Connected commerce marketing specialist SMG has announced the launch of its proprietary Commerce Media Network (CMN) Maturity Index.
The Index is a comprehensive new framework designed to assess, benchmark, and accelerate the development of retail and commerce media networks globally.
Drawing on 18 years of experience operating and advising leading commerce media networks worldwide, it introduces a robust 126-data-point diagnostic model that defines and measures success in the fast-growing commerce media sector.
The CMN Maturity Index evaluates networks across three core dimensions:
- What: The strength of a network’s proposition, including capabilities, media channels, inventory, and data assets.
- How: The value delivered to advertisers, including service levels, orchestration, strategic partnership, creative capability, transparency, and trust.
- Central: The organisational maturity underpinning the network, including how well integrated the CMN is within the broader business and the reputation and credibility it has built within the industry.
Early insights from the UK market
SMG has already applied the Index across a broad set of UK commerce media networks. The initial findings indicate that:
Commerce media is firmly in its growth phase
With 58% of networks operating at a mid-market level and 28% demonstrating mature capabilities, the industry has moved decisively beyond experimentation. However, structural sophistication is still consolidating.
Maturity is defined by balance, not scale
Mature CMNs show consistent performance across all Index dimensions, signalling that long-term advantage comes from integrated capability rather than isolated strengths.
The mid-market is the industry’s most competitive arena
Performance varies significantly within this tier, with many networks approaching mature sophistication. Notably, 40% of mid-market CMNs match or outperform mature players on many elements of the ‘How’ dimension, proving credible execution and advertiser engagement.
Media and channel breadth have had a strong share of focus to date and so have developed in line with the network’s life stage
Strength in the ‘What’ dimension, including a network’s capabilities, media channels, and data offerings, most strongly correlates with overall maturity, underscoring the importance of evolving to a more balanced and well-rounded differentiated proposition.
The next wave of differentiation will be driven by integration and intelligence
While audience and first-party data are now foundational strengths across most networks, competitive edge will increasingly come from offsite orchestration, in-store automation, creative effectiveness, and AI-enabled insight activation.
Addressing a critical industry need
Despite rapid growth, commerce media has lacked a consistent framework for assessing network sophistication. As investment accelerates and more retailers launch or expand media propositions, the challenge is shifting from whether to build a commerce media network to how to build one that stands out.
The CMN Maturity Index is designed to enable commerce media networks to:
- Benchmark against industry standards and global best practices.
- Identify priority capability gaps.
- Plan strategic roadmaps and future investments.
- Develop clearer propositions and market positioning.
Ollie Shayer, Global Strategy & Innovation Lead at SMG, said: “Commerce media is moving from rapid expansion into strategic consolidation. The question is no longer who has a network, but who has built one that is structurally equipped to lead.
“The Commerce Media Network Maturity Index brings clarity to that market shift. It is not a one-size-fits-all scorecard, but instead helps organisations identify where they can create genuine competitive advantage, and where focused investment will unlock sustainable growth.”
