How Walmart Became a Force in the $54bn Retail Advertising Industry

• Walmart reported rising sales of household items, but its profits surged due to its advertising business, Walmart Connect.
• The US retail media industry is projected to exceed $54bn in 2024, with Walmart claiming a 6.8% market share and $3.7bn in ad revenue.
• Walmart's ad business grew 30% in the past year, outpacing the company's overall growth, driven by sponsored search results and in-store advertising.
• Walmart's planned $2.3bn acquisition of Vizio aims to enhance its advertising capabilities through targeted ads on connected TVs.
• Analysts foresee potential conflicts between big retailers and brands, with concerns over the pressure to buy ads for better shelf access and the risk of annoying consumers with pervasive advertising.

Source: Financial Times