- Walmart Inc (NYSE: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 (NYSE: BABA), Shopify Inc (NYSE: SHOP), and Amazon.com Inc (NASDAQ: 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
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