Inside Walmart Connect: From Retail Media to Full-Funnel Performance with Khurrum Malik

Walmart Connect has quickly evolved from a search-driven retail media platform into a full-funnel advertising powerhouse. In this episode, Ari Paparo sits down with Khurrum Malik, VP of Business and Product Marketing at Walmart Connect, to unpack how Walmart is combining on-site search, off-site media, CTV via Vizio, and closed-loop measurement to spark real sales impact. Khurrum shares why he joined Walmart Connect, how “couch to cart” is becoming a reality, what performance TV means for emerging advertisers, and why incrementality is the new gold standard for retail media. The conversation also previews Walmart Connect’s CES announcements, including AI-driven ad tools, search incrementality GA, and new third-party benchmarks that position Walmart Connect against digital and social media. Takeaways Walmart Connect is a multi-billion-dollar retail media business growing 30%+ by focusing on sales impact, not just media delivery Search and PLAs remain the core, but Walmart Connect is expanding aggressively into brand, video, CTV, and off-site media Vizio enables true “couch to cart” activation by connecting CTV exposure directly to Walmart sales outcomes Incrementality and IROAS are becoming the measurement bar for retail media, not just attribution Walmart’s omni-channel footprint of 4,600+ stores and 150M weekly shoppers is a core competitive advantage CES announcements highlight AI-powered tools, search incrementality GA, and third-party benchmarks that outperform digital and social media norms Chapters 00:00 Welcome & Introduction 00:38 Why Khurrum Joined Walmart Connect 02:18 What Is Walmart Connect Today 03:57 Beyond PLAs and Search 05:03 Scale, Brand, and Performance 06:33 Measurement and Incrementality 06:47 Vizio and “Couch to Cart” 09:30 Performance TV for Emerging Advertisers 11:09 Third-Party Measurement & Trust 13:50 CES Preview 17:10 Lightning Round 19:31 Wrap-Up Learn more about your ad choices. Visit megaphone.fm/adchoices