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The connected TV ad opportunity is growing significantly in scope. The promise of broad yet targeted reach, retail media tie-ins, campaign measurement, and ad interactivity are fueling strong spending growth.

2024 has been a disruptive year for generative AI (genAI), which transformed from a buzzword into a practical part of marketing workflows, and commerce media as more platforms launch. Meanwhile, advertisers are still figuring out the lifespan of third-party cookies. And connected TV (CTV) advertising got a big boost from Prime Video.

Yesterday, The Home Depot hosted its first in-person retail media marketing summit, InFronts, where it introduced its revamped retail media network, Orange Apron Media. In addition to the new name, the retail media network will expand its services to include a unified on-site/off-site platform, a data clean room solution, and new media partners.

While the retail media opportunity is massive, it requires reaching consumers across a growing number of channels and adapting in real time. Google鈥攚hich receives billions of searches daily鈥攃an help capture new demand, and turn that demand into purchases, by bringing in valuable first-party data to a brand鈥檚 retail media program.

Though there鈥檚 still a ways to go, retail media is evolving toward a system that鈥檚 media- and retailer-agnostic, offering unfettered visibility and optimization potential, increased transparency, and better outcomes for retailers, advertisers, and consumers.

Retail media鈥檚 growth will continue to be fueled by two complementary advertiser needs: the need for measurable sales, and the need for privacy-compliant data that can be used to reach consumers at the top or middle of the purchase funnel.

As China鈥檚 retail media advertising market begins to mature, off-site channels鈥攊ncluding WeChat and Douyin, TikTok's sister app in China鈥攚ill increasingly drive growth.

Amazon is also the dominant retail media network by a considerable margin: It accounted for 76.7% of retail media digital ad spending in 2024 as merchants grappling with economic uncertainty tried to get in front of the retailer鈥檚 engaged customer base. Amazon鈥檚 ad revenues will grow 19.4% in 2025 to $47.52 billion, per our forecast鈥攁n acceleration from this year鈥檚 already strong performance.

Amazon and other retail media networks are not hubs for election ad spending, but the high costs on other channels could encourage advertisers to test unfamiliar ad ecosystems. That dynamic could help forge relationships that extend beyond the election season and make these secondary platforms more consistent parts of ad budgets.

Travel companies leveraging first-party data to power proprietary ad networks are establishing a presence in the commerce media landscape. Advertisers can enhance their digital strategies by incorporating travel into the commerce media mix.

Retail media networks, led by platforms like Walmart Connect, are also incorporating non-endemic advertisers. This strategy uses first-party data to offer targeted ads beyond traditional product catalogs, enhancing revenue opportunities and future-proofing advertising strategies.

As a retail media network (RMN) builds out its data collaboration platform reducing risk should be top of mind. To safeguard user data, RMNs can implement a data clean room and other privacy enhancing technologies to create a trusted environment and propel growth.

Programmatic retail media display ad spending鈥攚hich is still concentrated in nonvideo formats鈥攚ill claim a sizable portion of the spend, as both endemic and non-endemic advertisers continue to funnel their budgets into retail media networks (RMNs). The current numbers for programmatic display ad spending don鈥檛 fully reflect the challenges many web publishers face.

Measurement and attribution are the most critical advertising capability or media investment for over half (53%) of retail marketers worldwide, according to November 2023 data from Mediaocean.

Last month, Dollar General launched an in-store audio network, enhancing its in-store and online ad solutions.

Retail has come off its lengthy run of outperforming overall US ad spending growth. While growth will dip below the average for all industries in 2024, the pace is set to pick up again in 2025 and 2026.

Retailers look for more ways to monetize their customer bases: Kroger, Sam鈥檚 Club, and Best Buy keep seeking new ways to entice advertisers to their retail media networks.

Does a set of standards devalue retail media 苍别迟飞辞谤办蝉鈥� walled gardens? Unilever is trying to convince the industry that it doesn鈥檛, and is urging competitors to come together.

Amazon is the biggest retail media network in the US, accounting for three-quarters of retail media revenue share, per our forecast. But its limited grocery footprint leaves an opportunity for competition. Here are recent updates in grocery retail media, and a prediction on the future of in-store retail media.

Lowe鈥檚 teams up with Yahoo to enhance retail media network: The partnership lets advertisers run off-site omnichannel campaigns and improves measurement and attribution.

Which networks should brands be paying attention to as they refine their retail media strategy? From the king of them all to the ones that are just catching up, here are five retail media networks to keep an eye on this year.

Retail media is moving from its initial state (search and on-site display ads) up the funnel toward social, open web, and connected TV. As retail media networks move into their next era, they should leverage partnerships to explore new channels, said Evan Hovorka, vice president of product and innovation at Albertsons Media Collective.