Walmart Rebrands Advertising Business, Plans to Expand Both Online and In-Store Advertising
BENTONVILLE, AR - Changes are always happening in the retail world, whether they be subtle or monumental. Leaning toward the monumental side, Walmart has recently announced a rebrand, revealing the revamp of its advertising business, which includes a new look and even a new name.
“Walmart has always connected customers and the great brands they love, and now we have the ability to offer an easy-to-use platform to enhance those connections at scale,” said Chief Customer Officer Janey Whiteside.
Previously known as Walmart Media Group, the company will now be called Walmart Connect, according to a press release. The new name is a reflection of the company’s ability to establish a unique connection between brands and the retailer’s 150 million weekly shoppers.
“We’ve built a substantial business that can serve clients in a way no one else can—as a closed-loop omnichannel media company,” Whiteside continued. “By expanding our offerings, we’re creating measurable value for our partners and customers alike in our ecosystem and beyond.”
According to an interview quoted in an article by CNBC, Whiteside said that the physical footprint is a major differentiator for the advertising operation.
“We’re pretty confident that we’re going to be able to grow this business to become one of the top 10 advertising platforms in the U.S. over the next few years. If somebody sees an ad online and later buys that [item] in the store a day, a week, later, we can connect that together ... which historically, advertisers haven’t been able to get,” she explained.
Harnessing the company’s closed-loop system and vast omnichannel presence, Walmart Connect creates ways for brands to become much closer to their intended audience in a way that doesn’t subtract from the customer experience.
While it has yet to be revealed how this will directly affect the retailer’s produce departments, ANUK will keep our eye on the newswire for answers.