A year ago this month, we brought Walmart Luminate to market, and in doing so disrupted big data and analytics – an industry predicted to reach $655.53 billion by 20291. Few are better positioned than Walmart to do this.
Recognizing the tremendous opportunity to help accelerate the Walmart “Flywheel,” we commercialized and democratized our retail insights to deliver a single source of truth. We unlocked a unified picture of category health and consumer trends with unprecedented scale, bringing suppliers and merchants closer together to power data-driven business decisions. This, in turn, has allowed us to continue to deliver Every Day Low Prices to our customers.
And we’ve seen tremendous success. In just 11 months, we grew revenue over 80% quarter over quarter. Our total customer count has also grown and represents a diverse stable of categories and company sizes. But we’re far from done.
Today marks the next chapter in Walmart Luminate history, as we formally announce the forthcoming launch of a Basic package free of cost to suppliers, making it even easier for suppliers of any size to work with merchants to grow their businesses.
At a high-level, Basic subscribers will gain access to a subset of our Channel Performance insights, including the standard operational metrics needed to run their business. Charter subscribers will continue to receive the full suite of Channel Performance insights, in addition to meaningful Shopper Behavior and Customer Perception insights. Key features and benefits of each package include:
Access to a dedicated account team and engineering support for API ingestion will still only be available to Charter subscribers. Suppliers that select Charter will also benefit from the ongoing addition of incremental data sets never seen before. For example, digital product transactability (i.e., insights regarding items added to cart and purchased via grocery pick-up and delivery) has been added to the roadmap for the upcoming fiscal year.
This move also underscores the modernization of Walmart’s tech stack, as we upgrade the technology our customers and partners use to drive results. Walmart Global Tech created the platform in-house by leveraging existing Walmart Global Tech platforms and Walmart enterprise assets. Within just a few months, the team developed an enhanced experience that includes faster results for complex queries, the collation of real-time retail events, optimized insight visibility, as well as increased data security and governance.
Feedback from our merchandising associates has been overwhelmingly positive to date. John Laney, SVP, GMM of Center of Store Food at Walmart, said, “Shared access to Walmart Luminate with our suppliers has been a gamechanger. Improved visibility to Shopper Behavior, Channel Performance and Customer Perception empowers us to make better, more strategic data-driven decisions. We can optimize assortments, forecast inventory, and analyze customer sentiment which helps us deliver a more enjoyable, more personalized experience for customers.”
Finally, we are exploring new and innovative ways to embed Walmart Luminate insights into other areas of our business. For example, we are working to directly integrate Walmart Luminate insights into existing merchandising tools to better facilitate data collaboration with suppliers. We are also piloting ways for actionable Walmart Luminate insights to be deployed, automated, and scaled across Walmart Connect’s advertising ecosystem, and have seen positive results to date.
Walmart Luminate Basic is expected to become available in 2023.
We will be communicating with suppliers directly to share more information about how to receive exclusive access and updates to our Basic package. However, those interested in learning more about Walmart Luminate Charter can get in touch today.
1 - https://www.globenewswire.com/en/news-release/2022/07/21/2483358/0/en/With-13-4-CAGR-Big-Data-Analytics-Market-Size-Worth-USD-655-53-Billion-by-2029.html