Walmart's leadership change is unlikely to change the retailer’s strategy in 2026 as it makes gains in technology, ecommerce, and advertising.

As 2025 closes, we’re assessing where our predictions for the payments industry went wrong, specifically for pay-by-bank solutions for major retailers.

While online pharmacy is booming, access to an in-person pharmacist remains important. Expect chains to focus on smaller, health-focused stores and expand their digital services in 2026.

Retailers faced a challenging year as economic factors, new technologies, and changing consumer behaviors reshaped the landscape. Here are our top five stories from this past year and what they meant to a tumultuous industry.

In 2025, retail media found itself at a turning point as networks, advertisers, and platforms pushed into new territory and redefined what the channel could be. Here are five of our top stories from the year, from the challenges of tracking CTV campaigns to the evolving competitive landscape shaped by Amazon, Walmart, and a wave of innovative smaller networks.

Retailers with a well-defined identity delivered strong growth in 2025.

Walmart’s OnePay adopted Google’s Agent Payments Protocol (AP2) to drive agentic commerce as a credentialled provider, per a press release. With Chrome remaining consumer’s most popular browser, Gemini is narrowing the gap with ChatGPT as the most used chatbot: We forecast that by 2029, Gemini will hold 53% of genAI market share. That in turn could give Google’s AP2 a large share of agent-driven consumer spend in the long term, as consumers develop loyalty and use patterns around AI platforms.

Walmart wants discretion to refuse cards based on their issuer at the point-of-sale, per an objection filed in response to the proposed settlement to end the decadeslong interchange fee legal battle. While new types of fee agreements with banks remain entirely speculative at this point, it’s unclear whether a patchwork quilt of deals with issuers would benefit Walmart. Discontinuing acceptance of certain issuers at the POS will likely cause just as much friction for consumers as the purportedly “useless” changes to the honor all cards rule, especially if Walmart stands alone in its issuer blacklist.

The FDA sent warning letters to four major retailers that continued to sell baby formula linked to a botulism outbreak after the products were recalled in early November. As retailers move deeper into health and wellness, their daily operations need to support the image they’re trying to build.

In 2026, personal lines insurers will face a market reshaped by changing demand, risk, and consumer expectations. Growth hinges on smarter digital engagement, genAI transformation, richer data, real-time risk insights, and emerging coverage areas.

The Home Depot launched a new creator portal this week, a hub where creators can access content inspiration, campaign opportunities, and expertise to build content around home improvement, DIY projects, and decor tips.

Amazon's recent business moves, examining corporate layoffs, AI-powered shopping features, and new smart glasses technology for delivery workers paint an interesting view of its immediate future and what it could mean for consumers.

Q3 consumer spending looked steady, but the gains were fueled mainly by higher-income shoppers, revealing a split landscape that bolstered value and essentials retailers while squeezing brands dependent on discretionary and big-ticket projects.

Amazon’s move to fold perishable groceries into same-day delivery is paying off quickly, with nine of the top 10 best-selling items in eligible markets now perishables—a sign that shoppers trust the faster service for everyday needs. The shift supports CEO Andy Jassy’s bullish stance on grocery as Amazon expands same-day perishables to more than 2,300 locations and builds on more than $100 billion in online grocery sales over the past year. With Walmart and Kroger also ramping up rapid fulfillment, the stakes are rising in a grocery ecommerce market surging in both order frequency and value.

Despite multiple pivots and significant investments, Amazon continues to struggle in a sector that represents one of the largest consumer spending categories. "Amazon dominates ecommerce with nearly 40% market share, but grocery remains the category it just can't crack," said our analyst Suzy Davidkhanian on a recent episode of “Behind the Numbers.”

Pinterest is piloting a new shoppable recipe format with Walmart’s help. Select recipes now feature a “Shop Ingredients” button that lets users add ingredients directly to their Walmart carts. The pilot fits squarely with Pinterest’s broader goal to make every pin on its platform shoppable, a strategy designed to fully monetize its influence over product discovery and shopping trends. It also fits with Walmart's aim to establish a presence on as many shopping channels as possible, be it social commerce or ChatGPT.

Amazon, Target, and Walmart are stepping up their holiday fulfillment efforts to reassure late shoppers that gifts will arrive before Christmas. Amazon is adding clear “Arrives before Christmas” messaging and enabling delivery or pickup on many items through Christmas Eve, while Target is extending store hours and leaning on rapid curbside, in-store pickup, and same-day delivery. Walmart is expected to match or exceed last year’s Christmas Eve express cutoffs. These moves highlight how crucial last-minute reliability has become, as faster delivery speeds increasingly shape where shoppers spend and give retailers with strong fulfillment networks a powerful competitive edge.

Amazon is testing ultra-fast delivery for fresh groceries and other household essentials in some areas of Seattle and Philadelphia. The service, called Amazon Now, allows shoppers in eligible neighborhoods to receive thousands of items in 30 minutes or less. While Amazon continues to invest in its brick-and-mortar grocery business, enhancing its ecommerce initiatives appears to be taking precedence. Speeding up delivery could help Amazon extend its foothold in grocery while keeping shoppers wedded to its platform, but our forecast expects its share of digital grocery sales to dip as Walmart, pure-play grocers, and intermediary delivery platforms grow their piece of the pie.

Walmart finalized its Vizio acquisition one year ago, a move that clearly telegraphed its advertising ambitions and positioned it to be a dominant retail media player. Vizio considerably strengthens Walmart’s pitch to advertisers by giving it more opportunities to get in front of engaged audiences and providing more data for better targeting and measurement. Walmart’s newfound CTV capabilities also help establish the retailer as a full-funnel ad solution, increasing its appeal to both endemic and nonendemic brands.