Read more: Inside Amazon: Everything we know about the e-commerce giant's growing advertising business The focus on first-party data makes Walgreens better prepared for looming changes by Google, Apple, and others to kill off third-party cookies, he said. The retailer also processes 1 billion transactions with the loyalty program, capturing 85% of purchases. Walgreens is entering a crowded field, but it hopes to differentiate its ad business with data from its more than 100 million loyalty card members that includes information on when people shop and what products they buy. Kigel said that Walgreens has run "hundreds" of campaigns but wouldn't name any specific advertisers. "We haven't had a distinct point-of-view in the marketplace with media agencies and the industry." "We've been working with brand partners, but we haven't talked about the capabilities," he said. Luke Kigel, VP of Walgreens integrated media and head of Walgreens Advertising Group, said Walgreens would also directly pitch brands and agencies for the first time. Walgreens has long run an advertising business with in-store and digital promotions but this move formalizes its advertising business. This story is available exclusively to InsiderĪnd start reading now. EMarketer estimates that retail media will be a $17 billion market this year. They're hoping to chip away at Amazon's dominance with so-called retail media budgets that brands spend to promote products. Retailers like CVS, Instacart, and Walmart have been expanding to advertising in search of a new revenue stream. The retailer is launching a new business called Walgreens Advertising Group to sell advertising on its online properties and other websites. Walgreens is the latest retailer to make a bigger bet on advertising. Visit Business Insider's homepage for more stories.
In addition to selling ads on its own properties, Walgreens' pitch is that it will also sell co-branded programmatic advertising and ads on Facebook and YouTube.The retailer's ad business is built off of data of its 100 million loyalty card members that tracks when people shop and what they buy.Walgreens is rolling out a new advertising arm to compete with Amazon and retailers like Walmart and CVS that have been beefing up their advertising businesses.As demand grows, we are maximizing our network of stores and fulfillment centers, to deliver items for online customers, when and how they want them," a Walmart spokesperson told Insider.Account icon An icon in the shape of a person's head and shoulders. "Customer expectations are changing, and we are moving quickly to meet and exceed their needs. Although Walmart noted it had seen 17% growth year-over-year growth in e-commerce in the fourth quarter. While e-commerce grew rapidly during the pandemic, that growth has tapered off, forcing companies to shift resources. The layoffs come as Walmart has increasingly touted warehouse automation, including its "next-generation fulfillment center." The layoffs also highlight consumers' shifting shopping habits. Workers at warehouses in Pedricktown, New Jersey Fort Worth, Texas Chino, California Davenport, Florida and Bethlehem, Pennsylvania, were given 90 days to find jobs at other company locations, a spokesperson told Reuters. Walmart is set to lay off hundreds of workers in its e-commerce fulfillment center, Reuters first reported. Account icon An icon in the shape of a person's head and shoulders.
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