Walmart and Facebook in joint venture to offer local ads

Two of world’s biggest corporations have launched a joint web-venture that will allow users to search store-specific promotions across Walmart’s 3,500+ US retail locations through a customizable Facebook app.

Walmart’s 9.4m Facebook fans will be able to search the store nearest them and find deals on everything from LED TVs to Halloween candy. Promotions will be at store-level, so local events will dictate “rollback alerts” sent to app users, from football matches to inclement weather.

The app, called My Local Walmart, comes about a month ahead of the US’ busiest shopping day of the year, Black Friday.

The move also sees Walmart bolster its e-commerce strategy ahead of its annual analyst meeting, happening today, where investors will be eager to hear its approach to gain lost ground to its online competitors, like Amazon, after a series of sales declines.

Last month, Walmart snapped up OneRiot, the once real-time search engine turned ad network, to help the retailer make sense of the digital data streams from social networks. Six months ago it acquired a similar company, Kosmix.