Why CMOs Are Betting on Retail Media Networks in 2026

By June 2026, retail media networks have become the fastest-growing ad channel, with Walmart Connect, Amazon Ads, and Instacart's Carrot Ads pulling in over $60 billion collectively. Lucas and Luna break down why CMOs are reallocating up to 25% of their digital budgets into retail media, the data advantage that makes it work — first-party purchase signals, closed-loop attribution — and the hidden risk: a handful of retailers now control the funnel from search to shelf. They debate whether this is a smart efficiency play or a dangerous concentration of ad power, using specific case studies from a CPG brand that shifted 40% of its TV budget into retail media, and a DTC startup that got squeezed by rising cost-per-click inside Amazon's walled garden. This episode covers the operational shift, the negotiation tactics CMOs are using to get better terms, and what happens when the retailer becomes both the platform and the competitor. #RetailMediaNetworks #WalmartConnect #AmazonAds #InstacartCarrotAds #FirstPartyData #ClosedLoopAttribution #CPGBrands #DTCMarketing #DigitalAdvertising #CMOStrategy #MarketingBudget #AdSpend #WalledGarden #RetailData #CostPerClick #FexingoBusiness #BusinessPodcast #MarketingLeadership Keep every episode free: buymeacoffee.com/fexingo