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Walmart revamps its ads business with hopes to become a top 10 advertising platform
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Walmart added a slew of strategic moves Thursday to revamp its in-house ad business, which included changing its name.
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Walmart Connect, formerly Walmart Media Group, will focus on three strategic areas that it hopes will position it to "become one of the top ten advertising platforms in the U.S. over five years," the Arkansas-bassed retailer said Thursday.
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With its "vast omnichannel presence" and 150 million weekly customers, the company said it would be able to "enhance" and "accelerate the connection between brands" and consumers.
As part of its updated strategy, the company plans to put advertiser messages "next to where customers are making purchasing decisions" both online and on the company's mobile app.