Walmart is rolling out a new ad strategy that leans into third party ads placed in the self-checkout aisle and TV aisles.
The retailer will use screens in self-checkout areas and TV aisles, radio ads over its in-store audio network, and demo stations — which are platforms where brands can show their product — to push products and deals, reports CNBC.
For now,the demo stations will only run over weekends, and advertisers will have the option to bundle the stations with 30-second radio ads and screen time.
Demo stations will also have QR codes targeting shoppers with special deals, recipes, and seasonal ideas. Walmart piloted the stations in Dallas-Fort Worth and plans on rolling them out in more than 1,000 stores by the end of January 2024.
Retail media could be a gold mine for retailers — as recent data from the market researcher Insider Intelligence says the medium is on pace to generate $45 billion this year, a 20% increase over last year. Sales from retail media could generate as much as $106 billion by 2027, the study says.
Kroger is also boosting its retail media efforts, via a new in-house advertising platform, as well as adding digital screens to implement video advertising across 500 of its stores.