Walmart launches creator platform for influencers with no cap on commissions
Walmart (WMT) is out with a new platform for influencers, called Walmart Creator.
On Tuesday, the big box retailer announced a beta version of the site that allows influencers and social media creators to monetize shoppable Walmart product recommendations to their followers. The company plans to fully launch the platform in 2023.
In a press release, Walmart marketing executive William White said, "We know our customers are inspired by the content and stories they see from their favorite influencers in their social feeds every day ... This next step in our strategy will help fuel inspiration for our customers by connecting their favorite creators directly with our brand and the brands they love at Walmart.”
Creators who sign up for the platform will be able to share product links on any social platform or "group of their choice." They will be able to use analytics to track how their recommendations perform and earn revenue via commission. They can also apply to be part of upcoming brand campaigns. As of now, there is no minimum social media following requirement and no cap on how much money creators can earn, though Walmart didn't share what share of sales influencers will earn.
"We don't share commission percentages for our creator partners but are excited to enable them to further grow their business and community through this platform,” Walmart told Yahoo Finance.
Walmart's biggest competitor, Amazon (AMZN), launched its creator-driven sales platform — Amazon Influencers — five years ago.
With Amazon, creators make a fixed commission rate that ranges from 2% on TV sales up to 20% for Amazon video game recommendations that lead to a sale. Amazon also debuted its QVC-style shopping platform Amazon LIVE in India in late September of this year. On the show, which launched in 2019 in the U.S., influencers go live and can link to their Amazon pages. For example, Disney recently sponsored a Fall Toy Gift Guide on Amazon LIVE.
Some of first platforms that allowed creators to profit off of their recommendations include LIKEtoKNOW.it and rewardStyle, which both came under the LTK umbrella in 2011.
According to Statista, U.S. sales made from social media are currently estimated at $51.8 billion this year and are expected to reach $145.2 billion by 2028.
Brooke DiPalma is a reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.
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