Walmart’s acquisition of smart TV manufacturer Vizio is official as of this week. The move further bolsters Walmart’s ad business, adding streaming capabilities to potentially attract more brand dollars. Walmart is just one on a growing list of retail media networks that’s after those dollars. Advertisers, however, are keeping the purse strings tied tight on brand budgets for now.
As more retailers launch their own ad networks, competition continues to grow for trade and shopper budgets. To meet that competition, Walmart and other retailers are eyeing brand budgets, rolling out ad opportunities in streaming, social and other off-platform channels. But the retail media space still faces challenges related to measurement and return on ad spend. Until those challenges are solved, advertisers don’t seem interested in parting with brand marketing dollars.
“None of my clients have said we’re getting ready to throw in a ton of dollars, and especially brand dollars, at this next year,” said Sarah Hoffman, group director of connections at TBWA\Chiat\Day. “I do think that they’ve got some work to do before anybody starts to run the piles of cash in their direction.”
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