Walmart Expands In-Store Media Network in a ‘Cautious Way’
Walmart is elevating its game by leveraging its vast audience and store footprint with Walmart Connect, its U.S. retail media network. This move includes in-store radio spots, demo stations on weekends, and greater use of in-store screens. With nearly 4,700 stores and 90% of Americans living within 10 miles of one, Walmart can reach Super Bowl-sized audiences every week.
To enhance the shopping experience, ads will be tailored to specific stores or regions. Walmart plans to utilize its 170,000 digital screens for targeted ads and offer 30-second in-store radio spots to suppliers.
But it's not just in-store! Walmart will partner with NBCUniversal to test retail media-powered ads within live sports streaming. The ad business is growing rapidly, and this innovative approach is expected to keep it soaring.
However, while retail media is lucrative, Walmart is being cautious not to disrupt the shopping experience. It is taking a measured approach based on customer feedback, aiming to strike the perfect balance between ads and convenience.
Here's what our BrainTrust has to say:
- Neil Saunders: “Walmart has hundreds of millions of visits each week. That’s a lot of eyeballs for brands to get in front of. So, there is scope to become more creative about advertising.”
- Gene Detroyer: Walmart’s first experience with dynamic in-store media dates back to the ’80s. They have continued with various forms and iterations since then. Research showed that retail media within the shopping geography drove sales, while at checkout it did little or nothing.
Curious to know more? Check out the full article on RetailWire for all the exciting details and join the conversation! (link in comments below)
#Walmart #RetailMedia #Advertising #Innovation #CustomerExperience #RetailWire