Dive Brief:
- Walmart has added several API partners to its Walmart Connect retail media network, according to a company blog post. The new partners are in addition to a previously announced integration with e-commerce platform CommerceIQ.
- The new partners include ad optimization platform Intentwise, e-commerce ad platform Perpetua, e-commerce cross-channel ad platform Quartile and e-commerce ad optimization platform Sellozo. Advertisers will soon be able to tap into additional platform partners across ad tech, measurement, e-commerce and shopper marketing.
- The retailer’s continued moves to beef up Walmart Connect come as its ad business is growing while its core retail and e-commerce businesses feel increased economic pressure.
Dive Insight:
Walmart’s latest move to add features and self-service capabilities to its growing Walmart Connect platform comes at a time when the retail media network space is becoming more competitive as Amazon, Target and others look to meet strong interest from brands in leveraging retailers’ data to optimize their marketing efforts.
Partnerships are already yielding value for advertisers on Walmart Connect: The retailer noted how BirdRock Brands utilized Pacvue to scale its manual Sponsored Products campaigns and saw a return on ad spend 11% higher than its target and an 83% increase in sales quarter over quarter.
“We’re evolving Walmart Connect’s partnership solutions to help advertisers make every media moment a retail moment, by connecting with customers in a meaningful way at any point in their shopping journey,” said Diana Finster, head of agency and tech partnerships for Walmart Connect, in the blog post.
Key to the latest evolution is the addition of several API partners, which now number 14 in total, that specialize in a combination of e-commerce ads, ad optimization and cross-channel advertising. Intentwise, Perpetua, Quartile and Sellozo join CommerceIQ, a provider of e-commerce management solutions, that Walmart partnered with last month.
In addition to its owned, onsite channels, Walmart Connect allows advertisers to reach other channels through the Walmart DSP, which the retailer launched in partnership with The Trade Desk in 2021. Colgate-Palmolive recently utilized Walmart Onsite and Offsite Display through Walmart DSP and Walmart Connect’s campaign recommendations to drive 30% in new buyers for its dorm essentials range, with an 8% sales lift and $11.16 return on ad spend, per the blog post.
Walmart in May announced that its global advertising business grew 30% year-on-year in its Q1 2023 earnings period while its core business and e-commerce sales were affected by inflationary and other pressures. The company has since lowered its profit outlook for Q2 and the rest of the fiscal year as consumers start to feel the effects of inflation, making Walmart Connect an even more important part of its business.
