{"id":21756,"date":"2024-12-02T01:41:18","date_gmt":"2024-12-02T01:41:18","guid":{"rendered":"https:\/\/mysourcefunding.com\/?p=21756"},"modified":"2024-12-02T01:41:19","modified_gmt":"2024-12-02T01:41:19","slug":"walmarts-retail-media-offering-isnt-coming-for-amazons-anytime-soon-buyers-say","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=21756","title":{"rendered":"Walmart\u2019s retail media offering isn\u2019t coming for Amazon\u2019s anytime soon, buyers say"},"content":{"rendered":"

<\/p>\n

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Walmart is the biggest and (quite literally) bluest retailer in the US, minting hundreds of billions in retail sales and making billions in digital advertising revenue.<\/p>\n

In the eyes of advertisers, though, it still doesn\u2019t hold a candle to Amazon.<\/p>\n

Even though Walmart has made strides growing its retail media platform, advertisers are still warming up to Walmart\u2019s capabilities this holiday season, media buyers told Marketing Brew.<\/p>\n

\u201cWalmart has not been the place where brands are focusing their e-com dollars,\u201d Ryan Dietrich, SVP of e-commerce, retail media, and technology at the agency Monks, told Marketing Brew. \u201cHistorically, we always told brands to treat Walmart as kind of like Amazon Canada, which means, as a rule of thumb, 10% of your Amazon US sales.\u201d<\/p>\n

Though media buyers say the company\u2019s retail media network has considerably more upside in recent years, Dietrich said Walmart still has ways to go before it makes a dent in Amazon\u2019s retail media market share.<\/p>\n

\u2018A long way to go\u2019<\/h2>\n

In many ways, comparing the two retailers\u2019 retail media platforms is a bit like comparing apples to a diamond-studded orange.<\/p>\n

Amazon\u2019s advertising business posted revenue of $14.3 billion last quarter. Meanwhile, Walmart\u2019s retail media business brought in around $3.4 billion for the 2024 fiscal year.<\/p>\n

Slowly but steadily, though, Walmart is expanding its retail media footprint. Its US ad business, Walmart Connect, grew by roughly 30% in Q2 and 26% in Q3, according to company earnings reports.<\/p>\n

\u201cWe\u2019re getting better at converting someone who may just be eyeballs looking at our website to actually completing a checkout and putting something in their basket and having that delivered to their house,\u201d Walmart CFO John David Rainey told investors this week. \u201cWe\u2019re pleased with our progress, but it also indicates we still have a long way to go.\u201d<\/p>\n

Talk about an understatement. Overall, roughly 180 million Amazon customers in the US have Prime accounts, according to Consumer Intelligence Research Partners data cited by Bloomberg in April. Walmart+, Walmart\u2019s subscription shopping offering, had roughly 8 million subscribers as of last year, according to the Wall Street Journal. And while Amazon was the No. 4 most-visited website in the US in October, according to SimilarWeb, Walmart was No. 19.<\/p>\n

If any company is going to challenge Amazon, though, one might expect it to be Walmart, which has looked to set itself apart in the crowded retail media category where brands from Kroger to United Airlines are vying for advertising budgets.<\/p>\n

\u201cWalmart is the only real challenger, and it\u2019s a distant second,\u201d Sky Canaves, a principal analyst at eMarketer covering retail and e-commerce, told Marketing Brew.<\/p>\n

Making moves<\/h2>\n

In 2021, Walmart made a splash on Madison Avenue by partnering with The Trade Desk. The partnership married Walmart\u2019s own data to The Trade Desk\u2019s programmatic ecosystem, helping advertisers find potential Walmart customers across the internet, and while this helped attract advertisers out of the gate, it also means Walmart doesn\u2019t own those ad tech pipes.<\/p>\n

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Get marketing news you’ll actually want to read<\/h5>\n

Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides.<\/p>\n<\/div>\n<\/div>\n

When asked about the retailer\u2019s deal with The Trade Desk, Walmart spokesperson Julia Thornton told Marketing Brew that Walmart doesn\u2019t \u201cdisclose financial arrangements with our tech partners. However, as it pertains to our advertisers, we honor transparent pricing.\u201d<\/p>\n

As Amazon has pitched its own DSP, it has grown into a more formidable player, Mike Feldman, SVP and global head of retail media at VaynerMedia, told Marketing Brew. The industry seems to agree, with Digiday reporting earlier this month that typically large advertisers have found lower fees and CPMs on the platform compared to competitor DSPs. The DSP is also the only way to programmatically buy inventory on Prime Video.<\/p>\n

\u201cAmazon sort of took their lumps\u2026it\u2019s certainly a lot better, and it compares a lot better to [something] like The Trade Desk,\u201d Feldman said.<\/p>\n

Dietrich said many brands aren\u2019t clamoring to promote products that aren\u2019t already on Walmart\u2019s shelves, while Amazon\u2019s inventory, of course, is seemingly endless. \u201cIf your brand isn\u2019t in store in Walmart, you aren\u2019t over-indexing,\u201d he said.<\/p>\n

Dietrich said he advises retail brands to advertise on Walmart to reach the retailer\u2019s own brick-and-mortar shoppers who have turned to its online offering, not to reach Amazon shoppers elsewhere online. Walmart has shared with buyers that 80% of Walmart.com customers visit a physical Walmart store within a week of visiting the website, he said.<\/p>\n

That means that, at least for some brands, Walmart isn\u2019t siphoning many ad dollars away from Amazon. Dietrich recommends advertisers allocate budgets for both, since there\u2019s such a significant overlap in customers, he told us. \u201cThis is not a platform I\u2019d redirect Amazon dollars to,\u201d he said. \u201cIt\u2019s a platform that deserves its own investment.\u201d<\/p>\n

This holiday season, there are some other potential bright spots, including Walmart Creator, Walmart\u2019s creator affiliate program, introduced in 2022, which has attracted interest from advertisers, especially among more cautious brands that are wary of TikTok and are already spending on Walmart, Feldman said.<\/p>\n

\u201cI\u2019m shopping that deck around to anyone that wants to do it, because I think it\u2019s a slam dunk,\u201d Feldman said.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Walmart is the biggest and (quite literally) bluest retailer in the US, minting hundreds of billions in retail sales and making billions in digital advertising revenue. In the eyes of advertisers, though, it still doesn\u2019t hold a candle to Amazon. Even though Walmart has made strides growing its retail media platform, advertisers are still warming […]<\/p>\n","protected":false},"author":1,"featured_media":21757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[78],"tags":[],"class_list":{"0":"post-21756","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing"},"yoast_head":"\nWalmart\u2019s retail media offering isn\u2019t coming for Amazon\u2019s anytime soon, buyers say | Brandiary<\/title>\n<meta name=\"description\" content=\"Walmart is the biggest and (quite literally) bluest retailer in the US, minting hundreds of billions in retail sales and making billions in digital\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mysourcefunding.com\/?p=21756\" 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