Nearly every major retailer (and many smaller ones) has already launched media networks, but it’s not just for retailers anymore. While networks beyond retail have already begun to launch, 2025 will see more financial institutions, payment networks, travel companies, fitness centers, and more launch or revamp their own media networks. And as commerce media expands, so do the places ads are being served.

US commerce media ad spend will reach $69.69 billion this year, a growth of 21.8% over 2024, per EMARKETER’s December 2024 forecast. Existing media networks and new entrants alike will be looking to capture a share of the nearly 1 in 5 digital ad dollars going to commerce media this year. Here are three areas to which commerce media dollars are migrating.

1. In-store inventory

US in-store retail media ad spend will climb 45.5% this year, per EMARKETER’s November 2024 forecast. In-store will account for just 0.8% of omnichannel retail media ad spend, a total of $530 million. As commerce media networks integrate online and offline shopping data, in-store spend will continue to grow.

2. Off-site investments

More than 1 in 5 US retail media dollars will be spent off-site, per EMARKETER’s December 2024 forecast. These ads use retailer data to target consumers on connected TV (CTV), social media, third-party websites, and beyond. This kind of spend is growing because first-party retailer data is becoming more valuable, and because retailers can only serve so many ads on their owned and operated properties. Retail media platforms like supply-side platforms (SSPs) and demand-side platforms (DSPs) can help service off-site offerings.

3. Swimming up the funnel

Retail media was initially seen as a lower-funnel form of advertising, where ads were served in search results, immediately next to the point of purchase. But as search results on retailer websites got more cluttered and as the path to purchase has become more complex, media networks have found ways via display ads and off-site ads to make commerce media a full-funnel channel.

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