Europe's Retail Media Shake-Up: Carrefour and JCDecaux Go All-In

PARIS, FRANCE – December 09, 2025 – The European retail media landscape is on the cusp of a seismic shift, following the announcement of a strategic partnership between retail giant Carrefour, its real estate arm Carmila, ad-tech powerhouse Unlimitail, and global outdoor advertising leader JCDecaux. The alliance is set to develop and deploy an expansive, data-driven advertising network across hundreds of shopping sites in France and Spain, signaling a new era for how brands connect with consumers at the point of purchase.

This collaboration aims to create a powerful, integrated media ecosystem that merges physical retail spaces with sophisticated digital advertising technology. By leveraging their combined strengths, the partners intend to redefine the in-store and near-store experience, offering advertisers unprecedented reach and measurability while modernizing the retail environment for millions of shoppers.

A New Blueprint for In-Store Advertising

At the heart of the partnership is a massive infrastructure upgrade. JCDecaux, selected after a competitive tender process led by Unlimitail, will manage, upgrade, and commercialize all indoor and outdoor advertising assets across the partners' sites. The project represents the largest multi-site deployment JCDecaux has ever undertaken in France, underscoring its scale and ambition.

In France, the plan involves rolling out new 75-inch LCD digital screens inside 161 shopping malls, a significant format upgrade from the current network. These will be complemented by large-scale, iconic screens at major locations. Critically, the transformation extends outdoors to 297 mall access areas, where traditional street furniture will be enhanced with cutting-edge 81-inch LED screens. A similar rollout is planned for Spain starting in 2027, covering 91 shopping centres and 88 access areas.

This move comes as the European retail media market is experiencing explosive growth, projected to reach €31 billion by 2028. The sector is currently fragmented, with over 100 different retail media networks operating across the continent. This partnership represents a significant consolidation of power, creating a unified and scaled offering that stands out in a crowded market. By combining indoor Digital Out-of-Home (DOOH) with outdoor Out-of-Home (OOH) advertising, the alliance will control a vast media network that captures consumer attention at every stage of the shopping journey, from the approach to the mall to the point of sale.

"This project is fully aligned with the transformation strategy that Carrefour and Carmila are implementing across their sites," said Marie Cheval, Chairman and Chief Executive Officer of Carmila. "We are creating new opportunities to monetise our audiences and accelerate the growth of our revenues, while further enhancing the attractiveness of our sites."

The Power of Data-Driven, Programmatic DOOH

The true innovation of this partnership lies not just in the hardware, but in the sophisticated data and technology layer provided by Unlimitail, the joint venture between Carrefour and Publicis Groupe. The new OOH/DOOH network will be fully integrated into Unlimitail’s retail media platform, which is built on the "CitrusAd powered by Epsilon" ad-tech stack.

This integration will allow advertisers to execute highly targeted, omnichannel campaigns. For the first time on this scale, brands will be able to leverage programmatic buying for physical world advertising through JCDecaux's Adtech ecosystem, including connections via VIOOH (a supply-side platform) and Displayce (a demand-side platform). This means advertisers can automate their ad buys, delivering the right message, to the right audience, at the right time, with newfound efficiency and flexibility.

The engine driving this precision is Carrefour’s vast trove of first-party data. By utilizing aggregated and anonymized transactional data and loyalty cardholder information, Unlimitail can offer advertisers robust performance measurement, linking campaign visibility directly to sales impact. This "closed-loop" attribution has long been the holy grail of advertising, and its application to the physical retail environment is a game-changer.

As Alexis Marcombe, CEO of Unlimitail, stated, "Physical and digital inventory and data can be fully monetised when they are combined for the benefit of retailers, brands and shoppers throughout the customer journey." This data-driven approach promises to solve key challenges for advertisers, who have been drawn to retail media by the promise of first-party data but frustrated by a lack of standardization and fragmented systems.

A Strategic Pivot in a Competitive Landscape

For each partner, this alliance represents a critical strategic move. For Carrefour, it's a major step forward in its "Carrefour 2026" plan to become a "Digital Retail Company." The retailer has committed €3 billion in digital investments through 2026, aiming to triple its e-commerce value and generate new revenue streams. By monetizing its physical store network—which it views as an undervalued "mass media" asset—Carrefour is unlocking significant long-term value and enhancing its omnichannel strategy.

For JCDecaux, the partnership cements its leadership in the OOH market while making a decisive pivot into the booming retail media sector. "Physical retail media has been enjoying strong growth for several years and this partnership is fully in line with that momentum," noted Jean-Charles Decaux, Co-Chief Executive Officer of JCDecaux. By integrating its DOOH solutions with rich transactional data, the company is future-proofing its business model against the purely digital advertising giants and offering brands a compelling, high-impact alternative.

The collaboration is set to reshape the competitive dynamics of European advertising. Rival OOH companies and other retail media networks will be under pressure to scale their own offerings and forge similar data-sharing alliances to compete. While the new network presents enormous opportunities for brands—including enhanced targeting, measurable ROI, and seamless omnichannel campaigns—it also brings challenges. Advertisers will need to navigate the complexities of programmatic DOOH and a potentially costly bidding environment for premium ad space.

Ultimately, this four-way partnership is more than just an advertising deal; it's a foundational effort to build the retail environment of the future. By seamlessly blending the physical and digital worlds, the collaborators are creating a more modern, responsive, and engaging experience for shoppers, while providing a powerful new platform for brands to grow. Full deployment is targeted for the back-to-school 2026 campaigns, marking a date when the European retail media landscape will be irrevocably changed.