The In-Store Retail Media Screens That Out-Earned Walmart.com copertina

The In-Store Retail Media Screens That Out-Earned Walmart.com

The In-Store Retail Media Screens That Out-Earned Walmart.com

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The rise, death, and return of in-store retail media as lived by Mike Hiatt.Around 2010, the in-store retail media screens inside Walmart's stores were bringing in more revenue than Walmart.com. By 2015 the network was gone. Mike Hiatt, Founder & President of Dynamic Retailing, built it. He came to Bentonville to take over Walmart TV, which at the time meant 27-inch screens bolted up in the rafters playing audio that fought with Walmart Radio and lost. He rebuilt it as the Smart Network: eye-level screens, category channels, and five media endcaps that sold out every time they went to market. At its peak it had the reach of a Super Bowl each week. It was a retail media network before the industry coined the phrase. Then it came apart. Marketing owned the network, merchants owned the space, and nobody had built a way to cut the merchants in. Walmart pulled it out around 2015. Ricardo Belmar and Casey Golden get Mike to walk through what really happened, why in-store retail media is working now when it stalled then, and what his book Timing the Desert says about being right too early. Ricardo spent that same era at Hughes delivering managed digital signage to retailers, so this one gets personal and specific fast.This is a story of what was, what could have been, and the lessons every retail media network leader today should learn from the original in-store media network.In This Episode, You'll Learn· Why a retail media network inside Walmart's stores out-earned Walmart.com and still got deinstalled· How the fight over trade funds, national ad dollars, and shopper marketing budgets stalled in-store retail media for a decade, and what Amazon did to end it· Why DSIQ, an ex-Microsoft team out of Seattle, built an ad server for store screens before the industry had the term, and why the company never scaled past Walmart· The difference between a salesperson and a business development person, and why sending the wrong one into a retailer kills the deal· Mike's five A's of in-store content: accessible, appropriate, adaptable, attractive, assembled· Why he argues for localization over personalization, and what it means to treat 2,000 stores as 2,000 super customers· Who he thinks reaches the in-store retail media cereal moment first· Why in-store retail media will never be as lucrative as online, and why every retail media network is heading there anywaySupport our sponsors.This Episode is Brought to You By RetailClub.From the founders of Shoptalk and Groceryshop, RetailClub AI Festival brings together 2,000 industry leaders from September 22 to 24 for three days fully outdoors in Huntington Beach focused entirely on how AI is transforming retail. Through the Breakthruprogram, you can shape your experience before you even arrive. Request 15-minute, double opt-in meetings with the people you want to meet, join small-group conversations on the biggest questions in AI and retail, choose from more than 100 experiences, and connect over curated networking dinners. Retail and brand leaders can attend free, plus receive up to $1,750 toward travel and hotel. The Breakthru registration deadline has been extended to September 2. Register now at retailclub.com/retail-razor-podcast.W. P. Carey School of Business, Arizona State University.ASU is a leading public research university and its W. P. Carey School of Business is the largest in the United States. AI-Enabled Supply Chain Strategy is a 3-day executive program running October 5-7, built by the #2-ranked Supply Chain Management department. The program is designed for senior leaders setting AI strategy across procurement, logistics, and operations.Register at https://specialevents.asu.edu/878064 with ID Code retailrazorasu for $1,500 off.Subscribe & Follow.How much did you love this episode? Drop us a 5‑star rating and review on Apple Podcasts, Spotify, or Goodpods. Subscribe on YouTube so you never miss an episode and check out the other shows in the Retail Razor Podcast Network: Retail Transformers, Blade to Greatness, and Data Blades.Subscribe to the Retail Razor Podcast Network: https://retailrazor.com/Subscribe to our Newsletter: https://retailrazor.substack.comSubscribe to our YouTube channel: https://go.retailrazor.com/utubeFeatured guest.Mike Hiatt. https://www.linkedin.com/in/mikehiatt/Founder & President of Dynamic Retailing. https://dynamic-retailing.comAuthor. Timing the Desert. https://a.co/d/07IJTQQS.Mike Hiatt is the president of Dynamic Retailing. A retail media consultancy focused on helping technology solutions providers work more effectively with retailers and assisting retailers better execute retail media strategies inside their stores. He is on the advisory boards at Venvee and Blue Zoo; he recently authored the business book Timing the Desert: A Front-Line perspective on Retail...
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