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Millennial, Gen-Z Opps: Walmart acquires adtech startup, continues spend increases
reportedly adding machine-learning tools for ad optimization.
The move comes as Walmart has been trying to shake-up its strategy and improve its digital marketing to better compete against competitors like Amazon. Remember that the retailer just streaming shoppable programming via its Vudu platform.
These efforts are helping Walmart better target millennials and Gen-Z, which the retailer has also been doing with its numerous said the company aims to grow to about 40 digitally native brands.
Walmart has also been increasing millennial and Gen-Z engagement with partnership with DC.
These acquisitions and initiatives have resulted in spend increases, and these spend increases should continue. During Q4 2019, Walmart saw same-stores sales in the US grow 4.2%, e-Commerce sales grow 43% and revenue total $138.79B. Since this beat expectations (heck, it even beat Amazon) share price soared, which will also give the company some more money to work with.
In addition, Walmart promoted Matt Langston from associate marketing, product strategy & planning director to associate seasonal marketing director (March). It is looking for a number of new personnel, all of whom can be viewed here, as well. Spend should see upticks under this leadership, too.
With spend set to increase and new initiatives to secure revenue from, sellers should reach out. As noted, Walmart now wants to target millennials and Gen-Z. It spends highly throughout the year, but there's usually a spike during Q3 and Q4.
Please view digital display spend, courtesy of here. The company also uses print, outdoor, radio, social media, earned media, experiential, sponsorships and cause marketing. Note that we do not have spend available for Polymorph.
Agency & martech readers -- Walmart expired from the Publicis's Walmart shop, which handles creative.
Please read more about Walmart and its subsidiaries here.