This Capgemini and LiveRamp report argues that commerce media is evolving beyond retailer advertising networks into a broader ecosystem where any company with customer relationships, transaction data, or digital inventory can become a publisher, data provider, or advertising partner. As privacy regulations tighten and third-party identifiers disappear, successful commerce media networks will be built on three pillars: inventory, audience data, and measurement. The report emphasizes the importance of first-party and contextual data, privacy-safe collaboration through data clean rooms, and advanced measurement capabilities that connect advertising spend directly to business outcomes. It also highlights how generative and agentic AI can simplify campaign optimization, audience insights, attribution, and analytics, allowing smaller teams to operate sophisticated media networks. The future of commerce media is described as composable, contextual, collaborative, and increasingly agentic, enabling more personalized customer experiences and higher-margin revenue streams.

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