The news: A newly released commerce media study from Forrester Consulting and Koddi shows that while many companies are eager to build their own networks, only a small minority have the infrastructure and operational discipline to support a fully scaled program.

• Although 42% of respondents believe they are “operationalized” to advance their commerce media initiatives, the maturity assessment finds that just 13% qualify as advanced when evaluated across leadership, technology, measurement, and operations—a gap the report describes as a “confidence-versus-capability” divide.
• The study categorizes participants into 49% nascent, 38% emerging, and 13% trailblazers, revealing that most teams are still in early stages of proving value.

Why it matters: Advertisers want evidence of tangible business outcomes, yet most current commerce media initiatives lack the automation, integration, and reporting structure necessary to provide it.

Key friction points surfaced in the report include:

• Siloed workflows and disconnected tools that slow execution and complicate cross-channel alignment. Manual creative reviews and limited automation create friction; only 16% say they “centrally manage and automate creative development and approval across placements."
• Inconsistent reporting and limited closed-loop attribution—with just 12% able to measure performance across onsite, offsite, and in-store environments.
• Fragmented data systems that restrict first-party targeting and personalization, despite most networks prioritizing better use of their own data.

The study notes that every vertical surveyed—from retail to transportation—shares the same ambition to unify data, automate processes, and deliver measurement that advertisers trust. But most remain constrained by legacy systems and uneven operational maturity.

What it means for advertisers: The data reinforces the central theme that interest in commerce media far exceeds actual readiness.

• Many organizations have established offerings in name only but lack the connected tech stack and automated workflows required to scale. Trailblazers distinguish themselves by linking data, creative, and attribution into cohesive systems that reduce manual work and improve speed to market.
• For marketers evaluating potential partners, the spread in maturity levels indicates the importance of vetting whether a network can truly provide accountable reporting, audience precision, and dependable creative execution. For sellers, improving measurement clarity and automating repetitive tasks may be the clearest paths to earning incremental spend.
• The report also suggests that cross-industry learning is accelerating. Retail excels in onsite monetization; financial services demonstrates strong data stewardship; and travel offers end-to-end intent visibility. The next wave of growth will likely come from blending these strengths into more unified, performance-oriented programs.

What it means for financial media networks: As the smallest commerce media vertical, financial media networks (FMNs) have the opportunity to explode, if they plot their expansion carefully: We forecast that FMNs will exceed $1 billion in US ad spend by 2026, growing at 66.8% CAGR through 2027.