Walmart and eBay reign supreme in the growing retail media network space

In the digital age, more screens means potentially more eyeballs on a brand, and many retailers are taking advantage of that.

Retail media networks, advertising platforms where retailers offer ad space to third parties, are more prevalent than ever. Insider Intelligence’s Andrew Lipsman even said 2023 is “retail media’s inflection point.”

As with any business strategy, however, some do it better than others, and marketers have their opinions about who’s doing it well and who isn’t.

Wally’s world: A survey of 215 marketers found that 36% believe Walmart has the most promising retail media network in the brick-and-mortar space, according to global tech firm Lotame.

• Last week, CNBC reported that the company is aggressively pushing into the space with more third-party ads displayed at self-checkout lanes, TV sections, and even the store’s sound system.
• In the physical space, marketers thought Target (15%) was the next most promising, followed by Costco (12%), Best Buy (5%), Ulta (5%), Sam’s Club (4%), and Lowe’s (4%).

“When you think about our store, our store footprint and the percentage of Americans that we reach through our stores, we can deliver Super Bowl-sized audiences every week,” Ryan Mayward, senior vice president of retail media sales for Walmart Connect, the retailer’s advertising business, told CNBC.

Swipe up: As for the digital world, outside of Amazon, 34% of respondents believe eBay’s retail media network has the most going for it, followed by Etsy (19%), Uber (15%), and Instacart (15%).

• In an earnings call earlier this year, eBay CEO Jamie Iannone said the company’s network only has “room to grow,” given the growth of e-commerce broadly and the emphasis on collecting first-party data through loyalty programs and transactions.

“These findings offer a valuable perspective for advertisers, retailers, and marketers alike to refine their strategies and tailor their efforts to the most promising platforms,” Fred Marthoz, VP of revenue and global partnerships at Lotame, said in a statement. “As the retail landscape continues to evolve, understanding consumer preferences and perceptions will be key to driving growth and meaningful engagement.”—KM