The Iconic expands retail media push as market heads for $2.3bn

The Iconic is stepping up its retail media ambitions, bringing its advertising, customer data and creative capabilities together under the newly rebranded ICONIC Media business.

The move comes just days after Myer launched its own retail media network, as Australian retailers race to convert their customer data and digital platforms into new advertising revenue streams. Australia’s retail media market is forecast to grow 19.5% to $2.3 billion in 2026, making it the country’s fastest-growing advertising channel, according to WPP Media.

ICONIC Media replaces the retailer’s existing unified retail media offering and will provide full-funnel campaigns spanning onsite advertising, customer insights, influencer activity, offsite placements, creative campaigns, out-of-home and physical activations.

At the centre of the business is The Iconic’s self-service advertising platform, which allows brands to create, manage and optimise sponsored campaigns through a central dashboard.

SEE MORE: The Iconic names Emotive as creative agency

The platform recorded 160% year-on-year revenue growth during the first half of 2026, with Sponsored Products delivering an average return on advertising spend of 390%.

More than 280 brands are currently active on the self-service platform, while The Iconic said it worked with more than 420 brands on broader marketing campaigns over the past year.

“The customer journey is no longer linear. Customers are constantly moving between discovery, validation and purchase, often across multiple platforms and touchpoints before they make a decision,” Joshua Nunan, director of platform media and services at The Iconic, said.

“So for fashion and lifestyle brands, retail media can no longer be limited to sponsored placements at the point of conversion. We are combining rich customer insights, strategic media placements and creative marketing opportunities to help brands show up in ways that are useful and relevant to how customers shop today.”

The offering is available to The Iconic’s fashion and lifestyle partners, as well as businesses outside its traditional retail marketplace looking to reach its customers.

Recent campaigns have included Nike’s Outrun the Delivery Van activation, influencer work with Polo Ralph Lauren, onsite activity for PayPal and an integrated flyer campaign with Uber.

The Iconic’s move follows the launch of the Myer Media Network on 17 July, powered by Myer One customer data and led by former Coles 360 executive Michael Sharlassian.

The two announcements add to a rapidly expanding retail media market that already includes Woolworths’ Cartology, Coles 360, Bunnings’ Hammer Media, Petbarn’s PetAds and David Jones’ Amplify.