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Roku is jumping into the e-commerce space with Walmart.
On Thursday, shares in Roku jumped after company unveiled a partnership with Walmart to make TV streaming the next frontier in online shopping by closely tieing entertainment to an e-commerce store. Going beyond the QR code, TV viewers will be able to use their remote device during a shoppable TV commercial to select a product and go directly to checkout using Roku Pay, Roku’s payments platform.
Walmart will be the exclusive retailer to allow streamers to shorten the time from inspiration to purchase, as products are fulfilled by Walmart directly on Roku’s streaming platform. By tapping “OK” on the Walmart checkout page, the order will be instantly done and emailed details will follow with shipping, return and support information.
“No one has cracked the code around video shoppability. By working with Roku, we’re the first to market retailer to bring customers a new shoppable experience and seamless checkout on the largest screen in their homes – their TV,” William White, chief marketing officer at Walmart, said in a statement.
This first pilot program that fuses entertainment with transactional commerce is underway. Shares in Roku were up $3.35, or just over 4 percent, to $81.93 in after-hours trading on Thursday.
“For years, streamers have purchased new Roku devices and signed up for millions of subscriptions with their Roku remote. Streaming commerce brings that same ease and convenience to marketers and shoppers,” Peter Hamilton, Roku’s head of TV commerce, said in his own statement.
OneView, Roku’s ad-buying platform for TV streaming, will have the exclusive ability to activate and measure shoppable TV ads. And marketers will use Roku Brand Studio to design creative and branded content built for TV streaming and shopping.
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