Walmart parts company with Mediavest as media strategy is reviewed
Walmart has ended its 10-year relationship with Publicis Groupe's media planning and buying firm Mediavest, claiming it wants a new ways to use media to reach consumers.
Mediavest's said it was “proud of the talent dedicated to this business and the award-winning, results-driven innovation we delivered for Walmart over the years.”
In a statement it said: “We continue to partner with Walmart as they transition to their new model and wish them the best in their future direction.”
It remains unclear what the retailer's new approach will look like. A Walmart spokesperson said: "We have made the decision to end our relationship with MediaVest. We thank them for their strong partnership over the past nine years.
"We are taking a different direction and looking for new ways to use media to connect with our customers."
Walmart has moved swiftly into managing its digital media in-house, creating it's own exchange called Walmart Exchange.
A shift in agency is also likely to have been sparked by recent changes in Walmart's marketing division after Tony Rogers became chief marketing officer earlier this year, replacing Stephen Quinn.
It plays into Publicis chief Maurice Levy’s predictions there would be “mediapalooza part two” in 2016, following last year $20bn spate of media reviews was worth $20bn. It was a case of mixed fortunes for Publicis, losing General Mills, Procter & Gamble and Coca-Cola but winning advertisers such as Visa, Etihad and Taco Bell.