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After Walmart’s earnings report shocked Wall Street on Tuesday, CEO Doug McMillon told CNBC’s Jim Cramer that his company has a unique advantage in advertising. Ta.
“As your digital reach expands and your e-commerce business grows as much as we do, you have the opportunity to sell advertising and we can connect the dots for advertisers,” McMillon said.
McMillon added that Walmart’s global advertising business grew 28% for the year, with the major retailer’s e-commerce sales exceeding $100 billion for the first time. The company also announced Tuesday that it will acquire TV maker Vizio for $2.3 billion to further grow its advertising business.
McMillon said Walmart’s strength lies in its reach and ability to effectively measure advertising success.
“if [advertisers] For example, if you advertise with digital ads and a customer transacts at your store or club a week later, you can connect that to the customer and let them know that your ad actually worked. ” he said. I have it. ”
McMillon also said part of Wal-Mart’s recent success lies in its ability to attract and retain customers across income brackets, as well as its focus on convenience. He said the company has managed to keep prices in a “good range” despite stubborn inflation and offers customers a variety of delivery services, including its Walmart+ subscription program. .
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