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Walmart is Planning to Capitalize on Social Media Influencer’s Fan Base to Boost Sales

Industry: Retail
Current: Product Indicators

Growing popularity of influencer marketing is enticing businesses to adopt the strategy
Walmart has launched a new platform “Walmart Creator” for getting social media influencers on board to increase its customer base
Walmart will provide a commission on sales to the content creators

Growing Popularity of Influencer Marketing for Brand Promotions & Sales

Growing inflation has resulted in shrinking profit margins for retail companies. Furthermore, increased competition has necessitated the development of innovative strategies by market players to maintain their market position.

Utilizing well know social media influencers and celebrities to expand the customer base is one of the strategies being adopted by market players. Influencer marketing is becoming increasingly popular, giving companies the chance to connect with an increased number of the target audience, maintain brand relevance, and explore growth opportunities.

Walmart’s Collaboration with Social Media Influencers is Expected to Boost Sales in the US

Walmart is strategizing to capitalize on the influencers’ reach to boost its sales. The company intends to broaden its reach and deepen its market penetration in the U.S. retail industry.

The company developed a new platform “Walmart Creators” for social media influencers and has filed a trademark for the same. Walmart plans to offer approximately ten thousand products on the platforms, ranging from food to apparel. Influencers will have access to a wide variety of products available on the platform, where they can recommend products to their followers and earn commission on product sales.

Furthermore, many of Walmart’s rivals are already utilizing influencer marketing to sell their products. Walmart's new social media influencer program will strengthen its market position and boost the company's earnings in the coming quarters.

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