Since last week’s news that Walmart and The Trade Desk might have an evolving relationship (per a report by The Information)—though TTD quickly put out a statement saying it’s basically business as usual and its partnership with Walmart remains strong—many are now speculating about what could happen if Walmart were to look at other DSPs or adtech companies to partner with.
With that in mind, enter this exchange on X between CivicScience’s Doug Lauretano and Marketecture’s Ari Paparo: Lauretano suggested that Criteo, which has been strong in retail media, could be a good buy for Walmart. Paparo replied, “It makes so much sense.” Lauretano followed with: “Almost too much sense.” See the full exchange for more:
Why This Matters:
Ultimately, let’s step back and look at the big picture. This discussion highlights Walmart’s ambitions to expand further into adtech, especially following its $2.3 billion acquisition of smart TV manufacturer Vizio—a deal widely seen as a way to accelerate its advertising business and better compete with Amazon in connected TV and retail media.
Whether through TTD, another partner, or multiple partners, Walmart knows it is well-positioned to become more Amazon-esque in accelerating its advertising, adtech, and retail media business. Amazon has figured out how to aggressively scale and integrate its advertising operation, and Walmart—given its size and central role in the shopping journey—has the potential to do the same. Walmart reports earnings on Thursday, and what it says about its ads business could provide more insight into possible next steps. (The tension between a traditional retailer business harmed by tariffs and a digital advertising business will be interesting.)
Experts React:
Here are some additional Walmart and TTD posts on X to consider:
Our Take:
We think TTD and Walmart will mostly be fine. By the way, the stock gained over 5% today.
Ultimately, the Walmart situation may simply come down to negotiating on price. But the bigger picture, in our view, remains Walmart’s ambitions—along with those of Target, Home Depot, and other major retailers—to capture more advertising dollars. Interestingly, this also echoes Google’s antitrust defense, when it argued that it competes with retailers like Walmart in advertising—a reframing meant to broaden how regulators view the market. Maybe they were right?
