It's not only growth in spend but also the places where the advertising itself is likely to appear, besides ecommerce marketplaces and even more than the web.
The latest comes from Walmart Connect, the retail media arm of the world's largest retailer.
Walmart is showing a glimpse into testing the retailer is conducting on in-store retail media. So far, Walmart Connect has been the advertising platform for Walmart's ecommerce site. But these tests suggest that's about to get bigger.
Stores are an enormous opportunity for Walmart. It has 4,700 big box stores around the US and customers thronged them in droves last year. In calendar year 2022, 88 percent of the retailer's shoppers visited its stores.
Walmart Connect has already gone trial for in-store advertising using a TV wall, self-checkout ads and integrated marketing. The new pilots are going one step further.
"The next front of retail media is in-store experiences, and that is one we're excited to chart," said Whitney Cooper, head of omnichannel transformation at Walmart Connect, in a blog post on the new tests. "But it's still an emerging opportunity for us, as we continue to test what serves customers best and which solutions are scalable to Walmart's size."
Here are the two new offerings currently in beta test:
In-store demos
Product demos will be available for inclusion in campaigns in both in-store and digital environments for Walmart suppliers.
Product demos are nothing new to the store floor, but what Walmart Connect is hoping to introduce is an update that binds digital and physical experiences together.
Part of our test is how to enhance the omnichannel experience by taking that physical and pushing it back through a digital: For example, pairing a demo cart with QR codes that link back to a curated Walmart.com landing page so customers can find inspiration and shop their list all in one spot, Cooper wrote.
It's running 120 demos across the stores on weekends and will continue to increase to 1,000 by the end of 2023.
Audio in-store
Walmart Connect will also now include ad placement on Walmart's in-store radio network. Suppliers can buy ads by region or store, targeting key markets. This is the first time that brands will be able to speak directly to Walmart customers through this medium," Cooper writes. These ads also open up new upper-funnel touchpoints for brand marketers and out-of-home buyers to create awareness because in-store audio is about connecting with customers wherever they are in the store-they don't have to pass the brand in the aisle.
Through the tests, we will observe how this advertising is monitored, so whether Walmart Connect tracks impact across types of formats and not just a single campaign.