Roku is getting into e-commerce with Walmart.
Roku shares jumped on Thursday after the company unveiled a partnership with Walmart to make streaming TV the next frontier in online shopping by tying entertainment to one stop. e-commerce goods. In addition to the QR code, TV viewers will be able to use their remote device in a shoppable TV ad to select products and directly pay with Roku Pay, Roku’s payment platform.
Walmart will be the exclusive retailer allowing streamers to shorten the time from inspiration to purchase, as products are made by Walmart directly on Roku’s streaming platform. By tapping “OK” on the Walmart checkout page, the order will be processed instantly and the details emailed will include shipping, return, and support information.
“No one has cracked the code for video transmission. By partnering with Roku, we are the first retailer to market to giving customers a new shopping experience and seamless checkout on the biggest screen in their home – their TV,” said William White. , director of marketing at Walmart, said in a statement.
The first pilot program combining entertainment with transactional commerce is underway. Shares of Roku rose $3.35, or just over 4%, to $81.93 in after-hours trading on Thursday.
“For years, streamers have bought new Roku devices and hit millions of subscriptions with their Roku remotes. Online commerce offers the same ease and convenience for marketers and shoppers,” said Peter Hamilton, Roku’s head of television commerce, in his own statement.
OneView, Roku’s ad-buying platform for TV streaming, will have the exclusive ability to trigger and measure purchaseable TV ads. And marketers will use Roku Brand Studio to design branded and creative content built for TV and shopping.
