Key stat: US retailers and wholesalers grew total media ad spending 13.9% in H1 2025, but growth slowed to 6.9% in H2 2025, according to a January report from MediaRadar.

Beyond the chart:

• The H2 deceleration reflects more than seasonal patterns. Import prices rose 5.4% in the first six months after tariffs were imposed, compared with 3.0% for domestic goods, per Harvard Business School, and nearly 90% of that burden fell on US firms and consumers rather than foreign producers, per a February 2026 New York Fed analysis.
• Meanwhile, even as total spend growth slowed, retailers actively rotated into emerging channels. Retail and grocery accounted for 44% of ad impressions on ChatGPT during its first two weeks of ads, compared with 37% on Google Search, per Sensor Tower.

Use this chart: Drop this in your next retail media or ad budget planning meeting to show how spending momentum shifted across the year. Use the half-over-half comparison to benchmark your brand's investment trajectory against the broader retail category, and flag where economic headwinds may be pulling the market back.

Related EMARKETER reports:

• Live FAQ: How the US Supreme Court's Tariff Reversal Could Shift Retail and Search Growth (EMARKETER subscription required)
• Retail Trends to Watch in 2026 (EMARKETER subscription required)

We prepared this article with the assistance of generative AI tools and stand behind its accuracy, quality, and originality.