Influencer marketing has become one of the most powerful ways for brands and retailers to promote products and collections on social media. After all, the influencer market is estimated to become a $16.4 billion industry by the end of this year.
And while some legacy brands and companies have been hesitant to dive into the ever-changing world of influencer marketing, some may realize that surviving in today’s tumultuous world of retail may be a necessary step.
Walmart could be the last to join the movement, according to new trademark filings dated July 27, according to documents seen by Reuters.
The company has filed trademarks for “Walmart Creator” and “Walmart Creator Collective,” whose intent resembles “the promotion of others’ goods and services through influencers,” according to the statement. Reuters, though Walmart declined to comment.
londonbusinessblog.com also contacted Walmart for comment.
Walmart is currently working with a number of influencers on grocery and clothing promotions, though the retailer does not have an official affiliate program.
The Creator Collective rollout would likely follow in the footsteps of Amazon, which is the successful Amazon Influencer Program where users can link to their own Amazon landing page and promote items that can be discontinued on which they will earn a commission if a follower makes a purchase.
However, the program has backfired in recent months after the company took select influencers on a private, all-paid vacation to Todos Santos, Mexico, just days after it reported a $3.8 billion quarterly loss in the first quarter of 2022.
A boycott has also begun on TikTok over its Influencer program called People Over Prime, where popular TikTokers make a pledge to stop promoting Amazon or any of its products until the company agrees to comply with the Amazon Workers’ demands. union.
While there are no clear plans yet for how Walmart will design its version of a maker program, it’s likely that promoting Walmart+ (the company’s premium subscription program) will be a big game, as Walmart has done. double on efforts to grow the program through a new partnership with Paramount+.
Recently, Walmart lowered prices for big-ticket items and clothing in stores in an effort to offset the cost of inflation and the subsequent change in shoppers’ mindsets.
walmart was down just shy of 8% year over year as of Friday afternoon.