Retail Media Arms for Walmart and Kohl’s Get Major Boost
Both Walmart and Kohl’s are strengthening their retail media arms, expanding capabilities to reach wider audiences and automate processes.
Walmart Connect, the closed-loop media business for Walmart, has tapped CommerceIQ to automate management of its sponsored product and sponsored brand amplifier advertising.
The technology will allow the $2.1 billion global advertising business to optimize its retail-aware and share of voice algorithms to drive incremental sales and ROI.
Additionally, integrated full-funnel optimization will help activate shoppers across the purchase journey through onsite and offsite display advertising, and the company’s sponsored product and sponsored brand amplifier.
Walmart Connect will now have access to self-service reporting where brands can quickly build custom reports, flexible assumption models, and a strategy builder to drive automated actions on things like product launches and conversions. To make processes more efficient, the company is also leveraging machine-learning led automations.
“Walmart is a leader and true innovator in omnichannel and retail ecommerce. It is an honor to be selected as a Walmart Platform Partner,” said Guru Hariharan, CEO of CommerceIQ. “Advertisers love the reach of Walmart Connect’s retail media platform and have driven its explosive growth.”
Kohl’s Expanding In-House Retail Media Agency
In order to take advantage of increased opportunities with brands, such as adidas, Bali, Carter’s and Levi’s, as well as vendors and and partners, the company is expanding its in-house agency, Kohl’s Media Network (KMN).
KMN is continuing to expand with new enhancements like cross-targeting, omnichannel data integration, and closed-loop reporting. Brands can advertise on Kohl’s digital platforms and through off-site digital advertising.
On-site channels include sponsored product ads, brand pages, email ads, and Kohl’s App push notifications. Off-site channels include paid social and influencer ads, off-site display ads, video, and streaming audio.
The expansion looks to help advertisers work with Kohl’s Media Network to create awareness, influence and engagement, driving conversion with the Kohl’s customer through the full digital media suite.
To do this, the company is leveraging its engaged customer base of about 65 million across 1.7 billion website visits annually, and app, email, and in-person interactions.
“Our goal through Kohl’s Media Network is to leverage our vast omnichannel consumer data and insights to create innovative retail media solutions for our partners that connect them directly with personalized audiences,” said Christie Raymond, Kohl’s interim chief marketing officer.
“We look forward to continuing to grow our offerings with KMN to provide industry-leading services that drive business growth for Kohl’s, our partners and ultimately inspire discovery among our customers,” Raymond added.
Source: RIS News