沃爾瑪斥資23億美元收購Vizio，原因是嫉妒亞馬遜,？
JASON DEL REY
2024-02-23
圖片來源：ETHAN MILLER—GETTY IMAGES
沃爾瑪（Walmart）計劃以23億美元收購電視制造商Vizio,，但這筆交易與電視銷售業(yè)務(wù)幾乎沒有關(guān)聯(lián)。這樣說或許有些怪異,，畢竟沃爾瑪收購的是Vizio,，該公司長期以來一直是沃爾瑪最暢銷電視產(chǎn)品的制造商。
但沃爾瑪對這家電子產(chǎn)品公司真正感興趣的是其操作系統(tǒng)和廣告業(yè)務(wù),，以及它將如何讓沃爾瑪為品牌提供更多面向消費者的廣告投放方式,，以及更多有關(guān)消費者關(guān)注點的數(shù)據(jù)。如果你擁有一臺Vizio電視機(jī),，你的關(guān)注點和觀看習(xí)慣就是沃爾瑪及其最大的廣告商想要獲取的數(shù)據(jù),。
沃爾瑪在周二宣布這筆交易的新聞稿中表示：“此次合并有望進(jìn)一步加速沃爾瑪在美國的媒體業(yè)務(wù)的發(fā)展步伐，即沃爾瑪廣告業(yè)務(wù)Walmart Connect,，并將Vizio的廣告解決方案業(yè)務(wù)與沃爾瑪?shù)母采w范圍和能力結(jié)合起來,。”
如今,，沃爾瑪在其網(wǎng)站和應(yīng)用程序上銷售廣告,，有些類似于傳統(tǒng)的在線廣告，有些則出現(xiàn)在帶有"贊助商"標(biāo)簽的產(chǎn)品搜索結(jié)果中，該公司還在其商店的電視屏幕和自助結(jié)賬機(jī)上銷售廣告,。
為什么沃爾瑪關(guān)注如何建立龐大的廣告業(yè)務(wù),？因為它有可能比沃爾瑪?shù)暮诵牧闶蹣I(yè)務(wù)利潤更高。沃爾瑪需要額外的現(xiàn)金來繼續(xù)投資配送和自動化等零售能力,，以與亞馬遜等競爭對手競爭,，甚至擊敗它們。誠然,，在零售行業(yè),，除亞馬遜之外的其他公司采取的許多重大舉措在某種程度上仍然受到亞馬遜的影響。
在截至今年1月的2024財年,，沃爾瑪?shù)膹V告收入增長了28%,，達(dá)到34億美元。與此同時,，亞馬遜的廣告業(yè)務(wù)在2023財年同比增長了24%,，收入接近470億美元，是上年的13倍,。沃爾瑪還希望在流媒體電視廣告領(lǐng)域扮演更重要的角色,，而亞馬遜一直在這一領(lǐng)域采取大膽舉措。
一位高管表示,，沃爾瑪廣告業(yè)務(wù)以及山姆會員店（Sam's Club）和"沃爾瑪+"（Walmart+）會員配送業(yè)務(wù)的利潤應(yīng)占到本財年公司整體營收的20%左右,。
沃爾瑪首席財務(wù)官約翰·大衛(wèi)·雷尼（John David Rainey）周二在與分析師的財報電話會議上表示：“這些利潤流使我們能夠為核心業(yè)務(wù)投資提供資金?！?/p>
但亞馬遜也有其他盈利業(yè)務(wù),，能夠為投資其他領(lǐng)域提供額外現(xiàn)金。其中最大的業(yè)務(wù)是亞馬遜云計算服務(wù)（Amazon Web Services,，以下簡稱AWS）,，該業(yè)務(wù)在2023年創(chuàng)造了900億美元的收入。亞馬遜2023年的整體營收接近370億美元,，其中AWS占三分之二,。
當(dāng)然，沃爾瑪沒有自己的云計算服務(wù)來對抗AWS,。但10年前就任沃爾瑪首席執(zhí)行官的董明倫一直在密切關(guān)注亞馬遜在其核心電子商務(wù)業(yè)務(wù)之外建立的大規(guī)模新盈利業(yè)務(wù)線,。因此，他敦促領(lǐng)導(dǎo)層為沃爾瑪開發(fā)新的收入來源,。一位內(nèi)部人士在我最近出版的一本關(guān)于亞馬遜與沃爾瑪競爭的書《勝者為王》（Winner Sells All）中告訴我,，在公司內(nèi)部，董明倫把這些新想法稱為“在我們睡覺時賺錢”的手段,。
名為Walmart Connect的廣告業(yè)務(wù)就是其中之一,。沃爾瑪還創(chuàng)建了一項名為Walmart Luminate的數(shù)據(jù)業(yè)務(wù),，負(fù)責(zé)收集沃爾瑪顧客購物習(xí)慣的信息，并向供應(yīng)商出售訪問權(quán),。沃爾瑪還為第三方零售商推出了當(dāng)日送達(dá)服務(wù)Walmart GoLocal,。三年前推出的沃爾瑪會員計劃“沃爾瑪+”是這家傳統(tǒng)零售商的又一次嘗試，旨在籌集更多現(xiàn)金,，保持低價,，并增加新服務(wù)，讓沃爾瑪顧客購物更便捷,。
此外還有沃爾瑪健康（Walmart Health）,，這是該零售商一直在打造的連鎖醫(yī)療診所，以此作為醫(yī)療保健的超級中心,。沃爾瑪健康部門的前負(fù)責(zé)人馬庫斯·奧斯本（Marcus Osborne）在《勝者為王》一書中告訴我,，董明倫之所以對建立大型健康部門感興趣，至少部分原因是它可以提供現(xiàn)金流,，幫助沃爾瑪?shù)钟鶃嗰R遜對其關(guān)鍵雜貨業(yè)務(wù)的蠶食,。
董明倫在書中表示："我不是天生的冒險家。我不參與賭博,，也不會掛好蹦極安全繩從橋上跳下去,?！?/p>
他補(bǔ)充道："但這家公司要想在下一代中屹立不倒,，就必須承擔(dān)風(fēng)險?！?/p>
沃爾瑪收購Vizio只是最近一次嘗試,。（財富中文網(wǎng)）
譯者：中慧言-王芳
沃爾瑪（Walmart）計劃以23億美元收購電視制造商Vizio，但這筆交易與電視銷售業(yè)務(wù)幾乎沒有關(guān)聯(lián),。這樣說或許有些怪異,，畢竟沃爾瑪收購的是Vizio，該公司長期以來一直是沃爾瑪最暢銷電視產(chǎn)品的制造商,。
但沃爾瑪對這家電子產(chǎn)品公司真正感興趣的是其操作系統(tǒng)和廣告業(yè)務(wù),，以及它將如何讓沃爾瑪為品牌提供更多面向消費者的廣告投放方式，以及更多有關(guān)消費者關(guān)注點的數(shù)據(jù),。如果你擁有一臺Vizio電視機(jī),，你的關(guān)注點和觀看習(xí)慣就是沃爾瑪及其最大的廣告商想要獲取的數(shù)據(jù)。
沃爾瑪在周二宣布這筆交易的新聞稿中表示：“此次合并有望進(jìn)一步加速沃爾瑪在美國的媒體業(yè)務(wù)的發(fā)展步伐,，即沃爾瑪廣告業(yè)務(wù)Walmart Connect,，并將Vizio的廣告解決方案業(yè)務(wù)與沃爾瑪?shù)母采w范圍和能力結(jié)合起來?！?/p>
如今,，沃爾瑪在其網(wǎng)站和應(yīng)用程序上銷售廣告,，有些類似于傳統(tǒng)的在線廣告，有些則出現(xiàn)在帶有"贊助商"標(biāo)簽的產(chǎn)品搜索結(jié)果中,，該公司還在其商店的電視屏幕和自助結(jié)賬機(jī)上銷售廣告,。
為什么沃爾瑪關(guān)注如何建立龐大的廣告業(yè)務(wù)？因為它有可能比沃爾瑪?shù)暮诵牧闶蹣I(yè)務(wù)利潤更高,。沃爾瑪需要額外的現(xiàn)金來繼續(xù)投資配送和自動化等零售能力,，以與亞馬遜等競爭對手競爭，甚至擊敗它們,。誠然,，在零售行業(yè)，除亞馬遜之外的其他公司采取的許多重大舉措在某種程度上仍然受到亞馬遜的影響,。
在截至今年1月的2024財年,，沃爾瑪?shù)膹V告收入增長了28%，達(dá)到34億美元,。與此同時,，亞馬遜的廣告業(yè)務(wù)在2023財年同比增長了24%，收入接近470億美元,，是上年的13倍,。沃爾瑪還希望在流媒體電視廣告領(lǐng)域扮演更重要的角色，而亞馬遜一直在這一領(lǐng)域采取大膽舉措,。
一位高管表示,，沃爾瑪廣告業(yè)務(wù)以及山姆會員店（Sam's Club）和"沃爾瑪+"（Walmart+）會員配送業(yè)務(wù)的利潤應(yīng)占到本財年公司整體營收的20%左右。
沃爾瑪首席財務(wù)官約翰·大衛(wèi)·雷尼（John David Rainey）周二在與分析師的財報電話會議上表示：“這些利潤流使我們能夠為核心業(yè)務(wù)投資提供資金,?！?/p>
但亞馬遜也有其他盈利業(yè)務(wù)，能夠為投資其他領(lǐng)域提供額外現(xiàn)金,。其中最大的業(yè)務(wù)是亞馬遜云計算服務(wù)（Amazon Web Services,，以下簡稱AWS），該業(yè)務(wù)在2023年創(chuàng)造了900億美元的收入,。亞馬遜2023年的整體營收接近370億美元,，其中AWS占三分之二。
當(dāng)然,，沃爾瑪沒有自己的云計算服務(wù)來對抗AWS,。但10年前就任沃爾瑪首席執(zhí)行官的董明倫一直在密切關(guān)注亞馬遜在其核心電子商務(wù)業(yè)務(wù)之外建立的大規(guī)模新盈利業(yè)務(wù)線。因此,，他敦促領(lǐng)導(dǎo)層為沃爾瑪開發(fā)新的收入來源,。一位內(nèi)部人士在我最近出版的一本關(guān)于亞馬遜與沃爾瑪競爭的書《勝者為王》（Winner Sells All）中告訴我，在公司內(nèi)部,，董明倫把這些新想法稱為“在我們睡覺時賺錢”的手段,。
名為Walmart Connect的廣告業(yè)務(wù)就是其中之一,。沃爾瑪還創(chuàng)建了一項名為Walmart Luminate的數(shù)據(jù)業(yè)務(wù)，負(fù)責(zé)收集沃爾瑪顧客購物習(xí)慣的信息,，并向供應(yīng)商出售訪問權(quán),。沃爾瑪還為第三方零售商推出了當(dāng)日送達(dá)服務(wù)Walmart GoLocal。三年前推出的沃爾瑪會員計劃“沃爾瑪+”是這家傳統(tǒng)零售商的又一次嘗試,，旨在籌集更多現(xiàn)金,，保持低價，并增加新服務(wù),，讓沃爾瑪顧客購物更便捷,。
此外還有沃爾瑪健康（Walmart Health），這是該零售商一直在打造的連鎖醫(yī)療診所,，以此作為醫(yī)療保健的超級中心,。沃爾瑪健康部門的前負(fù)責(zé)人馬庫斯·奧斯本（Marcus Osborne）在《勝者為王》一書中告訴我，董明倫之所以對建立大型健康部門感興趣,，至少部分原因是它可以提供現(xiàn)金流,，幫助沃爾瑪?shù)钟鶃嗰R遜對其關(guān)鍵雜貨業(yè)務(wù)的蠶食。
董明倫在書中表示："我不是天生的冒險家,。我不參與賭博,，也不會掛好蹦極安全繩從橋上跳下去?！?/p>
他補(bǔ)充道："但這家公司要想在下一代中屹立不倒,，就必須承擔(dān)風(fēng)險?！?/p>
沃爾瑪收購Vizio只是最近一次嘗試,。（財富中文網(wǎng)）
譯者：中慧言-王芳
Walmart plans to acquire TV maker Vizio for $2.3 billion, in a deal that has little to do with the business of selling TVs. That’s perhaps a weird thing to say about the purchase of a TV maker that has long been a top TV seller at Walmart.
But Walmart’s real interest in the electronics company is its operating system and advertising business, and how it will let Walmart give brands more ways to advertise to consumers, and more data about their interests. If you own a Vizio TV, your eyeballs and viewing habits are what Walmart and their biggest advertisers want.
“The combination would be expected to further accelerate Walmart’s media business in the U.S., Walmart Connect, bringing together Vizio’s advertising solutions business with Walmart’s reach and capabilities,” is how Walmart described it in a press release announcing the deal on Tuesday.
Today, Walmart sells ads on its website and app—some that resemble traditional online ads and others in product search results that carry a “sponsored” label—as well as on the screens of TVs in its stores, and on self-checkout kiosks.
Why does Walmart care about building a big ad business? Because it has the potential to be much more profitable than Walmart’s core retail business. And Walmart needs that extra cash to continue to invest in retail capabilities like delivery and automation to compete with, or beat, rivals like Amazon. Yes, in the retail industry, a lot of big moves outside of Amazon are in some way still influenced by Amazon.
Walmart’s ad revenue grew 28% in its 2024 fiscal year, which runs through January, to $3.4 billion. Meanwhile, Amazon’s advertising business grew 24% year over year in the 2023 calendar year, but it’s 13 times as big with nearly $47 billion in revenue. Walmart also wants to become a bigger player in streaming TV advertising specifically, where Amazon has been making bold moves.
Profits from Walmart’s ad business as well as its Sam’s Club and Walmart+ delivery memberships should account for about 20% of the company’s overall operating income during the current fiscal year, an executive said.
“These profit streams allow us to fund investments in our core business,” Walmart CFO John David Rainey said on an earnings call with analysts on Tuesday.
But Amazon also has other profitable businesses that provide extra cash to invest elsewhere. The biggest is Amazon Web Services, which generated $90 billion in revenue in 2023. AWS accounted for two-thirds of Amazon’s overall operating income of nearly $37 billion in 2023.
Walmart, of course, doesn’t have its own cloud computing service to counter AWS. But Walmart CEO Doug McMillon, who became chief executive 10 years ago, has been paying close attention to Amazon’s buildout of these new massive profitable business lines outside of its core e-commerce operation. And as a result, he’s urged his leaders to develop new revenue streams for Walmart. Internally, McMillon has talked about these new ideas as ways of “making money while we sleep,” a company insider told me for my recent book, Winner Sells All, about the Amazon-Walmart rivalry.
The ad business, called Walmart Connect, is one. Walmart has also created a data business called Walmart Luminate that scoops up information about Walmart customer shopping habits and sells access to the retailer’s suppliers. Walmart has also introduced same-day delivery service for third-party retailers, Walmart GoLocal. The Walmart membership program Walmart+, which launched three years ago, is another attempt by the legacy retailer to generate more cash to invest in keeping prices low, and adding new services to make shopping more convenient for Walmart customers.
Then there’s Walmart Health, a chain of medical clinics that the retailer has been building to serve as sort of supercenters for medical care. A former Walmart Health leader, Marcus Osborne, told me in my book, Winner Sells All, that McMillon was interested in building a large health division at least partly because of the cash flow it could provide to help Walmart defend against Amazon’s encroachment on the crucial grocery segment of its business.
“I’m not naturally a risk taker,” McMillon said in the book. “I don’t gamble. I don’t jump off bridges with a bungee cord.”
“But this company,” he added, “to be here in the next generation, has to take risks.”
Walmart’s acquisition of Vizio is just the latest one.
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