Walmart is stepping up its retail media strategy

Walmart continues to expand his business retail media, Walmart Connect, with new advertising experiences in retail. The company already offers a range of in-store activations for advertisers, but is now going one step further. As reported by CNBC, the brands’ ads will be projected onto checkout screens and on-screen TVs, they will play background music on the store’s radio station, and they will sponsor booths where customers can try new products first-hand.

“Grab customers’ attention with prime placement on thousands of TV screens in stores across the country. This allows you to nurture and influence Walmart customers as they make purchasing decisions,” Walmart Connect reveals on its website. The company also emphasizes that thanks to the closed-loop measurement “it is possible to check when the ads in the self-checkout box influence a later purchase in our digital offers or the next entrance”.

«When you think about our store, our retail space, and the percentage of Americans we reach, we can reach an audience the size of a Super Bowl every week.“, he showed Ryan Mayward, Vice President of Sales at Walmart Connect.

According to the media cited, the US company plans to increase in-store advertising by utilizing its approximately 170,000 digital screens at its locations, as well as 30-second radio spots to be made available to suppliers later this year.

Advertising still accounts for a small portion of Walmart’s overall sales. Its global advertising business reached $2.7 million in its most recent fiscal year ended January 2023, accounting for less than 1% of the company’s total revenue. However, the advertising business is becoming an increasingly important growth driver for Walmart. Actually, Walmart Connect has grown about 40% in its last fiscal year.

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Walmart’s foray into retail media parallels similar moves by other retailers such as Krogerwhich last May announced an agreement with Cooler Screens to introduce digital smart screens in 500 of its stores in the United States.

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