Wal-Mart's search for an agency to take over its $578 million account is more like several searches in one, writes AdAge, first because the retailer isn't insisting that its general market account remain within one holding company, and second because it is conducting three separate reviews for its African American/urban, Asian and Hispanic accounts (via MediaBuyerPlanner). The search was announced in May. The retailer's search consultant, Catherine Bension of Select Resources International, says this potential unbundling of agencies gives the company an opportunity to create a "dream team" of shops.
Wal-Mart's two current general market agencies, Omnicom Group's GSD&M and independent Bernstein-Rein, are both competing to keep the business.
More than a dozen agencies are being considered initially for a general market RFP that went out last week; a group of finalists will be named and then narrowed following agency visits. The multicultural reviews are expected to begin within a month, and each of the four reviews will conclude this fall.