Podcast Summary: Building a World Class Retail Media Platform with Walmart Connect’s Jeff Clark

Podcast Information:

• Title: The CPG Guys
• Hosts: Peter V.S. Bond & Shree Rajagopalan
• Episode: Building a World Class Retail Media Platform with Walmart Connect’s Jeff Clark
• Release Date: June 1, 2025

Introduction

In this episode of The CPG Guys, hosts Peter V.S. Bond and Shree Rajagopalan engage in an insightful conversation with Jeff Clark, Vice President of Product and Commercialization at Walmart Connect. Jeff shares his extensive experience and the transformative journey of Walmart Connect from an incubator project to a leading full-funnel retail media platform.

Evolution of Walmart Connect

Jeff Clark provides a comprehensive overview of Walmart Connect’s rapid growth and transformation. Initially an outsourced sales operation with minimal ad-serving capabilities, the platform has evolved into a robust media business generating billions in revenue.

“We’ve grown from two or three people to thousands of employees at Walmart Connect, doing billions of dollars in revenue. It’s been a bit of a rocket ship, and I think it’s going to continue to be.” [07:20]

Key milestones in this evolution include:

1. Enterprise Alignment: Integrating retail media into Walmart’s traditional omnichannel retail structure required seamless collaboration with merchants and store operations.
2. Programmatic Transition: Moving to programmatic advertising allowed Walmart Connect to leverage extensive shopper data, enabling targeted and measurable engagement.
3. Incorporation of Physical Stores: Utilizing Walmart’s vast network of over 4,600 stores to create unique in-store advertising experiences, bridging online and offline consumer interactions.

Key Differentiators of Walmart Connect

Jeff highlights several factors that set Walmart Connect apart from other retail media networks:

1. Data Leverage:

   • Walmart’s position as the number one grocer and omnichannel retailer in the U.S. provides unparalleled access to comprehensive shopper data.
   • “Nobody knows how America shops better than we do. Our shopper graph enables us to understand how people are shopping and translate that data to help our suppliers engage with shoppers in ways that nobody else can.” [11:52]

2. Physical Store Integration:

   • With 85% of transactions still occurring in stores, Walmart Connect leverages in-store advertising mediums such as TV walls, deli screens, and store-mode audio to deliver consistent and impactful messages.
   • “Being able to come up with meaningful advertising experiences in stores is a big differentiator for us as we continue to scale this business.” [13:58]

3. Self-Serve Capabilities:

   • Transitioning from managed services to robust self-serve platforms allows advertisers of all sizes to easily access and utilize Walmart Connect’s offerings.
   • “We’ve built self-serve interfaces to enable advertisers large and small. A big part of what we think about is democratizing access.” [15:56]

Measuring ROI with First-Party Data

A significant focus of the discussion is Walmart Connect’s approach to measuring advertising effectiveness using first-party data:

1. Omnichannel Impact Measurement:

   • Walmart Connect uniquely measures the omnichannel impact of campaigns, tracking whether ads influence purchases both online and in-store.
   • “Nobody is able to measure the omnichannel impact of a campaign the way we do.” [23:45]

2. Incrementality and Sales Lift:

   • The platform assesses whether advertising efforts lead to additional sales that wouldn’t have occurred otherwise, providing a clearer picture of return on ad spend (ROAS).
   • “Understanding if they’re incremental is kind of the holy grail.” [23:45]

3. Transparency and Standardization:

   • Jeff emphasizes the importance of transparent methodologies and configurable attribution windows tailored to different product categories to ensure accurate and relevant measurement.
   • “If our suppliers, sellers, advertisers don’t trust us, nothing else matters.” [23:45]

Ensuring Consistent Messaging Across Omnichannel Touchpoints

Jeff discusses strategies to maintain consistent advertising messages across various shopping experiences:

1. Merchant Alignment:

   • Collaborating closely with Walmart’s merchandising teams to align advertising strategies with seasonal campaigns and key business objectives.
   • “We understand what the merchant goals are, what the seasonal campaigns are, what the tentpole events are throughout the year.” [28:45]

2. Digital Out-of-Home Platform:

   • Developing an in-house ad-serving platform that integrates digital screens across stores, ensuring uniform messaging whether customers are shopping online or in physical locations.
   • “Our digital out of home platform is what’s going to allow us to deliver ads consistently across all screens.” [28:45]

Future Innovations in Retail Media

Looking ahead, Jeff outlines several innovative strategies Walmart Connect is exploring to enhance customer experiences:

1. Advanced Algorithms and Machine Learning:

   • Continuously improving algorithms to better understand and predict buying behavior, thereby refining ad targeting and personalization.
   • “The more our algorithms understand buying behavior, the better we can improve the experience for the customer.” [31:41]

2. Complementary Product Advertising:

   • Focusing on showing ads for complementary items based on customer purchase behavior to enhance the shopping journey.
   • “If you’re buying a barbecue, why not show ads for barbecue sauce or tools?” [31:41]

3. Enhanced Store Mode App:

   • Expanding the store mode feature within the Walmart app to provide real-time utility and information, further integrating the retail media experience.
   • “We’re taking the store mode app to the next level, focusing on enhancing the in-store ecosystem.” [31:41]

Jeff Clark’s Career Reflections

Jeff reflects on his career and the skills that have prepared him for his pivotal role at Walmart Connect:

1. Leadership and Direction Setting:

   • Drawing from his experiences at Google and CBS Interactive, Jeff emphasizes the importance of providing clear direction while allowing teams the autonomy to execute.
   • “If you give your team clear direction and the right direction, give them time to execute.” [34:12]

2. Navigating a Matrixed Organization:

   • Managing relationships and aligning goals across Walmart’s vast and complex organizational structure.
   • “Building relationships with teams that may have different goals than you do is essential.” [34:12]

3. Platform Mindset:

   • Focusing on building scalable platforms rather than isolated features to support long-term growth and adaptability.
   • “We’re in it for the long game, and platforms are what take us from zero to billions and beyond.” [34:12]

Conclusion

Jeff Clark’s insights provide a deep dive into how Walmart Connect has successfully built a world-class retail media platform by leveraging extensive data, integrating in-store and online experiences, and continuously innovating through advanced technologies. His leadership and strategic vision underscore the importance of alignment, transparency, and scalability in the rapidly evolving retail media landscape.

“We are writing the playbook on how to do omnichannel retail media. It’s a long game, and platforms are what will take us to the next level.” [36:51]

Notable Quotes:

• “Nobody knows how America shops better than we do.” – Jeff Clark [11:52]
• “We’ve built self-serve interfaces to enable advertisers large and small.” – Jeff Clark [15:56]
• “Understanding if they’re incremental is kind of the holy grail.” – Jeff Clark [23:45]
• “If our suppliers, sellers, advertisers don’t trust us, nothing else matters.” – Jeff Clark [23:45]
• “We are writing the playbook on how to do omnichannel retail media.” – Jeff Clark [36:51]

Final Thoughts

This episode offers valuable perspectives for brands and retailers looking to navigate and excel in the dynamic world of retail media. Jeff Clark’s expertise and Walmart Connect’s strategic initiatives highlight the future of consumer engagement across all touchpoints.

For more detailed insights and to follow up on the discussed topics, listeners are encouraged to visit Walmart Connect’s LinkedIn page and Jeff Clark’s professional profile, as mentioned by the hosts.