Retail Media Report 2026: Impressions, Market Share, & More

Summary

The retail media landscape in the US is undergoing a significant shift, as total impressions declined 17% in H1 2026. However, this decline is not uniform: home improvement retailers like Lowe's and Home Depot saw impressions surge 151% and 43% respectively, while Amazon—which controls 60% of the market—experienced a 16% drop. Walmart and Target also saw declines, indicating that general merchandisers are re-evaluating their retail media strategies. In contrast, specialized networks in pharmacy, pet, and beauty gained traction.

Channel allocation reveals a clear split: offsite advertising remains the primary choice for vertical-specific networks such as PetSmart, Instacart, and Sephora, which rely on it for 100% of their impressions. Meanwhile, general merchandisers are increasingly adopting onsite ads to drive bottom-of-funnel conversions. Amazon notably boosted its onsite share to 56%, signaling a shift toward owned real estate for capturing high-intent shoppers.

Category diversification is another key trend. Networks like Amazon and DoorDash are expanding beyond their core categories into health, finance, and telecom, attracting a broader advertiser base. On the advertiser side, CPG brands are the most active diversifiers, with over 80% of top advertisers using at least two different retail media networks.

For ad operations decision-makers, the takeaways are actionable: first, evaluate specialized RMNs as alternatives to the dominant players, as they are currently experiencing above-market growth. Second, balance onsite and offsite placements based on your funnel objectives—onsite for conversion, offsite for reach. Third, adopt a multi-network strategy, particularly if you operate in CPG, to hedge against volatility and capture audience-specific opportunities. Finally, monitor how major networks like Amazon shift their inventory and pricing as they evolve, as this will directly impact your media planning and ROI. By staying agile and data-driven, advertisers can navigate this complex channel and turn the current reshuffling into a competitive advantage.

Analyst Note

What's notable here is the clear rotation from generalist to specialist retail media. As Amazon's impression volume contracts 16%, specialized networks in home improvement, pharmacy, pet, and beauty are picking up share. The implication is that scale alone no longer guarantees advertiser preference; vertical relevance and demonstrated shopper intent are becoming determining factors. This is a maturation signal for the channel, and it's worth watching whether home retailers' 151% YoY surge is durable or cyclical.

The onsite versus offsite split highlights divergent monetization strategies. Amazon's move to 56% onsite share indicates a focus on closing the loop on owned traffic, while fully-offsite verticals like PetSmart and Sephora borrow third-party audiences for discovery. For ad ops, this complicates cross-network comparisons—impression volume says less about value if inventory mix differs.

Category diversification by majors like Amazon and Doordash shows retail media networks are no longer bound to their retail roots. Expanding into Health, Finance, and Telecom, they become horizontal demand engines. The key implication: budget flows across categories may become more fluid, and network selection will increasingly depend on audience overlap rather than retail category alignment.