Walmart to roll out matchmaker market for social media influencers

By Pranali Mehta  | Date: 2022-08-19

Walmart to roll out matchmaker market for social media influencers

Multinational retail corporation Walmart has reportedly filed a trademark for "Walmart Creator" and "Walmart Creator Collective," enabling the delivery and promotion of goods and social media consulting services to others through influencers.

For the unversed, Walmart is working with influencers to promote its apparel and groceries along with the Walmart+ loyalty program. Influencers generally earn commission when customers make use of the links they post on their social media platforms.

As per the data published by media company Influencer Marketing Hub, influencer marketing is slated to become a $16.4 billion industry in 2022. Apparently, rivals Shopify and Amazon.com also own social media influencer services.

Upon being quizzed about the recent development, Walmart did not comment on its plans for Walmart Creator and Walmart Creator Collective.

Currently, Walmart Connect, the retailer's digital advertising segment, allows third-party vendors to buy ads. During its February earning call, it reported $2 billion in revenue for its ad business in the last fiscal year.

Walmart has further stated that expanding its e-commerce business with Walmart Plus, a delivery-subscription service is a priority for the firm, with plans to introduce new services for the sellers.

For the record, Walmart has around 240 million items online, and its second-quarter U.S. e-commerce sales have risen by 12% since last year.

Speaking on the recent development, Walmart CEO Doug McMillon stated that the connection between digital growth, advertising, and marketplace growth is something the firm is looking forward to benefiting from.

Furthermore, the global advertising business of Walmart, comprising Walmart Connect and its Indian e-commerce business Flipkart's ads, has seen over 30% growth yearly.

At its earning call, it also claimed that the number of active advertisers has grown by 121% since last year.

Source credit - https://www.businesstoday.in/business/story/walmart-explores-matchmaker-marketplace-for-social-media-influencers-344992-2022-08-18

About Author

Pranali Mehta     aeresearch.net

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta has dutifully walked down the slated path and worked in the chemicals industry for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience...

Read More