Walmart (WMT) The 6th Annual Evercore Consumer & Retail Conference summary

Growth strategy and business model evolution

• Focus on expanding complementary businesses such as third-party marketplace, retail media, data ventures, and membership programs across international markets.

• Acquisition of VIZIO enhances connected TV advertising, aligning with broader advertising and technology-driven growth.

• Emphasis on building global platforms that can be scaled across geographies, leveraging learnings from different markets.

• Marketplace and fulfillment services are prioritized for assortment expansion and delivery speed, driving conversion and customer satisfaction.

• Membership programs like Walmart+ are being rebranded and expanded internationally, with strong links to increased loyalty and spend.

Advertising and retail media

• Retail media, including Walmart Connect, is a critical growth driver with a $6 billion business and 40% growth.

• Advertising is tightly integrated with e-commerce, offering higher margins and benefiting both customers and sellers.

• Experimentation and AB testing are used to optimize ad load and customer experience, ensuring ads remain accretive.

• Connected TV and digital advertising are seen as complementary, with ongoing investments in technology and data.

• Retail media is positioned as contextually relevant, introducing customers to new brands and products.

Membership and customer engagement

• Membership drives higher spend, frequency, and loyalty, with omni-channel strategies encouraging in-store customers to try e-commerce and membership.

• Membership, marketplace, and advertising are managed as interconnected businesses, maximizing their complementary effects.

• Data from membership programs is leveraged to enhance personalization and customer experience.