Walmart (WMT) Goldman Sachs Communacopia + Technology Conference 2026 summary

Leadership and platform evolution

• Walmart Connect has shifted from a premium publisher model to a scalable, self-service ad platform over the past 3–4 years, enabling both large and small advertisers to access performance-driven advertising.

• The business now emphasizes API-enabled, easy-to-use tools and an ecosystem of service providers, supporting thousands of advertisers and facilitating measurable ROI.

• The evolution is driven by the need to accommodate a diverse advertiser base, including Marketplace sellers, and to compete with leading digital ad platforms.

• Recent acquisitions, such as VIZIO, support the transition to a broader advertising platform beyond traditional retail media.

Marketplace and advertiser diversity

• Growth in Marketplace sellers has diversified the advertiser base, increasing competition and driving stable ad revenue.

• The platform now attracts both endemic and non-endemic advertisers, including local businesses and brands not selling products at Walmart.

• Non-endemic advertising is expanding through placements in the Walmart app and CTV, with VIZIO and VIZIO acquisitions accelerating this trend.

Connected TV (CTV) and partnerships

• The VIZIO acquisition enables Walmart to offer self-service CTV advertising, targeting small and local advertisers with easy campaign management and Walmart data integration.

• VIZIO OS has become the top smart TV operating system in the U.S., expanding reach for advertisers.

• Partnerships with Magnite, Yahoo, and Google allow advertisers to use Walmart data for targeting and measurement across multiple DSPs and platforms, including YouTube.