grows, brands arebecoming more selective. Clear, comparablemeasurement is now essential. Networks thatsimplify planning, activation, and reporting arebetter positioned to win budget, while thosewith inconsistent KPIs or fragmentedworkflows risk being deprioritized. COMMERCEMEDIANETWORKS TODAY’S REALITY FOR COMMERCE MEDIA NETWORKS Eighty percent of CMNs expect their revenue to increase in the nextthree years, compared to 78% last year. This increase suggests thatCMNs are more confident in their ability to differentiate in a crowdedmarketplace. But optimism comes with awareness. CMNs recognize that the next phase of growth depends heavily onoperational maturity, not just demand. Commerce media isn’t just about premiumaudiences; it’s about connecting with realcustomers at scale in ways that drivemeasurable impact. AustinLeonardVP / GM, Dollar General Media Network TODAY’S REALITY FOR COMMERCE MEDIA NETWORKS Scaling is harderthanlaunching Internalalignmentisnon-negotiable Connected ecosystemswin Measurement maturityseparatesleaders The shift from bespokeprograms to connected,repeatable, and scalableoperating models isunderway, but omnichannelexpansion continues to testexecution capacity. Brands expect CMNs tooperate as one unifiedteam, but siloed structuresand legacy systems haven’tcaught up. How well CMNsinfluence internalstakeholders impacts howwell they operate andscale, which is moreimportant now than ever. "Launching" requirestechnology. "Scaling"requires people, process,and cross-functionalalignment. Measurement remains thebiggest credibility gap, andmost CMNs are still buildingtoward a unified standard thatlets brands benchmarkperformance across networks. As offerings expand,operational complexity,not demand, becomesthe binding constraint. INTERNAL ALIGNMENT ISREQUIRED TO LAUNCHAND SCALE Please rank the following potential concerns or challengesabout your commerce media business in order of how large aconcern they are to your organization. Brands increasinglyexpect commerce media to beconnected to loyalty data, shopper strategy, and themerchant organization.Delivering on thatrequires breakingdown silos and establishing new playbooks and mindsets. Even the largest CMNs are still work