Unique ad proposition: Longevity
Target claims more than 15 years in the retail media space, blending ad solutions across search, on-platform and in-store. Its RMN Roundel was launched in 2016.
Last year, it added partnerships with over 40 new premium publishers and apps. Its “One Target” approach works across digital, marketing, loyalty and tech teams to help advertisers reach its more than 165 million shoppers.
What’s new in 2024: The retailer launched a self-service tool for advertisers in March called Roundel Media Studio, letting brands buy search ads directly.
Revenue: While Target doesn’t break out ad-specific revenue, Roundel “continues to drive more than $1.5 billion in value for our business and has grown more than 20% in 2023,” a spokesperson said.
Walgreens Advertising Group
Unique ad proposition: (Another) loyalty program of health enthusiasts
Founded in December 2020, Walgreens Advertising Group (wag) highlights its nearly 9,000 retail locations across the U.S. and Puerto Rico—making it neck-and-neck with its category competitor CVS. The two pharmacy chains’ retail media businesses have been in a race for dominance in the health and wellness space, and the jury’s still out on whether one will take a decisive lead.
In 2022, the company announced self-serve programmatic and clean room solutions through partnerships with The Trade Desk, OpenX and Epsilon. Walgreens claims 95 million members in its loyalty program, according to a press release at the time.
What’s new in 2024: Walgreens Advertising Group has not yet made any announcements regarding new tools for 2024 and did not respond to ADWEEK’s request for comment.
Revenue: Walgreens Advertising Group did not respond to ADWEEK’s questions regarding revenue.
Walmart Connect
Unique ad proposition: Scale
First formalized as Walmart Media Network in 2005, the omnichannel retailer rebranded to Walmart Connect in 2021. A clear runner-up to Amazon’s domination of the retail media space based on Emarketer data, Walmart’s ecommerce business surpassed $100 billion in revenue in 2023. The retail giant has over 5,000 retail locations between Walmart and Sam’s Club in the U.S. and over 10,000 worldwide.
What’s new in 2024: This year, Walmart is focusing in-store by bolstering its onsite digital display, which is shifting to mainly programmatic and auction-based and will be available to all brands from this month. It’s also expanding targeting, measurement, self-serve creative capabilities and support for non-endemic advertisers this year, and building out in-store sampling and demo opportunities for advertisers. Recent pilots with TikTok and Roku are also rolling out to advertisers this year.
Revenue: Walmart’s global advertising business, which includes Walmart Connect, grew 28% to $3.4 billion in 2023, according to its year-end earnings report.
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