1、Q4 2025 Retail Media Benchmark Report Amazon,Walmart,Target,InstacartTable of Contents2025 Q4 BENCHMARK REPORT3 Introduction Key Findings Quarterly Performance Drivers A Letter from Melissa Burdick 5 Holiday Sales Spotlight Industry Voices:20 Years of Cyber 5 Cyber 5 as a Retail Media Stress Test Si
2、gnals for 2026 8 Amazon Ads Benchmarks Q4 Overview CPC and Spend ROAS and CVR DSP Trends 14 Amazon Category Benchmarks Category Overview Beauty&Personal Care Electronics Health&Household 23 Walmart Connect Benchmarks Q4 Overview CPC and ROAS CTR and Spend 27 Instacart Ads Benchmarks Q4 Overview CPC
3、and ROAS CTR and Spend 31 Target Roundel Benchmarks Q4 Overview CPC and ROAS CTR and Spend35 Looking Ahead 2026 Predictions Upcoming Events Whats New from Pacvue 39 About the Report Methodology About Us32025 Q2 BENCHMARK REPORT32025 Q4 BENCHMARK REPORTKey Findings for Q4 2025 2025 Q4|Quarterly Perfo
4、rmance DriversQ4 rewarded relevance and conversion quality more than higher bids.Across Amazon,Walmart,Target,and Instacart,Q4 performance gains came from stronger conversion and engagement at a time when CPCs often remained stable or declined.Rather than relying on higher bids to win auctions,adver
5、tisers who aligned more closely with shopper intent were able to improve returns during peak demand.Performance gains in Q4 were uneven across categories,favoring repeat-and needs-based demand.On Amazon,categories tied to habitual or essential purchases consistently converted better than discretiona
6、ry categories.Grocery,Health&Household,Pet Supplies,Baby,and Beauty&Personal Care all delivered materially higher conversion rates than categories like Electronics and Home&Kitchen.Sponsored Brands emerged as a more meaningful performance lever in Q4.Across Amazon and Walmart,Sponsored Brands delive
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