Walmart Looks To Follow Alibaba, Amazon Route To Drive Sales

Walmart Inc WMT could launch a platform using social media influencers to help the retailer and its third-party sellers promote their goods and services online, Reuters reports.
Walmart filed trademarks for "Walmart Creator" and "Walmart Creator Collective," according to the July 27 documents.
Walmart currently works with influencers to promote its groceries, apparel, and its Walmart+ loyalty program.
Also Read: Walmart Spices Up Amazon Rivalry By Collaborating With Paramount - Report
Influencers often have large followings on Instagram, YouTube, and TikTok and recommend products by posting affiliate links.
Influencer marketing will likely grow into a $16.4 billion industry in 2022.
Meanwhile, Alibaba Group Holding Limited BABA, Shopify Inc SHOP, and Amazon.com Inc AMZN have social-media influencer services to drive their revenue stream.
For reference, China's shopping extravaganza "618" registered a GMV of 695.9 billion RMB from the major e-commerce platforms, including traditional e-commerce platforms and live-streaming e-commerce platforms. Livestreaming e-commerce platforms posted a GMV of 144.5 billion.
Walmart's third-party sellers can currently purchase ads from Walmart Connect, the retailer's digital advertising business.
Growing its e-commerce business, including its delivery- subscription service Walmart Plus has been a priority for Walmart, with plans to launch new services for sellers.
This year Walmart dumped its shopping extravaganza for 2022 that overlapped with Amazon Prime Day. Contrastingly, Amazon will host a second shopping event for Prime members in the fourth quarter.
Price Action: WMT shares traded lower by 0.29% at $139.11 on the last check Thursday.
Photo via Wikimedia Commons

Market News and Data brought to you by Benzinga APIs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comments