Walmart's advertising business generated $2.1 billion in revenue last year as the big-box retailer expanded its marketing technology stack, according to an earnings release. It was the first time the company has broken out advertising financials in its reporting.
In the U.S., Walmart Connect saw the number of advertisers using its services grow 136% year-on-year in 2021. Discussing the fourth-quarter and full-year results with analysts, executives stated they see "large growth opportunities" ahead and reaffirmed that they expect Walmart Connect will be a top-10 advertising platform within the next few years.
Technology will play an increasingly central role in that plan. Roughly half of Walmart's ad sales in Q4 — a quarter that contains the crucial holiday window — came from automated channels, executives said. That level of activity is more than double what the retailer saw over the same period the year prior.
SOURCE: Marketing Dive