EXCLUSIVE: Walmart to make first direct pitch to big corporate ad buyers at New York event by nanditab1
WASHINGTON - 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, 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. 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.”
Stefanie Jay, vice president and general manager of Walmart Media Group, told Reuters the company’s “core differentiator” is that its ad offerings are informed not just by online purchase behavior and intent but also by data on what people are buying in stores before and after they see an ad, something its online rivals are unable to see.
Along with Jay, other senior Walmart executives attending the event include Steve Bratspies, chief merchandising officer; Janey Whiteside, chief customer officer; and Charles Redfield, executive vice president of food for Walmart U.S.
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