WALMART has just landed an exclusive deal with a major electronics company, forcing rivals like Target and Best Buy to stop selling its products.
As a result, Walmart is looking to make some changes to the electronics brand, as well as introducing technological innovations.
In December 2024, Walmart bought Vizio for $2.38 billion, meaning only it could stock its products from now on[/caption]
In December 2024, Walmart bought Vizio for $2.38 billion, meaning only it could stock its products from now on.
This has left its rivals Target and Best Buy wanting.
Vizio sells a range of TVs and other related equipment.
Walmart Chief U.S. Growth Officer Seth Dallaire said: “Vizio offers great products at great prices that customers love.
“They’ve always put customers at the center of their business – and that’s core to Walmart’s values and the omnichannel experiences we’re excited to roll out.
“Vizio has also expertly changed their business over time, like building and quickly scaling a profitable advertising business.
“Pairing it with Walmart Connect will be impactful and allow us to invest in our business even further on behalf of our customers.”
While this deal brought no immediate changes, it is said that innovation is coming to Vizio thanks to Walmart.
Walmart plans to move Vizio into private-label branding, which could see the television brand relaunch under a new name.
There’s also a chance that Vizio’s Smartcast could be integrated onto existing Walmart displays with its Onn brand.
LOOKING AHEAD
This would also bring about new features for customers that are designed to make shopping more convenient.
The deal could usher in a new option that allows customers to purchase products directly through their television screens.
John R. Furner, president and CEO of Walmart, praised the future of the Vizio deal and what it could mean for shoppers.
He said: “We’re in the initial stages of integrating Vizio.
How to sign up to Walmart+
*If you click a link in this boxout, we may earn affiliate revenue
Here’s how to sign up to Walmart+:
- Head to the Walmart website.
- Select ‘Account’ and then ‘Walmart+’.
- Click ‘Start free 30-day trial’.
- Enter your information.
- Enjoy the trial and benefits.
Remember to cancel before the 30 days are up, or pay $12.95 per month (which you can cancel at any time) or $98 for the annual plan if you want to keep it.
Read More
“Our advertising business across markets increased 50%, including Vizio.
“Walmart Connect in the U.S., which doesn’t include Vizio, grew 31%.
“Sam’s Club U.S. ad business was up 21%, and we saw 20% growth in our International markets, led by Flipkart.”
“I’m excited about the plans we have for Vizio the rest of the year.
“We had a good quarter with Walmart Connect, as you mentioned, up 31% year-on-year and also a strong quarter around the world and the other advertising businesses that we operate.
“It’s a great operating system, very frictionless, easy to sign up, and we’re looking forward to the contributions of the Vizio team going forward.”
Walmart plans to move Vizio into private-label branding, which could see the television brand relaunch under a new name[/caption]
