2025美国以外地区零售媒体规模化发展六大关键问题研究报告英文版

MARKETING AND SALESSix Questions for ScalingRetail Media Outsidethe USBy Daniel Gospodinov, Henry Leon, Khaled Tawfik, and Lauren WienerARTICLE MAY 09, 2025 15 MIN READRetail media is flourishing globally and is expected to grow 15% per year, from $130 billioncurrently to $230 billion by 2028. US retailers have long been the driver of this growth, representingnearly half of the market, but retailers in the rest of the world are increasingly determined tocapture more of that growth. To catch up, however, they need to contend with local market realitiesthat are much different from those in the US. In Europe, for instance, retailers must navigatestricter privacy regulations, a strong emphasis on their own private brands, customers who more©2025 Boston Consulting Group1regularly visits stores, and customer expectations of omnichannel experiences, all while operatingin a highly fragmented market shaped by diverse consumer preferences.To better understand brands’ advertising needs and the challenges retailers face when trying tolaunch and scale retail media, BCG conducted a survey involving about 100 retailers and 40 brandsacross Africa, Europe, the Middle East, and South America. We find that success depends onaddressing six critical questions that touch on issues such as how to evolve retail media to a full-funnel marketing channel, how to secure incremental spending from brands, how to mitigateconcerns around the customer experience, how to build a scalable operating model, where to focustechnology investments, and how to align retail media with broader business priorities. Taking thetime to address the six questions is well worth the effort given how quickly brands are increasingtheir spending on retail media while also focusing their spending with fewer retail media networks.Brands Spend More, RetailersInvest MoreThe core retail media concept—when a retailer sells advertising placements on proprietary digitalplatforms or third-party websites using its first-party customer data for more precise targeting andstronger visibility of bottom-line impact—continues to gain momentum. Our recent survey ofbrands across Africa, Europe, the Middle East, and South America finds that nearly all brands(98%) grew their retail media spending, with 40% of brands increasing it by more than 20%annually during the past three years—and the pace is picking up.Impressive results from previous spending are driving expectations for continued growth inspending. (See Exhibit 1.) Over the next three years, retail media spending in these regions isanticipated to grow by approximately 25%, on average, year-over-year, outpacing US retail mediaspending, which is projected to grow by 20% per year.©2025 Boston Consulting Group2Surveyed brands that spent heavily on retail media in the past three years have seen strong resultsdriven by the ability to more precisely target shoppers using retailers’ first-party data, unlocking ahigher ROI than they have in other marketing channels. (See Exh