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This week, Walmart said it would begin playing ads at the self-checkout, on screens in the TV aisle, and over the store’s intercoms, bringing the concept of retail media back to the physical retailer.
Walmart, if you haven’t heard, is already a formidable ad network. The big box retailer’s ad business netted $2.7 billion last year, growing almost 30% year over year, according to its Q4 2022earnings report.
It’s one of many grocery and big box chains investing in retail media, a sector expected to more than double by 2027, according to eMarketer.
Partly powered programmatically through the Trade Desk, Walmart’s retail media business has also inked digital partnerships with Snap and TikTok. The latest offerings embody the promise of retail media—using Walmart’s massive scale (and its rich customer data) to sell a whole lotta ads on its site and across the internet.
The company is rolling out the inventory on approximately 170,000 screens across stores, and 30-second radio spots will be able to target specific stores and regions. In a personal blow to Costco, the company is also pitching advertisers sample stations that can be bundled with other ad inventory, CNBC reported.
“When you think about our store, our store footprint and the percentage of Americans that we reach through our stores, we can deliver Super Bowl-sized audiences every week,” Ryan Mayward, SVP of retail media sales for Walmart Connect, told the business news network.
Walmart will announce its earnings later this month.
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