shopping cart with groceries

Walmart Stretches Reach Through Ad-Sales Business



Ads to Appear on Self-Checkout Screens

Walmart (WMT) is working on an overhaul of its ad-sales group, Walmart Media Group. The new advertising arm, renamed Walmart Connect, will feature new advertising technology for companies to use, and will offer available targeted ad space on Walmart’s in-store checkout screens.

The move comes as part of Walmart’s larger campaign to diversify its revenue and enter the ranks of the top 10 ad companies. Representatives say Walmart Media Group has doubled its advertising customers and revenue in the past year.

Brands will soon be able to use customer data collected by Walmart to target consumers around the internet. Until now, most advertisers took advantage of Walmart’s data solely to market to consumers on the Walmart website and app.

Retailers Compete with Tech Giants on Ads

Walmart is not alone in its ad diversification efforts. Other retailers like Kroger (KR) and Target (TGT) have also been exploring the digital ad space. The larger strategy is to uncover a new revenue stream by providing advertisers with access to the growing ranks of online shoppers on these retailers’ websites.

Walmart is not yet able to compete with online advertising giants like Alphabet’s Google (GOOGL), Facebook (FB), and Amazon (AMZN). But it does have an angle that these online platforms do not: Walmart has access to both online and in-store shoppers. That expanded data could help the company compete with online-only ad sellers. Walmart eventually plans to let advertisers purchase targeted ad space on display screens in all 4,500 of its stores.

Pandemic Drives Walmart’s Ad Push

The ecommerce boom resulting from the pandemic has accelerated Walmart’s moves into the digital ad space. In the most recent quarter, Walmart’s e-commerce sales jumped by 79%. Those sales made up a heavy portion of the company’s larger gains. Target, Kroger, and many other brick-and-mortar retailers also saw online sales boom in the most recent quarter.

If the pandemic shopping trends continue in a post-pandemic world, Walmart could have a head start in modernizing its ad sales for new types of shoppers. Leaders in the advertising industry as well as the retail space will be eager to see how Walmart’s initiatives take shape.

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS21012903


All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT SoFi SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than one million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. For more information, visit SoFi.com. Want an easy and convenient way to manage your financial life? Get the SoFi app. For iOS and Android.


TLS 1.2 Encrypted
Equal Housing Lender