Retailer is ramping up programs that serve other businesses through its in-house services and technologies

BENTONVILLE, Ark. – Walmart’s advertising business was a bright spot in the retailer’s strong second-quarter earnings report.

Walmart reported a 95% increase in its U.S. advertising sales in the 13 weeks to July 31. The number of active advertisers increased more than 175% in the period as more companies and brands used the Walmart Connect platform to reach the retailer’s 150 million weekly customers via its stores, digital properties and across the internet.

“We rebranded the business from Walmart Media Group to Walmart Connect last year, and that was just to make sure that it was very clear that this opportunity is going to help us connect buyers, sellers, suppliers and customers altogether in a way that’s accretive to the customer experience. And as long as we do that, I will remain very, very bullish on the growth potential in this business,” John Furner, president and chief executive officer for Walmart U.S., said August 17 during Walmart’s fiscal second-quarter earnings call.

In rebranding the unit, the company said it expects Walmart Connect to become one of the top-10 advertising platforms in the United States over five years.

“And this isn’t confined to the U.S. We’re growing ad businesses in Mexico, India, Canada and, most recently, in Chile,” Doug McMillon, Walmart’s president and CEO, said during the earnings call. “Our fulfillment services for marketplace sellers continues to scale, too. We’re on-track to hit full-year double-digit GMV (gross merchandise value) penetration by year’s end.”

Walmart will continue to make money in ways beyond selling merchandise, he said.

“We’ve proven our ability to serve customers in challenging environments and across multiple channels, formats and countries,” McMillon said. “The phrase, ‘serving customers’ has traditionally meant one thing at Walmart, but today it includes serving marketplace sellers, our advertising partners and those that want to use our fulfillment services or proprietary software.”