TECH - CEO Doug Mcmillon Tells Jim Cramer He Foresees Bright Future For Walmart's Advertising Business: 'We Can Connect The Dots' | Benzinga
In a recent interview with Jim Cramer, Walmart Inc (NYSE:WMT) CEO Doug McMillon expressed his confidence in the company’s advertising sector. This comes after the retail giant’s strong performance in the digital and e-commerce space.
What Happened: McMillon, in a conversation with Cramer, highlighted the unique advantages that Walmart holds in the advertising domain, reported CNBC. He pointed out that the company’s expanding digital reach, coupled with the growth of its e-commerce business, presents a lucrative opportunity for advertising sales.
"When you grow your digital reach, and you've got an e-commerce business that's scaling like ours is," McMillon said.
"You get an opportunity to sell advertisements, and we can connect the dots for advertisers."
McMillon revealed that Walmart’s global advertising business witnessed a 28% increase over the year. The company’s e-commerce sales also surpassed $100 billion for the first time. To further bolster its advertising business, Walmart announced the acquisition of TV manufacturer Vizio for $2.3 billion.
"If [advertisers] advertise with a digital ad, for example, and a customer transacts a week later in a store or club, we can connect that up for them and let them know that ...