Retail News

Walmart expects generational benefits from TikTok stake

CNBC 09/21/2020

Walmart is expected to take a 7.5 percent stake in TikTok’s operations in the U.S. once the deal the retailer and Oracle have made with the video app company is approved by the government. Walmart CEO Doug McMillon will have a seat on the five-person board of the company that has more than 100 million active monthly users in the U.S. “For legacy brands, like a Walmart, being able to effectively introduce themselves is very important,” said Jason Dorsey, president of the Center for Generational Kinetics. “There’s rarely moments where they can engage in such an intensely valued platform and really have a front-row seat to the next generation of consumers. That’s what this could potentially give them.”

MORE ON THIS STORY...

MORE RETAIL NEWS HEADLINES...

Discussions
Check out RetailWire's Engaging Online Discussions Featuring Our Exclusive Braintrust!