Walmart

Walmart appears as the scaling benchmark for mature retail media, grouped with Target and Dollar General in coverage on how leaders are scaling, while simultaneously entangled in the industry-wide tension over whether RMNs can deliver brand-building or just conversion. Its Flipkart asset doubles as an AI-commerce testbed via Google's Gemini direct-purchase test in India. Trajectory is toward full-funnel legitimacy, but systems and proof points still skew performance.