Walmart Media Group Increased New Advertisers by 40 Percent
Daniel Johnson — December 28, 2020 — Business
References: corporate.walmart & retaildive
Walmart Media Group indicated that it increased its net new advertisers by a total of 40 percent this year, as more companies wanted to place ads on the retailors website.
Walmart Media Group initially created the self-serve ad platform at the beginning of the year and has focused on building out its media network ever since. The company also created an application programming interface for the Walmart Advertising Partners Program, which facilitated online automated actions for media purchases.
"While the pandemic did not create the omnichannel customer, it solidified the expectation of a seamless in-app to in-store shopping experience," said Walmart.
The advertising arm of the retailer also coupled with a focus on its e-commerce business, which grew by 79 percent in the third financial quarter of this year from the year previous.
Image Credit: Walmart
Walmart Media Group initially created the self-serve ad platform at the beginning of the year and has focused on building out its media network ever since. The company also created an application programming interface for the Walmart Advertising Partners Program, which facilitated online automated actions for media purchases.
"While the pandemic did not create the omnichannel customer, it solidified the expectation of a seamless in-app to in-store shopping experience," said Walmart.
The advertising arm of the retailer also coupled with a focus on its e-commerce business, which grew by 79 percent in the third financial quarter of this year from the year previous.
Image Credit: Walmart
Trend Themes
1. Increased Advertisers - The trend of increasing net new advertisers on Walmart's website presents disruptive innovation opportunities in targeted advertising and data-driven marketing.
2. Self-serve Ad Platform - The trend of self-serve ad platforms opens up disruptive innovation opportunities in automated ad buying and personalized ad campaigns.
3. Omnichannel Shopping Experience - The trend of seamless in-app to in-store shopping experiences creates disruptive innovation opportunities in integrating digital and physical retail experiences.
Industry Implications
1. Retail Advertising - The retail advertising industry can seize disruptive innovation opportunities by leveraging targeted advertising platforms and data-driven marketing strategies.
2. E-commerce - The e-commerce industry has disruptive innovation opportunities by embracing self-serve ad platforms and leveraging data to deliver personalized marketing campaigns.
3. Retail Technology - The retail technology industry can explore disruptive innovation opportunities by developing solutions that enable seamless omnichannel shopping experiences.
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