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Walmart to Add Free Basic Package to Data Monetization Platform

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About a year after launching Walmart Luminate, a data monetization platform for merchants and suppliers, Walmart has announced that it will make additions to the subscription-based product suite and that it expects to launch a free basic package for suppliers in 2023.

One data set that the company has added to its roadmap for the next fiscal year for Charter subscribers is “digital product transactability,” which will offer insights into items that customers add to their cart and purchase via grocery pick-up and delivery, Walmart said Wednesday (Oct. 12) in a press release.

Charter subscribers will continue to see the ongoing addition of incremental data sets as well as receiving the full suite of insights around Channel Performance, Shopper Behavior and Customer Perception and having access to support for application programming interface (API) ingestion, according to the release.

The forthcoming Basic package, which will be free of cost to suppliers, will offer a subset of Channel Performance insights, including standard operational metrics, pre-set downloadable reports and a breakout of store and eCommerce sales, per the release.

The company also announced that over its 11 months, Walmart Luminate has grown its revenue 80% quarter over quarter, increased its customer count and served customers in a variety of categories and sizes.

“Shared access to Walmart Luminate with our suppliers has been a gamechanger,” John Laney, senior vice president and general merchandise manager of center of store food at Walmart, said in the release. “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.”

As PYMNTS reported in May, several of Walmart’s new higher-margin initiatives like Walmart Luminate have outpaced the performance of the full company.

Read more: Walmart Sees Demand Shift for Low-Priced Bacon and High-Ticket Game Consoles

For example, Walmart Luminate was seeing 75% quarter-on-quarter growth at the time, while the Walmart Connect advertising business increased 30%.

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A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking services, just 9.3% call them their primary bank.

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