Cartology revenue spikes nearly 20% as Mike Tyquin expands remit
Woolworths annual financial accounts show that its retail media business Cartology is powering ahead, with close to 20% revenue growth year-on-year.
Cartology sits operationally in WooliesX (its digital and media division), but in accounting terms, its revenue dollars are subtracted from group costs.
According to the accounts, Cartology’s revenue increased by “a normalised 19.5%” with growth across all banners and channels, particularly digital and shopper.
Media, Everyday Rewards, and Services sales increased by a normalised 11.7%, while EBIT increased by a normalised 40.2%, supported by the double-digital sales growth from Cartology, as well as Everyday Mobile and Insurance.
Cartology’s highlights outlined by Woolworths included the roll out of video ads on its homepage and app during the year, as well as the activation of around 20,000 in-store POS screens as media opportunities.
The figures were normalised to account for a difference in week numbers between FY24 and FY25.
The accounts also mentioned that Mike Tyquin, Cartology’s MD, has taken on an expanded remit, as part of some group leadership and organisational changes. He will now lead insights, media, and loyalty commercialisation.
Cartology has previously attracted attention from the ACCC, which has scrutinised this lack of transparency for retail media operations. In March, the consumer watchdog recommended new reporting for retail media at the major supermarkets, after estimating revenue from Cartology tripled since the 2020 financial year.
It was one of 20 recommendations made by the ACCC in its final report, following a year-long investigation into the supermarket sector. The inquiry examined the pricing practices of the supermarkets, the relationship between wholesale and retail prices, and supplier contracts.
The final recommendation was that Woolworths and Coles (who own retail media network Coles 360) should be “more transparent about how supplier funding contributions to their in-house retail media services are used”.
In submissions to the inquiry, both supermarkets said they “do not require suppliers to use retail media”. Coles said there are “many alternative marketing avenues open to suppliers”, while Woolworths maintained Cartology is managed by a separate team to its commercial division.
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Lauren McNamara is a freelance journalist contributing to Mumbrella. She previously spent three years at the publication, most recently as the associate editor. She first joined in 2022 after completing a Bachelor of Communications (Journalism) at UTS. She left her staff role at Mumbrella in August 2025.
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