Good morning, Marketers, what does Walmart’s earnings indicate about the future of omnichannel? 

In the first quarter of its fiscal year 2021, Walmart U.S. reported total revenue of $134.6 billion, up 8.6% year-over-year. But that wasn’t the only news; the retail giant also announced it would be shutting down – the marketplace it acquired for $3.3 billion in 2016 – as Walmart moves to embrace an omnichannel strategy and looks to make e-commerce more profitable.

“Due to continued strength of the brand, the company will discontinue,” Walmart noted in its earnings report this week. “The acquisition of nearly four years ago was critical for accelerating our omni strategy.” 

With the training wheels of out of the way, Walmart is positioned to integrate an online-to-offline strategy, with stores as a key component of it all. As the Wall Street Journal reported in December, Walmart CEO Doug McMillon said the retail giant would look to its supercenters as e-commerce hubs rather than focus on building separate e-commerce warehouses and standalone ventures. 

Keep scrolling for more news, including a fresh look at which marketing executives are on the move. 

Taylor Peterson,
Deputy Editor

On the Move

TikTok lands its first CEO, Freestar gets a new VP, MediaMath names new execs

Disney’s head of streaming Kevin Mayer is leaving the entertainment giant to head up TikTok as CEO, beginning June 1. Mayer was formally named the chief executive officer of TikTok and chief operating officer of ByteDance, the platform’s Chinese parent company earlier this week. As the first CEO of TikTok, Mayer will report directly to ByteDance Founder and Chief Executive Officer (CEO) Yiming Zhang and will be responsible for the company’s global development, including emerging business, gaming, and music. 

Publisher monetization service Freestar announced yesterday the appointment of Anthony Losanno as VP of Advertising Sales – among several other key hires. Losanno will be responsible for generating more robust strategic relationships with advertisers and agencies. He joins Freestar with a background in digital media sales and marketing with experience leading teams at companies such as Brut, Future and Purch. Freestar claims it reaches 55.9% of U.S. internet users with 147M unique visitors, and partners with brands like Paypal, FOX, and the New York Times.

Adtech company MediaMath has hired two new executives to support the company’s strategic vision of driving an accountable and addressable media supply chain. Kimberly Samon, former executive from WW International, joins MediaMath as its chief people officer and Anudit Vikram, former Edge by Ascential product leader, joins as the new senior vice president of product. Samon will be charged with leading all people-related solutions, including talent acquisition, diversity and inclusion, workforce planning, performance management, and overall employee experience at MediaMath. Vikram will oversee product management and set the roadmap for MediaMath’s offerings, which include identity, audiences, data products, campaigns, performance, and measurement.


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