Commerce media is moving into its next phase. Walmart and Target are showing just how important advertising has become to the retail growth story, while Citi is pushing commerce media into financial services, and agencies are expanding deeper into Amazon and TikTok. Here are the moves shaping the market this week.
1. Walmart’s ad business grows 38%
Walmart’s global ad revenue grew 38% year over year in Q2, while its retail media arm, Walmart Connect, grew 43%, excluding Vizio.
The performance led Walmart to raise its full-year earnings guidance as it continues building out a commerce platform spanning in-store, ecommerce, marketplace, offsite media, and CTV.
