Retail media was built for growth. Now, it’s being rebuilt for risk

Wall Street may be breathing a sigh of relief over the 90-day tariff pause but marketers aren’t joining the celebration. They’ve seen this movie before — temporary reprieves followed by fresh volatility. It’s precisely why they’ve been demanding more flexibility in their media deals, especially in the fast-shifting terrain of retail media.

That’s the real pressure point. Even with some tariffs paused, others remain very much alive. A 10% blanket hike on imports from roughly 75 countries plus a 125% tariff on Chinese goods still leaves marketers facing a potential 25% surge in cost, with no clear end in sight. The math hasn’t really changed. Higher costs mean fewer goods sold. And with fewer goods to possibly move, CPG marketers are asking the obvious question: Will they need to advertise as much at all?

No one has a firm answer yet. If anything, the sudden backtracking on the more aggressive tariffs only underscores the futility of trying to make marketing decisions in real time when the policy backdrop can change by the hour. The prevailing logic now looks like this: Wait as long as possible, and be ready to move the moment it counts.

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