Footnotes & citations
1. Fortune, August 2023.
2. Walmart first-party data, Feb. 1, 2023 – July 31, 2024; ad-exposed customers during a 14-day window prior to conversion. Includes all Sponsored Search, Onsite Display, and Offsite media ads from 26 impact studies across Food & Beverage, Consumables, Entertainment, Toys & Seasonal, and Home & Hardlines categories. Ad spend measured across brands’ full product portfolio.
3. First-Party Data, Walmart Fast Facts 2025 Survey, Walmart Customer Spark Community, provided by Walmart Scintilla, May, 2025.
4. Upwave, Nov 2023 – May 2025; median value of 21 studies with >80% stats; Lift is measured based on the difference in proportion of favorable responses (out of the total responses), between test and control group, given question "Which of the following brands are you aware off?"
5. UpWave industry benchmark norms based on 500+ campaigns across selected categories (Food & Beverages, Personal Care, Consumer Technology & Services Platforms, Apparel, Pet Ownership, Telecom Providers).
6. Upwave, Nov 2023 – May 2025; median value of 16 studies with >80% stats; Lift is measured based on the difference in proportion of favorable responses (out of the total responses), between test and control group, given question "When shopping for [category], which of the following brands would you consider?"
7. UpWave industry benchmark norms based on 500+ campaigns across selected categories (Food & Beverages, Personal Care, Consumer Technology & Services Platforms, Apparel, Pet Ownership, Telecom Providers).