Walmart Luminate to become Scintilla
At its second-annual Inspire event, Walmart Data Ventures brought together suppliers and merchants for a conversation on how first-party insights can bolster business now.
To that end, the retailer announced that beginning next year its integrated insights ecosystem, Walmart Luminate, will become Scintilla.
The word "scintilla" comes from the Latin term meaning "spark" and signifies the power of a single insight to ignite a new idea--much like how even the smallest, most granular piece of data can drive business decisions that make a significant impact, Walmart said.
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While the meaning of scintilla nods to Walmart’s legacy, it also positions Walmart Data Ventures for the future, enabling more seamless expansion to new markets and banners across Walmart’s global enterprise. This expansion has already started. Walmart launched its product suite in Mexico earlier this summer, and it will be available in Canada later this month.
In the United States, Walmart Data Ventures has continued to gain momentum, and its insights ecosystem is proving to deliver value to both large and small-to-medium sized suppliers, the company said, noting that compared to last year, the client base has increased by 173%, and representation from small-to-medium sized businesses has grown more than 100% year-to-date. Most notably, every supplier up for renewal this year has signed on for another three years – some for even longer – demonstrating sustained confidence in these innovative product solutions, the retailer added.
Through a series of keynote sessions from Walmart and Data Ventures leadership and case study presentations from suppliers ranging in size and category, Inspire attendees discovered new ways to analyze granular data to gain greater insights into their business.
Leaders also announced Walmart Luminate Insights Activation for Walmart Connect is now available to all Walmart Luminate Charter suppliers. Designed to shorten the path from insights to activation and help suppliers grow their business at Walmart, Insights Activation lets users seamlessly apply Luminate insights to inform and optimize Walmart Display campaigns using a self-serve, automated solution.
Formed in 2021, Walmart Data Ventures unlocks the full value of Walmart's first-party data by bringing to life new business applications that deliver actionable, customer-centric insights to help merchants and brands make more informed business decisions.
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As customers continue to evolve and have endless options, it’s essential to move with speed and stay agile to better serve them how, when, and where they want. By enabling insights to action and maximizing every touchpoint across the customer journey from home to store and the product journey from source to shelf, Walmart Data Ventures aims to generate even more value for its customers, suppliers, merchants and store operators, the retailer said.