WASHINGTON (Reuters) – Walmart Inc will meet large consumer goods companies and advertising firms for the first time in New York next week to pitch its advertising business, as the world’s largest retailer aims to rev up its website and stores as a platform for other companies to reach customers.
The event marks Walmart’s first effort to grow its nascent advertising business and heralds the retailer’s rising challenge to online ad leaders Alphabet Inc’s Google, Facebook Inc and Amazon.com Inc.
Event - Walmart - Store - Retailer - Hometown
The event, called “5260,” is named after a Walmart store near the retailer’s hometown of Bentonville, Arkansas, which is known for being a test lab for retail innovation, Walmart told Reuters.
It is likely to be attended by hundreds of companies ranging from Procter & Gamble, Unilever and Coca Cola to Mattel, Glaxosmithkline and NBC Universal, multiple sources familiar with the matter told Reuters. The country’s top marketing and advertising firms are also likely to be in attendance, the sources, who did not wish to be named, added.
Walmart - Attendees
Walmart declined to name the attendees.
Walmart’s pitch will be simple: encourage some of the biggest advertisers to shift their spending to Walmart and away from rivals like Google, Facebook Inc and Amazon. And Walmart says that its massive customer base and data on what shoppers purchase give it a compelling edge.
Consumer - Behavior - Number - Shoppers - Product
As consumer behavior has shifted, a growing number of shoppers now begin their product searches on Amazon instead of Google, forcing companies to move their ad budgets to Amazon – a significant change that bodes well for Walmart.
Walmart heralded its ambitions at its shareholder meeting last year when Chief Executive Doug McMillon said, “We have a tiny ad business. … It could be bigger.”
Walmart - Advertising - In-house - Ad - Sales
Since then, Walmart has bought its website advertising in-house, consolidated ad sales for its stores and website under the Walmart Media Group and...
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