The basic package of Walmart Luminate is coming in 2023.
Walmart announced that it is planning to launch a free version of Luminate, the data platform created by the retailer to provide insights on shopper behavior for brands and retailers.
The retailer is planning to make the Basic package of the platform available for any of its supplier in 2023.
“At a high-level, Basic subscribers will gain access to a subset of our Channel Performance insights, including the standard operational metrics needed to run their business,” Mark Hardy, Head of Walmart Data Ventures, wrote in a blog post.
Walmart Luminate Basic subscribers will receive access to:
Under the new subscription tiers, a Charter plan will still include access to the full product set of Walmart Luminate, which includes insights on shopper behavior and customer perception.
Walmart Luminate was launched in 2021 to make its retail insights available to suppliers, and provide shared access with merchants. These include customer trends, performance metrics for specific channels and primary research with customers. Over 11 months, Hardy said the product has grown revenue 80% quarter-over-quarter.
Walmart said it has been upgrading the technology to include faster results and increased data security. It is also planning to continue to add data sets. One of the features on the roadmap for the coming year is digital product transactability, which provides insights on items added to a cart and purchased through grocery pickup and delivery.
It is also working to integrate Walmart Luminate insights into other parts of the business, such as merchandising tools and advertising arm Walmart Connect.
Walmart Luminate is part of a growing segment of Walmart’s business that specializes in making its retail technology and services available to other brands and retailers. Data and retail media are also important parts of Walmart’s “flywheel” that ties together the different parts of its business, and enables digitally-led growth. Walmart US President John Furner said on a May earnings call that the flywheel enables the company to better serve shoppers, increase income and in turn keep prices low.
“When you look at the flywheel and step back, we have the business that's in stores, we have our ecommerce business including a marketplace,” Furner said. “We're making progress in health care and financial services with the acquisitions that we managed to complete and have under the One banner. And then [membership program Walmart] Plus along with Walmart Connect and data ventures are all important pieces of the flywheel.”