Roblox Stock (NYSE:RBLX)
Roblox stock was up 2.5% as of 12:10 PM ET on Monday. At the same time, Walmart (WMT) announced the release of two experiences, Walmart Land and Walmart’s Universe of Play, on the widespread gaming platform.
Roblox stock is down 65% year to date, so the move won’t make investors feel any better, but it does demonstrate that major brands are beginning to recognize the platform as a worthwhile marketing opportunity.
What’s the Reason?
Walmart is clearly trying to drum up excitement for the upcoming holiday season, given the timing of this move. With a skewed sales mix toward lower-margin categories, including food and consumables, the company reported same-store sales of 6.5% for the fiscal second quarter of 2023, which concluded on July 29.
One virtual world, Walmart Land, will have a virtual store where players can buy virtual goods with tokens they earn from playing games. Walmart has named its upcoming Universe of Play “the trendiest toy universe of the season,” It will have games and other attractions.
Walmart is aiming to generate excitement for toys and other products before the holiday shopping season. Roblox (NYSE:RBLX) also benefits because players may buy new avatar gear with the coins. According to a Goldman Sachs study, over 20% of Roblox players regularly alter their virtual persona’s look.
What’s Next?
Companies like Nike and others have poured money into Roblox’s (NYSE:RBLX) expansion of virtual reality offerings to attract a younger demographic. It’s just another avenue for these businesses to promote themselves. More and more of Walmart’s consumers are using Roblox (NYSE:RBLX), so the company sees it as a way to remain in touch.
Roblox stock will gain more money due to people using the site. Its number of daily active users, which rose to 59.9 million in August, up 24 percent from a year earlier, should continue to expand due to the variety of experiences large businesses offer.
About $12 was spent on supplementary materials by the typical user in the second quarter. Roblox’s bottom line can benefit from increased user engagement as more people spend more time playing games.
Featured Image- Megapixl @ Julioricco
Author Shariq Khan 
