The rapid growth of online retail media coupled with increased in-store digital connectivity highlights the potential for physical stores as the next frontier for retail media. But lagging tech capabilities, competing priorities, and unproven new formats create an uncertain path forward for retailers.

Key Question: How big is the opportunity for in-store retail media, and what should retailers and brands focus on in the near term?

Key Stat: By 2028, in-store retail media spend will reach over $1 billion but will make up less than 1% of total omnichannel retail media ad spending.