Wal-mart Stores, Inc. (WMT) has organized an event called “5260” and invited large consumer good companies and advertising firms to attend the New York event in the coming week to pitch its first-ever advertising business. Apparently, the retailer is gearing up to persuade companies and advertisers to move their spending away from market rivals like Amazon (AMZN), Facebook (FB), and Google (GOOG). Walmart has not commented on the list of attendees, however, consumer brands like Procter & Gamble, Unilever, and Coca Cola to Mattel, GlaxoSmithKline and NBC Universal and top marketing advertising firms are expected to attend, as per sources.
Walmart is reported to believe that its vast consumer base and data gives it a competitive edge over its rivals. Recent consumer search trends are shifting from Google to Amazon driving companies to shift spends on Amazon.
Vice president & General Manager Walmart Media Group, Stefanie Jay, expressed that Walmart’s ad offerings are more informed and streamlined as it allows advertisers to see and analyze data by the consumer’s actions before and after visiting an ad. Jay stated “Advertisers are always looking for that complete picture to better understand where they should spend their ad dollars”, as per reports. Walmart to offer sponsored search and display ads for its advertisement offering.
Wal-mart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Wal-mart U.S., Wal-mart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page.
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