Streaming platform Roku and retailer Walmart announced on Thursday (17) a partnership that aims to use smart device controls to make purchases through TV screens. Although the financial details of the agreement were not disclosed, it is known that it will add 61.3 million subscribers to the traditional American department store.
The unprecedented partnership (if we don’t count Amazon, which is both a streaming and retail platform), represents the beginning of a business niche for streaming platforms. It can potentially transform the way of shopping in TV ads and video. The new option allows consumers to buy at the moment they see and want the product. The two platforms want to offer a perfect checkout experience.
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The great advantage of the agreement between the streaming and retail networks is that the buyer will not need to be redirected to the Walmart website or capture a QR Code to complete purchases. What the new program does is add an overlay to an existing ad. As a result, the user can simply on “OK” if they want to buy.
Even the action of typing the credit card number, which would be quite complicated on the remote control, was resolved by both companies. Roku’s payment platform already has its customers’ payment details pre-filled. Worth noting that custom branded content for streaming will be designed by Roku Brand Studio.
The sharing solution with Walmart may have been a lifeline for Roku. The latter saw stocks has dropped more than 70% in a year, sparking recent Netflix harassment. After the deal closure, the shares had risen more than 4%. We are curious to see how the partnership will bring benefits to both companies. Of course, it’s also a good move for Walmart. After all, the giant does not go fully “Amazon” by entering all segments. Walmart has recently expanded its payment platform, trying to cater to more users in Mexico.