Smartphones, smart TVs, and even smart homes, it seems that everything is connected to the internet these days. It is near impossible to get anything done without Wi-Fi connection or subscribing to some sort of platform. Subscribing to a platform is basically signing a contract, and yet, how many of us really, genuinely read through the bulky terms and conditions we are warned to read before signing? This is often how companies, like social media platforms, make their money. More often than not, these terms and conditions state that our data will potentially be sold to a third-party and it is then used to make more targeted marketing ads aimed towards us.
Recently, Walmart made an announcement that it will be sharing the data of its customers who visit the Walmart official website or use the retailer’s app.
Latest development at Walmart
In June of last year, Walmart announced the beta launch of its latest venture called Digital Landscapes. Digital Landscapes will be launched through Walmart Luminate and will act as a “self-serve insights solution” that aims to help suppliers better understand customer needs and preferences.
Previously, suppliers would only be able to gather data and make decisions based on said data after a customer had made their purchase. Now, thanks to the introduction of Digital Landscapes, shopper behavior can be studied before they even make a purchase, granting suppliers new avenues and strategies to optimize customer consideration and engagement.
By better understanding customers and their shopping habits, the company is aided in providing its customers with “the right product, in the right place, at the right time.”
What can Digital Landscapes do?
According to the company, through the use of Digital Landscapes, suppliers will now be able to analyze exactly where customers begin their shopping journey, when customers find a product, how a product compares to similar alternatives, and what steps a customer takes to make the purchase.
The retailer claims, “these insights are particularly valuable for suppliers as they evaluate their marketing and sales strategies. By analyzing daily engagement trends and tracking sources that are driving traffic — from searches on Walmart.com and the Walmart mobile app to external search engines, social platforms and more — suppliers can better allocate their resources to help boost reach and improve the effectiveness of their campaigns.”
The launch of Digital Landscapes marks a huge step forward for Walmart Data Ventures who aims to become a global leader in data analytics and insights. The retailer is of the belief that this new venture will optimize customers’ shopping experience, thereby enabling Walmart to fulfil its promise of delivering a good shopping experience.
Is technology going too far?
From a company perspective, the launch of such ventures can only bring efficiency to day-to-day operations, not to mention the potential increase in overall sales if ads sent out to customers are more tailored to their preferences. However, where do we draw the line at data tracking? Sometimes its can feel like merely existing in a digital space is commercializing yourself somehow.
When Inc. reached out to a spokesperson for Walmart for more insight on the matter, Lea Ciskowski responded by sharing that, “Walmart Luminate uses data-driven insights to help suppliers fuel smarter, faster decisions and unlock growth so they can be less reactive and more predictive in anticipating their customers’ needs.”
The retailer has a weekly rate of close to 144 million shoppers making purchases online, as well as in store, meaning that the introduction of Digital Landscapes truly does have massive potential for Walmart to lead the analytic side of things.
2025 does appear to be the year of investing in advertising for the retailer. Its advertising business, Walmart Connect has grown by 26% since the last quarter and the retailer will be introducing in-store advertisements from external businesses in the coming days.