ROAS Benchmarks by Platform and Ad Format in 2026: The Definitive Guide for Retail Media Networks

Last updated: April 2026

According to Skai’s Q1 2025 Retail Media Trends Report, retail media maintained a 6.1x ROAS for the fifth consecutive quarter, making it the most reliable cross-platform benchmark available for sponsored product campaigns in 2026. However, ROAS varies dramatically by platform, ad format, and product category — with platform-level efficiency shifting as competition intensifies, CPCs rise, and attribution methodologies evolve across Amazon Ads, Walmart Connect, Instacart, and independent retail media networks. This guide breaks down every dimension so you can benchmark your retail media performance accurately.

This article is the hub for our retail media ROAS and performance benchmarks series. For a broader look at how retail media turns first-party audiences into ad revenue, see our guide on turning retail media audiences into ad revenue. Below, we cover platform-by-platform ROAS data, ad format comparisons mapped to Adscape’s full ad format suite, vertical benchmarks, KPIs beyond ROAS, and optimization strategies using StratEdge yield management and demand generation.

What Is ROAS? Key Definitions

Return on Ad Spend (ROAS) is the revenue generated for every dollar spent on advertising, expressed as a ratio or multiplier. A 6.1x ROAS means that every dollar of ad spend generates $6.10 in attributed revenue. ROAS is the primary efficiency metric for retail media campaigns, used by both advertisers evaluating their spend and retailers benchmarking their network’s performance.

Retail media ROAS is the return on ad spend specifically within retail media networks — advertising platforms built on a retailer’s owned digital properties (website, app, in-store screens) and powered by first-party purchase data. Retail media ROAS differs from traditional digital advertising ROAS in three key ways: (1) it is measured closer to the point of purchase, (2) it leverages deterministic first-party data rather than probabilistic audience models, and (3) attribution can include both online and offline (in-store) transactions when closed-loop attribution is properly implemented.

Incremental ROAS (iROAS) is the return on ad spend attributable only to purchases that would not have occurred without the ad exposure. According to a Dataslayer analysis, iROAS across advertisers ranges from 253% to 1,609%, illustrating how dramatically true incremental value can differ from reported ROAS (Dataslayer, 2025). Understanding this variance is essential for anyone benchmarking retail media performance.

ROAS Benchmarks by Platform: 2023–2026

The retail media landscape is dominated by a handful of major platforms, with Amazon holding 79.7% of US retail media ad spend and Amazon plus Walmart capturing 89% of all incremental 2026 spending, according to eMarketer (eMarketer, 2026). But dominance does not equal uniform performance. Each platform’s ROAS profile reflects its unique shopper intent signals, attribution methodology, and competitive dynamics.

Platform ROAS Performance Overview

PlatformROAS Trend (YoY)Key 2025 Efficiency MetricsMarket Share (US)Amazon AdsROAS declined 3.9% in 2025; ACoS up 3.6%CPC up 4.6%; CVR 13.9% (down 4.4%); SP clicks +23% YoY in Q4 202579.7%Walmart ConnectROAS up +5.1% YoY (Q1 2025); full-year ROAS declined ~18%CPC up ~11%; CVR 17% (up 1%); ad spend +41.6% YoY Q1 2025~8%Instacart AdsSteady; spend grew +6.2% YoY Q1 2025CPC up +0.6% YoY; grocery purchase-intent advantage~2–3%Target Roundel1.4x–2.4x above baseline (omnichannel multiplier)Revenue $621M through Q3 2025 (+35% YoY)~1.5%Kroger Precision Marketing2.5x ROAS (Home Chef via Roku streaming ads example)60M household data advantage; case-study-based<1%Osmos-Powered Independent RMNs3x GMV monetization rate vs 0.5% industry averageFull-stack format coverage (onsite + offsite + in-store)Varies by retailer

Sources: Teikametrics, 2026; Pacvue Q1 2025; Tinuiti, 2026; eMarketer, 2026. Osmos GMV metric from osmos.ai.

A note on cross-platform comparisons: Direct ROAS comparison between platforms is inherently imprecise because each uses different attribution windows, methodologies, and category mixes. Walmart Connect’s higher reported ROAS partly reflects its longer attribution window and different advertiser mix compared to Amazon. According to Teikametrics’ 2026 marketplace benchmark report, Walmart’s full-year 2025 ROAS declined approximately 18% due to CPC pressure and declining average order values, even as its quarterly ROAS showed improvement (Teikametrics, 2026). Amazon’s 2025 ROAS declined 3.9% amid rising costs and softer conversion rates. These directional trends matter more than absolute comparisons.

For independent retailers building their own retail media networks: The relevant benchmark is not Amazon’s per-campaign ROAS — it is the GMV monetization rate, which measures what percentage of total gross merchandise value is captured as ad revenue. According to Osmos, the industry average is 0.5% of GMV, while Osmos-powered retailers achieve approximately 1.5% GMV monetization — a 3x premium driven by format breadth, first-party data targeting, and self-serve advertiser tools.

Amazon Ads Deep Dive

Amazon remains the dominant retail media platform by a wide margin. According to Atom11’s Amazon Advertising Benchmarks, a good Amazon ROAS is generally 4:1 or higher, with an industry average ACoS of 29% (translating to approximately 3.4x ROAS) and top performers achieving 22–25% ACoS (4–4.5x ROAS) (Atom11, 2026). The platform average conversion rate stands at 10.33%, with strong performance at 10–15%.

Amazon’s ad format ecosystem is undergoing a significant shift. According to Skai’s Q4 2025 report, half of Amazon advertisers now run DSP campaigns, with DSP’s share of total Amazon ad spend rising from 17.7% to 23.4% (Skai Q4 2025). Upper-funnel retail media investment grew 72% YoY in Q4 2025, while costs fell 24% — signaling that demand-side platform campaigns are scaling efficiently for brands willing to invest beyond search.

Amazon Sponsored Products remain the efficiency workhorse: clicks jumped 23% YoY in Q4 2025, driving 22% spend growth, while CPCs declined 1% (Tinuiti, 2026). Sponsored Products ROAS improved +15.4% YoY in Q4 2024, according to Pacvue’s Q4 2024 benchmark report (Pacvue Q4 2024). In contrast, Amazon Sponsored Display performs best as controlled retargeting — broad usage tends to hurt returns (Teikametrics, 2026).

Amazon DSP drove 36.5% new-to-brand sales in Q1 2025 in the US, establishing it as the primary upper-funnel customer acquisition channel in retail media (Pacvue Q1 2025).

Criteo Retail Media Performance

Criteo’s unique contribution to the benchmarks conversation is its incrementality dataset. According to Criteo research analyzing 44,000+ retail media campaigns across 422 brands (August 2023 to October 2024), US brands conducting incrementality tests with sponsored product ads saw +428% incremental ROI — meaning the true incremental value of those campaigns was more than four times higher than the reported ROAS would suggest (Criteo, 2024).

In EMEA, brands running onsite display ads saw a 160% increase in sales per user after ad exposure, demonstrating that display formats — while delivering lower direct ROAS than sponsored products — generate substantial incremental lift (Criteo, 2024).

Criteo’s research also found that daily organic clicks on retail search pages increased 56% in AMER and 23% in EMEA within two weeks of campaign activation, quantifying the organic halo effect of retail media advertising (Criteo, 2025). Brands that added two or more retailers to their retail media strategy saw year-over-year organic sales rise 7.1% in AMER and 9.2% in EMEA — while brands consolidating to fewer retailers saw declines up to -9% (Criteo, 2025).

Skai Retail Media Platform Performance

Skai’s quarterly benchmark reports draw from one of the largest datasets in the industry — $9.2 billion in platform activity in Q4 2025 alone. According to Skai’s Q4 2025 report, retail media ad spend grew 33% YoY in Q4 2025, the largest single-quarter increase in six years, driven by full-funnel strategy expansion during the holiday season (Skai Q4 2025).

The efficiency story is encouraging: retail media clicks grew 34% YoY while CPCs declined 1%, and CTR increased 9% YoY (Skai Q4 2025). According to Skai’s Q1 2025 analysis, retail media spend grew 21% YoY in Q1 2025, with clicks and impressions rising while CPCs barely moved — suggesting the market is maturing rather than simply inflating costs (Skai Q1 2025).

Skai’s 2025 State of Retail Media Report found that 92% of marketers rank retail media as their most important strategy, yet only 25% have achieved full-funnel maturity (The Barcode Group, 2025). This gap between intent and execution is where independent retail media platforms have the opportunity to differentiate — by providing full-funnel ad format coverage and transparent measurement from day one.

ROAS by Ad Format

Ad format is one of the strongest determinants of ROAS performance. Sponsored products consistently deliver the highest direct ROAS, while video, display, offsite, and in-store formats contribute differently depending on where they sit in the purchase funnel. The table below maps each format to its benchmark performance and the corresponding Adscape product for retailers building their own networks.

Ad FormatROAS / Performance BenchmarkKey Data PointOsmos FormatSponsored Products (PLAs)6.1x cross-platform avg (Q1 2025); +15.4% YoY Q4 2024Q4 2025: Amazon SP clicks +23% YoY; CPCs declined 1%ML-powered product listing adsDisplay AdsLower direct ROAS than SP; +160% sales per user after exposure (EMEA, Criteo)Best as controlled retargeting (Amazon); strong incremental liftDisplay ads on retail media networksVideo AdsIndustry benchmarks suggest up to 42% higher ROAS vs static adsSBV CTR ~1% (highest on Amazon); CTV growing 3x faster than searchSponsored video adsOffsite AdsVaries by channel; discovery and NTB growth driver60% of Walmart self-serve display spend went offsite Q4 2025Offsite retail media adsIn-Store AdsEarly pilot data: ~$2.45 reported ROAS / ~$5.20 iROASSpending forecast +47% in 2025; projected >$1B by 2028In-store retail media advertisingStory / Carousel AdsEmerging format; benchmark data limitedEarly results suggest performance between display and videoAdscape Story Ads / Carousel

Sources: Skai Q1 2025; Pacvue Q4 2024; Criteo, 2024; Tinuiti, 2026. In-store pilot data from aggregated industry reports. Video premium estimates from aggregated industry benchmarks; primary source unconfirmed.

Sponsored Products: The Efficiency Baseline

Sponsored products remain the backbone of retail media ROAS. The 6.1x cross-platform average reported by Skai is driven primarily by sponsored product campaigns. On Amazon specifically, ACoS averages 29%, which equates to approximately 3.4x ROAS — while top performers achieve 22–25% ACoS, translating to 4–4.5x ROAS (Atom11, 2026). On Walmart, Sponsored Products delivered 3.2x higher return compared to other Walmart placements in Q4 2024 (Pacvue Q4 2024).

Display and Video: The Full-Funnel Opportunity

Display ads generate lower direct ROAS than sponsored products but are critical for mid-funnel discovery and retargeting. According to Criteo research analyzing 44,000+ campaigns, EMEA brands saw a 160% increase in sales per user after running onsite display ads (Criteo, 2024). On Amazon, Sponsored Display performs best as controlled retargeting; broad-audience display usage tends to hurt returns (Teikametrics, 2026).

Video ads are the fastest-growing format in retail media. Industry benchmarks suggest video ads can generate up to 42% higher ROAS than static image ads, though the primary source for this figure could not be independently verified. What is confirmed: Amazon Sponsored Brand Video commands the highest CTR on the platform at approximately 1% (Atom11, 2026), and CTV ad spending is growing 3x faster than retail media search (Tinuiti, 2026). Amazon Sponsored Brand Video is characterized by rapid growth and higher costs, optimized for discovery rather than direct conversion (Teikametrics, 2026).

Offsite and In-Store: Emerging Frontiers

Offsite retail media is becoming a major budget allocation. In Q4 2025, 60% of Walmart’s self-serve display spend went to offsite placements (Tinuiti, 2026). Offsite campaigns leverage retailer first-party data to target shoppers across Meta, Google Shopping, and DV360 — extending retail media’s reach beyond the retailer’s owned properties. According to Skai, 71% of marketers plan to increase social commerce budgets in 2025 (The Barcode Group, 2025).

In-store retail media advertising is the earliest-stage format with the highest potential upside. Ad spending in this category is projected to grow 47% in 2025 and surpass $1 billion by 2028. Early pilot studies indicate a reported ROAS of approximately $2.45 and an incremental ROAS of approximately $5.20 — a gap that underscores how traditional online-only attribution understates in-store media’s true value.

ROAS by Industry Vertical

ROAS varies substantially across product categories due to differences in average order value, purchase frequency, competitive intensity, and targeting precision. The following benchmarks cover the major verticals in retail media advertising.

VerticalAvg ROAS Range (2025)Key CharacteristicsTop Performing SubcategoriesBeauty & Cosmetics2.8x–3.6xHigh trend sensitivity; strong on Instagram-linked offsite; leading cost-efficient category (Skai Q1 2025)Color cosmetics, skincare regimensFashion & Apparel~4.3xSeasonal variance; brand loyalty drives repeat purchase ROASActivewear, basics/essentialsFood & Beverage~3.4xHigh frequency, low AOV; strong on Instacart (Beverages 4.8–6.2x; Dairy 5.1–6.7x)Snacks, beverages, dairyHealth & Supplements~2.3xRegulatory constraints on targeting reduce efficiency; subscription models boost LTVVitamins, OTC healthcareBaby Products3.7x–3.9xHigh repeat purchase rate; strong basket affinityDiapers, formula, baby foodPet SuppliesStrong performer (2025)Repeat purchasing and high consumer intent outperformed in 2025Pet food, treats, accessoriesGrocery (overall)Leading efficiency categoryGrocery is the leading cost-efficient scale category per Skai Q1 2025Cleaning Products 5.4–7.1x (Instacart)ElectronicsLower reported ROAS; high AOVLower ROAS but strong NTB value; high AOV compensatesSmartphones, accessories

Sources: Upcounting, 2025; Skai Q1 2025; Teikametrics, 2026. Instacart category ranges from Foodbevy/Instacart aggregated data.

How to Interpret These Benchmarks

These vertical benchmarks require context. A 2.3x ROAS in Health & Supplements does not mean the category is underperforming — it reflects the regulatory constraints on targeting, narrower audience pools, and higher CPCs typical of the vertical. Conversely, a 4.3x ROAS in Fashion is partly driven by high average order values that inflate revenue-per-click calculations.

The categories that outperformed across both Amazon and Walmart in 2025 were Pet Supplies, Baby Products, Automotive, and Health & Household — all categories characterized by repeat purchasing behavior and high consumer intent (Teikametrics, 2026). Beauty and Grocery were highlighted as leading cost-efficient scale categories by Skai in Q1 2025 (Skai Q1 2025).

For retailers using Osmos to build their own networks, vertical benchmarks matter most when onboarding advertisers. Knowing that Food & Beverage advertisers on Instacart see 4.8–6.2x ROAS for beverages and 5.1–6.7x for dairy provides concrete performance expectations that StratEdge can use to set floor bids and yield targets.

KPIs Beyond ROAS

ROAS is the most quoted retail media metric, but it is increasingly insufficient as a standalone measure of campaign success. Skai’s 2025 State of Retail Media Report identified ROI and incrementality as the top barriers to increased retail media investment (The Barcode Group, 2025). Only 6% of advertisers fully trust retailers’ reported media metrics, according to Bain & Company (Dataslayer, 2025).

“This industry loves to talk about measurement, but in reality, there’s so much more sophistication that can be realized.” — Deanna Mulkeen, Head of Media Investment, Wpromote (Digiday, July 2025)

Here are the KPIs that complement ROAS in a mature retail media measurement framework:

ACoS (Advertising Cost of Sales) is the inverse of ROAS — it measures ad spend as a percentage of attributed revenue. On Amazon, the industry average ACoS is 29%, with top performers achieving 22–25% (Atom11, 2026). ACoS is preferred over ROAS in Amazon-centric strategies because it directly reflects margin impact.

Incrementality / iROAS measures only the sales that would not have occurred without the ad exposure. According to an ANA survey from January 2024, 71% of advertisers rank incrementality as their number one retail media KPI (Dataslayer, 2025). The measured iROAS range of 253% to 1,609% across advertisers demonstrates how dramatically different true incremental value can be from flat ROAS reporting.

New-to-Brand (NTB) Rate tracks the percentage of purchases from customers who have not bought from the brand in the past 12 months. Amazon DSP drove 36.5% new-to-brand sales in Q1 2025 in the US (Pacvue Q1 2025) — making NTB the primary justification for upper-funnel retail media investment.

Click-Through Rate (CTR) measures engagement efficiency. Amazon’s platform average CTR is approximately 0.47%, with strong performance at 0.5–1% and Sponsored Brand Video commanding the highest CTR at approximately 1% (Atom11, 2026). Retail media CTR increased 9% YoY in Q4 2025 (Skai Q4 2025).

Conversion Rate (CVR) on Amazon averages 10.33%, with a good benchmark of 10–15% (Atom11, 2026). Walmart’s CVR reached 17% in 2025 (up 1% YoY), reflecting its stronger purchase-intent shopper base (Teikametrics, 2026).

Impression Share and Share of Voice measure how often your ads appear relative to available impressions. These metrics are particularly valuable for brand-building campaigns where direct ROAS is not the primary objective.

Customer Lifetime Value (CLTV) extends the ROAS lens beyond a single transaction. Categories with high repeat purchase rates — pet supplies, baby products, grocery — generate far more long-term value than a single-campaign ROAS figure suggests.

For retailers monetizing their media networks, turning retail media audiences into ad revenue requires tracking both advertiser-facing KPIs (ROAS, CTR, CVR) and retailer-facing KPIs (fill rate, revenue per thousand impressions, and total ad revenue as a percentage of GMV). The 40% of marketers who say better insights could unlock future retail media investments (The Barcode Group, 2025) are precisely the advertisers that comprehensive KPI reporting can convert into sustained spenders.

Closed-Loop Attribution: Why ROAS Benchmarks Need Context

These benchmarks assume full attribution. Without closed-loop attribution for accurate ROAS measurement, most retailers are systematically underreporting performance.

According to Criteo research covering 44,000+ campaigns (August 2023 to October 2024), broadening analysis to include offline attribution increases average ROAS by 42% compared to online-only attribution (Criteo, 2024). This means that a retailer reporting a 4x ROAS using only online sales data may actually be delivering a 5.7x ROAS when in-store purchases driven by the ad exposure are included.

“Measurement is being used as an incentive for a lot of these partnerships, because it’s something that’s in such high demand.” — Anthony Costanzo, Chief Analytics Officer, Mile Marker (Digiday, July 2025)

Retailers who can demonstrate closed-loop measurement attract higher-spending advertisers and command premium CPMs.

The 85% of CPG brands now spending on four or more RMNs — up approximately 20 percentage points year-over-year (Dataslayer, 2025) — are increasingly allocating budgets based on measurement quality, not just audience reach. Retailers operating on platforms that support first-party data targeting for higher ROAS and closed-loop attribution have a structural advantage in this advertiser-acquisition competition.

How to Optimize Your Retail Media ROAS

Understanding benchmarks is the starting point — closing the gap between your current performance and the industry standard requires systematic optimization across format mix, targeting, measurement, and advertiser management.

Format Diversification

The data makes a clear case for full-funnel ad format adoption. According to Skai, upper-funnel retail media investment grew 72% YoY in Q4 2025, while costs fell 24% (Skai Q4 2025). Yet only 25% of marketers have achieved full-funnel retail media maturity (The Barcode Group, 2025).

For retailers building their own networks, format coverage is a direct competitive differentiator. Adscape’s ad format suite — covering product ads, video ads, display ads, in-store ads, offsite ads, story ads, gamified ads, and carousel ads across onsite, offsite, and in-store channels — enables the full-funnel approach that the benchmark data shows is driving the strongest ROAS improvements. No other independent retail media platform covers all eight-plus ad formats in a single stack.

Yield Management and Advertiser Strategy

Retailers using StratEdge yield management and demand generation can optimize ROAS from the supply side: setting floor bids by format, managing fill rates, forecasting demand with Demand Wise, and monitoring performance with Pulse Pro. StratEdge’s advertiser insights module provides the transparent reporting that 94% of advertisers currently do not fully trust from retailers — addressing the trust gap identified by Bain & Company.

Proof Point: Apollo 24x7

Apollo 24x7, a leading Indian online pharmacy, achieved 2x growth in participating brands through improved attribution and self-serve capabilities powered by Osmos’s PLA optimization tools (Osmos Success Stories). The key driver was not a single campaign optimization but a platform-level improvement: better self-serve onboarding (via ControlHub’s Onboard Pro) attracted more advertisers, which increased competition for placements, which improved fill rates and revenue per impression.

Similarly, Purplle — a beauty marketplace — generated $686K in ad revenue during its peak IHB Sale using Osmos-powered data-driven advertiser activation (Osmos Success Stories). This demonstrates that retailers on emerging-market platforms can achieve benchmark-competitive ROAS by combining the right ad formats with systematic yield management.

Budget Allocation for Maximum ROAS

“If you’re taking advantage of it correctly, you’ll know exactly what type of Amazon media to serve specific cohorts at very specific times of the year.” — Damien Bianchi, Group Media Director of Retail Media and Commerce, VML (Digiday, July 2025)

The same principle applies to independent RMNs: allocate sponsored product budgets for bottom-funnel efficiency, video and display for mid-funnel discovery, and offsite for upper-funnel new customer acquisition.

The data supports this approach. Amazon DSP’s new-to-brand rate of 36.5% justifies upper-funnel spend even when direct ROAS is lower. Criteo’s 428% incremental ROI finding for sponsored products confirms that bottom-funnel formats still deliver outsized true value when measured correctly. And the 72% growth in upper-funnel investment (with 24% cost declines) shows that the full-funnel approach is gaining efficiency at scale.

Comparison: Osmos-Powered Retailers vs. Major Platform Benchmarks

For mid-size and independent retailers, the relevant question is not “How do I beat Amazon’s ROAS?” but “How do I build a retail media network that delivers competitive benchmarks for my advertisers?” The comparison below positions Osmos in this context.

DimensionOsmos-Powered RMNsAmazon AdsWalmart ConnectCriteo Commerce MediaPrimary buyerRetailers building RMNsBrand advertisersBrand advertisersRetailers and brandsAd formats8+ formats (onsite, offsite, in-store)SP, SB, SD, DSP, VideoSP, Display, VideoSP, Display, VideoMeasurementClosed-loop attribution, StratEdge analyticsAmazon Attribution, AMCWalmart LuminateCriteo IncrementalityKey strengthFull-stack OS; white-label; format breadthScale (79.7% market share); AMC dataOmnichannel (in-store attribution); growing rapidlyIncrementality dataset (44,000+ campaigns)Honest limitationSmaller dataset; less public benchmark dataRising CPCs compressing ROAS; limited to Amazon ecosystemAttribution methodology differs from competitors; narrower format rangeData vintage (Aug 2023–Oct 2024); focused on Criteo network onlyGMV monetization~1.5% (3x industry avg)Not applicable (marketplace)Not applicable (marketplace)Varies by retailer partnerEmerging market coverageIndia, Thailand, South AfricaPrimarily US, EU, UKPrimarily USGlobal but US-weighted

This is not a like-for-like comparison — Osmos serves the retailer building the network, while Amazon and Walmart are the networks themselves. The comparison illustrates that independent retailers operating on a full-stack retail media OS can offer advertisers a competitive ad format suite, transparent measurement, and emerging-market reach that the walled gardens cannot match.

Frequently Asked Questions

What is a good ROAS for retail media?

According to Skai’s Q1 2025 Retail Media Trends Report, the industry average ROAS for retail media is 6.1x, maintained for five consecutive quarters. However, “good” depends on format, platform, and vertical. For sponsored products specifically, a ROAS of 4x or higher is considered strong, with Amazon’s industry average ACoS of 29% equating to roughly 3.4x ROAS (Atom11, 2026). For display ads, lower direct ROAS (2–3x) is acceptable when incremental lift is factored in — Criteo’s data shows 160% sales per user uplift from display exposure. What counts as “good” ultimately depends on your attribution methodology, category, and whether you account for offline sales.

How does ROAS vary by product category?

Significantly. Fashion & Apparel delivers approximately 4.3x ROAS, Baby Products 3.7–3.9x, Food & Beverage 3.4x, Beauty & Cosmetics 2.8–3.6x, and Health & Supplements approximately 2.3x, according to Upcounting’s 2025 eCommerce ROAS report (Upcounting, 2025). On Instacart specifically, grocery subcategories perform higher: Beverages at 4.8–6.2x, Dairy at 5.1–6.7x, and Cleaning Products at 5.4–7.1x. Categories with high repeat purchase rates (pet supplies, baby, grocery) tend to deliver stronger long-term value than single-campaign ROAS suggests.

What are Criteo retail media ROAS benchmarks?

Criteo’s primary benchmark contribution is in incrementality measurement. Based on their analysis of 44,000+ campaigns (August 2023 to October 2024), US brands saw +428% incremental ROI from sponsored product ads, EMEA brands experienced 160% sales per user increase from display, and broadening attribution to include offline sales increased average ROAS by 42% (Criteo, 2024). Criteo also documented the organic halo effect: within two weeks of campaign activation, organic clicks increased 56% in AMER (Criteo, 2025).

What are Walmart Connect ROAS benchmarks?

Walmart Connect’s ROAS has shown divergent trends. Pacvue reported that Walmart Connect ROAS improved +5.1% YoY in Q1 2025 (Pacvue Q1 2025), while Teikametrics’ full-year 2025 analysis showed an approximate 18% ROAS decline driven by rising CPCs (up ~11%) and declining average order values (down ~9%) (Teikametrics, 2026). Walmart Sponsored Products delivered 3.2x higher return versus other Walmart placements in Q4 2024 (Pacvue Q4 2024). Walmart’s ad spend grew +41.6% YoY in Q1 2025, making it the fastest-growing major platform by spend.

Perpetua vs Skai: How do their ROAS benchmarks compare?

Skai and Perpetua serve the same buyer (brand advertisers managing retail media campaigns) but publish benchmark data differently. Skai releases quarterly public reports covering $9.2 billion in platform activity, with the most commonly cited benchmark being 6.1x ROAS. Perpetua, now part of the Publicis Groupe ecosystem, publishes less granular public benchmark data. A detailed comparison is covered in our upcoming deep dive: Perpetua vs Skai: Retail Media Platform Benchmarks Compared.

What KPIs should I track beyond ROAS?

The most critical KPIs beyond ROAS include: ACoS (Amazon average 29%; inverse of ROAS), incrementality/iROAS (ranges from 253% to 1,609% across advertisers), new-to-brand rate (Amazon DSP: 36.5% in Q1 2025), CTR (Amazon average 0.47%), and conversion rate (Amazon average 10.33%, Walmart 17%). As of an ANA survey in 2024, 71% of advertisers rank incrementality as their number one retail media KPI (Dataslayer, 2025).

How do I improve retail media ROAS?

Focus on three levers: (1) Format diversification — upper-funnel investment grew 72% YoY in Q4 2025 while costs fell 24%, showing that full-funnel strategies improve overall efficiency; (2) Attribution completeness — including offline sales in attribution increases ROAS by 42% on average (Criteo); (3) Measurement transparency — the 94% of advertisers who do not fully trust retailer-reported metrics need transparent, third-party-verified reporting to increase budgets. For retailers operating their own networks, StratEdge provides the yield management and demand generation tools to optimize across all three levers.

How does retail media ROAS compare to traditional advertising ROI?

Retail media consistently outperforms traditional digital advertising on a ROAS basis. The average ecommerce ROAS dropped to 2.87:1 in 2025 (median 2.04 in 2024) according to Upcounting (Upcounting, 2025), while retail media maintained a 6.1x average — more than double. The premium exists because retail media leverages first-party purchase data for targeting, operates closer to the point of transaction, and benefits from closed-loop attribution that traditional display and social advertising cannot match.

How should I allocate budget to maximize ROAS?

Start with sponsored products (highest direct ROAS), then layer in display for retargeting, video for discovery, and offsite for new-to-brand acquisition. The data supports this progressive approach: Amazon Sponsored Products delivered the strongest Q4 2025 growth (+23% clicks, +22% spend), while DSP’s share rose from 17.7% to 23.4% as brands added upper-funnel formats. Target Roundel’s data shows that combining onsite with two offsite channels delivers 1.4x above baseline, and adding a third offsite channel pushes performance to 2.4x above baseline.

What is the future of retail media ROAS measurement?

The industry is moving from reported ROAS to incrementality-based measurement. The number of RMNs offering Media Mix Modeling access rose 50% between Q1 and Q3 2024 (Dataslayer, 2025). As Deanna Mulkeen noted: “This year, you’re starting to see more streamlining, more material partnerships start to transpire because [RMNs] understand that having the data alone is not the full story” (Digiday, July 2025). Expect incrementality testing, clean-room integrations, and closed-loop attribution to become table stakes for any retail media network seeking premium advertiser budgets by 2027.

Related Deep Dives

This article is the hub of our ROAS and Performance Benchmarks series. Each spoke article below covers a specific angle in greater depth:

1. Retail Media ROAS Measurement: Attribution Models and Benchmarking Methodology — Deep dive on measurement methodology and market-specific ROAS context
2. Retail Media Market Growth Forecasts 2026–2028 — Market size, YoY growth projections, and investment trends
3. Salesforce Retail Media Performance: Data, Benchmarks, and Comparisons — Salesforce-specific benchmark data and platform comparison
4. Retail Media Revenue Growth Forecasts: US Market Analysis — US market revenue forecast and growth drivers
5. Attribution Modeling in Retail Media: Solutions and Best Practices — Technical attribution deep dive for measurement practitioners
6. CommerceIQ Retail Media Benchmarks: Platform Review and Comparison — CommerceIQ-specific benchmark comparison from the brand-side perspective
7. Perpetua vs Skai: Retail Media Platform Benchmarks Compared — Head-to-head platform benchmark comparison for advertisers
8. Salesforce Retail Media Revenue and Performance: US Market Data — US-market Salesforce retail media revenue data and trends

Check back as these articles are published and linked throughout 2026.

Sources

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5. Criteo / Coresight Research. “10 Trends Shaping the Retail Media Market.” January 2025. criteo.com
6. Criteo. “Beyond ROAS.” May 2024 (data from August 2023–October 2024). criteo.com
7. eMarketer. “FAQ on Retail Media Networks: How Marketers Should Allocate Budgets in 2026.” January 2026. emarketer.com
8. Tinuiti. “Retail Media Trends and Outlook for 2026.” March 2026. tinuiti.com
9. Upcounting. “Average eCommerce ROAS Dropped to 2.87 in 2025.” October 2025. upcounting.com
10. Pacvue. “Q4 2024 Retail Media Benchmark Report.” January 2025. pacvue.com
11. Atom11. “Amazon Advertising Benchmarks: Key Metrics You Should Know.” Updated early 2026. atom11.co
12. Dataslayer. “Incrementality: Top Retail Media KPI for 2025.” November 2025. dataslayer.ai
13. Digiday. “Retail Media’s Mid-2025 Reality: Why Advertisers Are Going All In on Full-Funnel.” July 2025. digiday.com
14. The Barcode Group. “Skai State of Retail Media 2025: Key Insights and Trends.” February 2025. thebarcodegroup.com