Now that digital and social media are reaching what Walmart U.S. Chief Marketing Officer Stephen Quinn calls "critical mass," the retail giant is reshaping its marketing team and changing how it works with suppliers including buying media for them.
WMX is Walmart's play to apply "big data" to marketing, Ms. Young. So it involves using Walmart's own trove of data from Walmart.com to store sales to social-media platforms and third-party data. The retailer wants to fill in one of the gaps in that data with its Savings Catcher program designed to get shoppers to input their offline store receipts into their Walmart app, which will generate a database the retailer hopes will rival those of other retailers' loyalty programs.
"On top of that," Ms. Young said, "we will build all of the other data populations you can use to create customer segments. And then, yes, we will use that in partnership to go out and buy media on behalf of our suppliers."
Walmart's New System Will Buy Media for Retailer -- And Its Suppliers
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