Michael Levine.
The AdNews end-of-year Perspectives, looking back at 2025 and forward to next year.
Michael Levine, Head of APAC, Uber Advertising
Looking back at 2025, retail media often felt like the rare bright spot in an otherwise unpredictable advertising landscape.
While many parts of the industry battled volatility, retail media seems to be one channel that continued to accelerate, maturing faster than anyone expected and becoming one of the most commercially dynamic parts of the ecosystem.
But as the space has grown, so have the expectations - and the tensions bubbling beneath the surface will define the year ahead.
Retail media is no longer the shiny new toy, it has earned its seat at the table. Budgets didn't flow to retail media because it was fashionable, but because it promised something marketers desperately needed: signal-rich environments, high-intent audiences and the ability to connect media and commerce in ways that more closely mirror how people actually shop today.
But with that came a new level of scrutiny. Incrementality is now the gold standard for many advertisers and retail media partners have to prove their contribution to this too.
Consumer habits have also continued to evolve apace - the lines between browsing, deciding and buying continued to collapse as a generation of digital-first consumers now expects their digital world to extend seamlessly into every other part of their lives.
This has seen more of our digital platforms designed for utility, like Uber's mobility and delivery, growing as core media environments in their own right.
Customers are also increasingly expecting media that is relevant to them in the moment, not for them as an audience segment. In 2025 brands leaned into real-world cultural events and context-driven placements far more than in previous years.
Whether it was the Australian Open, major music events (Oasis, anyone?), or seasonal shopping peaks, we saw advertisers using physical and digital environments together to meet people in the real moments that mattered. Inventory to reach Uber rides on-trip to these moments often sold out and we saw the performance of those campaigns exceed expectations and drive instant outcomes for brands.
At the same time, consumers were clearer about what they valued. Yes, households tightened spending, but they also proved willing to pay more for products and services that solved real problems in their lives.
Everything from membership models, deal-driven value plays and convenience-led approaches saw brands outperform because they removed friction from daily decision-making. And as mental load and decision fatigue rise, people will outsource more small decisions than ever before.
This is one of the biggest opportunities for brands across APAC in 2026: showing up in the micro-moments where choices are being made - not weeks or days beforehand, but seconds.
Still, for all its momentum, retail media isn't without challenges. Measurement remains the industry's biggest unsolved puzzle. Attention has become a mainstream KPI, but we still lack alignment on what "good" attention actually means and are dealing with widespread fatigue about the metric.
Incrementality methodology, for all it is now sought after, varies widely. And many organisations continue to split retail media, commerce and brand-building budgets into separate strategies, and org structures, even though consumer behaviour refuses to respect those boundaries.
Until we bring more consistency to how we measure outcomes, and more unity to how we plan for them, we're only realising half the potential of what retail media can do.
On another note, in a year defined by rapid growth, shifting expectations and constant recalibration, I've been thinking a lot about what it means to lead through pressure. Something I heard recently from Dan Carter - the retired rugby player and All Blacks legend - really stayed with me: the idea that pressure itself can be a privilege.
Stepping into a regional role this year brought its fair share of intensity: new markets to understand, fresh complexities to navigate and a decent amount of time on the road. At moments, it's been a lot to juggle.
But this idea has genuinely reshaped how I think about responsibility in an industry evolving this quickly. The pressure isn't a burden so much as a signal that the work matters - that we're operating in a place where the stakes are real and the impact is tangible.
It's a mindset I'm carrying into 2026, and one that's reinforced every time I look at the people coming through the industry. Because for all the complexity we're navigating, the shift I'm most energised by for next year isn't technology or a platform - it's the talent.
Supporting emerging talent this year through the IAB Australia Mentor Program has been a reminder that the future is arriving fast.
They're sharp, ready to lead and their expectations of how the industry should operate will reshape more than we realise. Gen Zers, some of whom will turn 30 next year, stepping into real decision-making roles will be one of the most important dynamics to watch in 2026.
Retail media may be maturing quickly but we're still at the beginning of what it can become. If 2025 was the year it earned its stripes, 2026 is the year it learns to lead. And if the energy of the next generation is any indication, the industry is in very good hands.
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