ClickZ Walmart Insights Newsletter - 10.17.2024

PLUS: Accessibility takes the fast lane to 8,000 stores

Author

Sophie Bruxner-Randall
October 17, 2024

Ad Week New York 🎤

ADVERTISING INSIGHTS
Advertising Week NYC Recap

💡 Balancing Fame and Flow in a Post-Privacy Landscape, by Sam Carter, CEO of Fospha.

AdWeek NYC 2024 was packed full of fresh ideas and powerful reminders of evergreen principles. From navigating privacy challenges to ensuring sustainable brand growth, here are my key takeaways that all brands should be implementing:

  1. Balance Fame and Flow: Brands that focus too much on short-term conversions and neglect long-term brand-building efforts fall into the ‘doom loop’, converting only existing demand without generating new demand. Eventually the convertible audience is exhausted, efficiency plummets, and the brand finds itself in trouble. To avoid this, brands need to strike the right balance between conversion and long-term brand awareness to sustain growth.

  2. Go Full-Funnel for Measurement: To balance short and long-term goals of conversion and brand awareness, marketing teams need to be able to measure the impact of both. Last Click attribution chronically undervalues awareness activities, so brands should opt instead for measurement tools that use a full-funnel methodology.

  3. Privacy-Proof Your Tech Stack: With third-party cookies deprecation and new privacy regulations cropping up regularly, brands need to accept the death of user-level data and embrace privacy-centric solutions to future-proof their measurement. 

Read the full article here. 

Hot in D2C eCommerce 🔥

AI POWERS PRIME
Amazon Prime Big Deal Days 2024 Breaks Records with AI and Innovation (top links below 👇)

Amazon’s Prime Big Deal Days 2024 made history with the largest October shopping event ever, saving Prime members over $1 billion globally. This year’s event highlighted Amazon’s cutting-edge AI tools, including its AI assistant, Rufus, and drove massive sales across electronics, toys, and apparel. Top brands like Apple and Dyson offered unbeatable deals, setting the stage for a promising holiday shopping season.

Momentum Commerce reported a 41% sales increase on Day 1, with brands like Crocs and Lego leading the charge, while regions like Canada and Europe saw notable growth despite weather impacts affecting the U.S. Competitors Target and Walmart also launched early sales events, but Amazon's use of innovative shopping tools and AI set it apart in an increasingly competitive market.

For deeper insights into this record-breaking event, explore these key sources:

Specialty Bites 🍪

Walmart is expanding its pet care services, offering affordable veterinary care, grooming, and prescription delivery. New service centers will open in Georgia and Arizona, with online vet access via Pawp. This initiative aims to provide convenient, low-cost pet care, reinforcing Walmart's commitment to pet owners' needs.

Walmart is embracing cutting-edge technologies like AI, generative AI, and augmented reality to enhance your shopping experience. These innovations aim to create personalized, convenient, and engaging interactions across stores, apps, and virtual platforms. Imagine a homepage tailored just for you, simulating a store experience crafted to your preferences.

The retailer's proprietary GenAI platform, Wallaby, uses large language models to deliver contextual responses, while the content decision platform curates shopping experiences based on individual preferences. By 2025, expect a personalized online shopping experience in the US, with plans to expand to Canada and Mexico. Additionally, the AR platform Retina will generate 3D assets, offering new virtual shopping spaces and revenue opportunities.

Walmart Marketplace is expanding with new categories like Premium Beauty and Pre-owned items, enhancing omnichannel solutions for sellers. Innovations include Walmart LocalFinds and Multichannel Solutions, aiming to boost seller success and customer experience. These efforts reflect Walmart's commitment to becoming a leading omnichannel retailer.

Walmart is enhancing inclusivity by introducing Caroline's Carts in Colorado stores, aiding caregivers of individuals with disabilities. This initiative, part of a broader accessibility commitment, complements sensory-friendly hours. By early 2025, Walmart plans to distribute 8,000 carts nationwide, significantly increasing accessibility for diverse customer needs.

Home Depot and Walmart are enhancing their retail media networks. Home Depot's Orange Apron Media and Walmart's Luminate offer self-service platforms for advertisers. Vantage supports Home Depot's tech stack, while Walmart's spending rose 31% due to grocery and CPG strength. Both aim to optimize advertising strategies.

Performance Platters 🍽️

Microsoft is transitioning from its retail media platform, PromoteIQ, to a partnership with Criteo. This shift reflects the evolving retail media landscape, emphasizing the need for adaptable strategies. While PromoteIQ's closure isn't officially announced, the move highlights the importance of resilient, owned architectures in the dynamic ad tech industry.

Retailers often miss revenue opportunities throughout the purchase funnel, from accessibility issues to ineffective discount strategies and poor mobile optimization. In this insightful podcast, experts explore how optimizing these areas can reduce cart abandonment and boost customer retention. Additionally, they discuss how strategic return policies can enhance customer loyalty while minimizing losses. Listen now for actionable tips to create a more profitable retail experience.

LoopMe introduces Brand Outcome Scores, an AI-driven tool enhancing ad performance by predicting ad effectiveness without cookies. This innovation aids marketers in optimizing campaigns across mobile video, CTV, and display ads. Initially launching in the US and UK, BOS aims to revolutionize advertising strategies globally.

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