Retail media networks (RMNs) are on the brink of a major shift. While they are poised to capture over 20% of ad spend in 2025, on-site monetization won’t be the growth driver it once was. With advertisers consolidating spend among just six or seven RMNs on average, including giants like Amazon and Walmart, it’s hard for smaller RMNs to compete.
Off-site retail media ad spend is projected to grow 42.1% in 2025 – nearly three times the rate of on-site growth (15.1%), according to eMarketer’s November 2024 forecast. This dramatic shift underscores that while on-site placements are maturing, off-site is where the momentum (and money) is heading.
To remain competitive, RMNs must move beyond traditional, on-site placements and embrace a broader, more integrated approach to media activation. The future of retail media is about utilizing enriched first-party data to drive performance across the open web, connected TV (CTV), and other digital channels.
Break free from your owned and operated properties
Historically, RMNs have limited ad placements to their own digital properties. While this approach has delivered high-margin returns – on-site ad margins can reach 70-90%, compared to 20-40% for off-site – it’s also inherently limiting. Retailers only have so much owned inventory to sell, and advertisers demand greater scale and flexibility. As brands push for more reach, RMNs must extend their impact beyond owned-and-operated (O&O) properties.
Omnichannel retail media ad spending is forecast to hit $61.2 billion in 2025. Brands are looking beyond retail sites to build integrated, multi-channel strategies that drive results across the funnel.
eMarketer
Off-site doesn’t just mean digital. Walmart’s recent expansion of its Fuel and Convenience stations – planning to open or remodel 45 in 2025, bringing the total to 450 – shows how physical spaces are also becoming extensions of a retailer’s media network. These locations create new touchpoints where advertisers can engage shoppers with timely, context-aware messaging while they fuel up or grab a snack.
These quick-stop environments are ideal for limited-time offers or impulse-triggering messages – especially since 68% of U.S. adults say discounts contribute to their latest in-store impulse purchase.
Maximize the value of first-party data
One of retail media’s biggest promises is the power of first-party data for precision targeting. While on-site ads are inherently lower-funnel, off-site activation allows advertisers to move up the funnel and apply retailer customer data holistically across the open web.
For example, DoorDash and Macy’s now offer self-service audience data to advertisers via The Trade Desk, allowing brands to target consumers programmatically. Meanwhile, Walmart is taking a different approach – cloning The Trade Desk’s technology to maintain its walled garden. These moves demonstrate how retailers are rethinking data monetization strategies to scale beyond O&O limitations.
Drive new revenue streams with off-site activation
Off-site activation enables RMNs to drive incremental reach on channels where audiences are actively engaging, including CTV, programmatic display, and social media. This expansion allows brands to connect with consumers beyond retail websites.
Retailers are also utilizing non-endemic advertising opportunities in environments like gas stations and kiosks. Unlike traditional grocery or apparel aisles, these spaces are brand-neutral, allowing advertisers who don’t sell products in-store to still activate campaigns using retailer data. In fact, 53% of brands have already partnered with a retailer that doesn’t carry their product, and that number is expected to grow as advertisers seek new ways to tap into retail media’s rich targeting capabilities.
Retailers looking to extend the value of their data beyond O&O inventory have two primary off-site opportunities:
First, they can use an identity graph to resolve customer identifiers into addressable IDs that can be enriched with additional attributes and activated across channels like the open web and CTV. This allows retailers to find and reach known customers with relevant messaging outside of their owned platforms. For example, a grocery RMN can identify lapsed snack buyers and deliver streaming TV ads that reengage them on CTV platforms. CTV retail media ad spending alone is expected to grow 43.1% this year, reaching $4.86 billion, highlighting the appetite for video-based upper-funnel strategies.
Second, RMNs can broaden reach by activating first-party audiences, syndicated segments, or custom-built audiences through onboarding capabilities. These audiences can be sent to a variety of programmatic and CTV destinations, enabling advertisers to engage shoppers in high-impact environments. For example, a home improvement retailer can send its audience segments to programmatic ad exchanges, ensuring DIY shoppers see relevant offers even while browsing unrelated sites.
Together, these approaches allow retailers to monetize their data more effectively while giving brands the ability to reach consumers in moments that matter beyond just retail websites and apps.
Scale and measure success with data partnerships
For smaller RMNs to compete with larger players, they need more than just inventory – they need the ability to scale campaigns and prove performance. Data partnerships play a critical role in both expansion and measurement.
Measurement remains one of the biggest challenges for RMNs moving off-site. On-site retail media offers closed-loop attribution, but off-site activations introduce complexity. Retailers can work with an identity resolution partner like Experian to connect ad exposures to actual retail outcomes, such as store visits or purchases, across digital and physical environments. Whether it’s through pixels placed on campaign ads or TV impression logs, these connections help RMNs demonstrate real impact.
This approach helps unify disparate data – such as a CTV ad exposure and a subsequent online or in-store purchase – into a clear, measurable outcome. These insights not only show what’s working, but help RMNs optimize future campaigns and provide advertisers with transparent, third-party-validated reporting.
As retailers like Walmart integrate loyalty programs like Walmart+ into their physical extensions, they gain valuable behavioral insights into how customers shop across formats – from fueling up to filling carts. These data signals help refine identity graphs and improve measurement across increasingly hybrid consumer journeys.
Beyond ads: The data monetization opportunity
Smaller RMNs may struggle to scale ad-supported revenue, but there’s another path forward: Data-as-a-Service (DaaS). Providing anonymized, privacy-compliant audience insights to brands offers a high-margin, scalable revenue stream. In fact, some retailers are already embracing this model by licensing their data to programmatic platforms.
A playbook for smaller RMNs to win off-site
The future of retail media belongs to those who harness data to influence consumer behavior across all digital marketing channels. To succeed, RMNs should focus on:
- Moving beyond owned inventory: Activate first-party data across CTV, social, and programmatic channels to meet advertisers where their audiences are.
- Expanding reach through partnerships: Collaborate with identity resolution providers to maximize match rates and campaign effectiveness.
- Building a full-funnel offering: Position off-site retail media as a brand-building play, tapping into ad budgets that traditionally fund upper-funnel campaigns.
- Monetizing data, not just ads: Explore DaaS models to generate passive revenue.
The time to move off-site is now
Retailers that wait too long to embrace off-site activation risk falling behind. Those that expand beyond their owned inventory, invest in off-site data strategies, and build strategic partnerships will be the ones that shape the future of retail media.
Experian isn’t just part of the RMN conversation. We’re driving it. Let’s talk.
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Experian kicks off the AdTech year at CES What better way to jump-start start 2023 than a trip to Las Vegas for the Consumer Electronics Show (CES). Our team was thrilled to participate in this annual kick-off with the AdTech community. The uniqueness of what CES has become for our industry can be defined as the intersection between technology brands, digital, television, and AdTech. CES creates the space necessary for marketing and advertising leaders to collaborate to drive rewarding outcomes for the year ahead. Our goal in attending CES was to connect with our partners, clients, and industry leaders to build relationships, form strategic plans, and listen. The opportunity to learn about our industry’s challenges and goals enables us to develop initiatives, drive success, and support our clients and partners. Keep reading for our 2023 CES AdTech recap. “I have been to CES too many times to mention the number; this year was as energetic, collaborative, engaged, and effective as I can ever recall. Our presence was first-class and meticulously organized, which made our interactions as robust as possible. It's a team effort, and we appreciate all the work that goes into this event. “ – Greg Koerner, Vice President of Digital Advertising Sales Our CES AdTech recap Supporting publishers and advertisers is top of mind for us. Many of our conversations focused on the technologies we deliver or collaborate with our partners to provide. Clean rooms and activation were two common themes throughout our discussions. Clean rooms Consumer privacy, regulatory requirements, and data deprecation are driving the AdTech industry to talk about and explore clean rooms. There’s a need to address data collection, storage, analysis, and sharing. Clean rooms are a potential solution that can standardize data and address interoperability issues. Activation In 2023, we predict that digital activation will increase. We continue to see increased demand for environments where alternative identifiers are being transacted (like demand side platforms and video). Social platforms will continue to experience volatility and advertisers will shift their focus to demand-side, video, and supply-side platforms. Download our 2023 Digital audience trends and predictions report to learn where you should activate your audiences in 2023. We can help plan your 2023 digital activation strategy. How we support clean rooms and activation Our Consumer Sync and Consumer View products support these areas and can help you understand people better–so you and your customers can connect with confidence. What is Consumer Sync? Consumer Sync, our consumer identity product, enables signal agnostic collaboration across marketers and technologies, bringing together digital devices, IDs, households, and attributes. Consumer Sync’s Resolution and Collaboration solutions can help you gain a better understanding of your consumers and make identities actionable in any environment. What is Consumer View? Consumer View, our data discovery product, offers marketers a robust, privacy-first understanding of their customers and prospects. Grounded in consumer identity, Consumer View provides the data foundation to engage consumers where, when, and how they want. Consumer View’s Audience and Attribution solutions provide expansive coverage so that you can fill in the gaps to better understand your prospects. Additionally, our collaborative efforts with strong partnerships across the clean room ecosystem and with our activation partners help our clients serve the best ads, at the best times, to the right audience. “CES is back and was a great way to kick off the new year! We were able to meet with a high volume of clients to eagerly talk about building new solutions for the TV space. We are excited to see where these conversations lead in the next few months.” – Ali Mack, Senior Director of TV Advertising Sales Let’s navigate what’s new in our industry, together We can help you connect with your consumers in innovative, impactful ways. Contact us to continue the conversation and learn more about our Consumer Sync and Consumer View products. We can help you take advantage of the opportunities on the horizon. Get in touch
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