Walmart Turns Muppets and Scrooge Into One Holiday Campaign

Walmart is betting on a single Muppet-themed campaign to carry its entire holiday season, with Walton Goggins playing Ebenezer Scrooge opposite Kermit the Frog and Miss Piggy in "A Who Knew Carol." The effort, built on the retailer's "Who Knew?" platform, replaces the separate campaigns Walmart previously ran around legs of the season such as the Black Friday ramp-up.

"The holidays are an incredibly cluttered period of time from an advertising standpoint, and so the ability to break through is really important," Walmart CMO William White said in an interview. "Having one [theme], one campaign throughout the season allows a really quick read for customers to know it's Walmart."

"Who Knew?" launched last year to dispel misperceptions about the brand and position Walmart as more style- and trend-forward as it wins over higher-income shoppers. Goggins, who played the Grinch in Walmart's holiday ads last year, now swaps the green suit for Victorian-era costume from "The Muppet Christmas Carol." Stephanie Beatriz, another "Who Knew?" fixture, plays Scrooge's niece and will lead Spanish-language spots.

Why Scrooge fits the brand story

The three ghosts haunting Scrooge map to seasonal beats: one showcases gift ideas, one underscores savings during Black Friday and Cyber Monday, and one promotes last-minute gifting, including Walmart Express Delivery in 30 minutes or less. Scrooge's arc from humbug to appreciation mirrors the campaign's purpose, per White.

"We love 'A Christmas Carol' as a story because it's a reappraisal story, and the 'Who Knew?' campaign is a reappraisal story for us as well," White said.

Publicis Groupe agencies Fallon, Leo New York, The Community, Digitas and Zenith created the campaign. White cited the Muppets' broad appeal and fresh relevance, following a TV special with Sabrina Carpenter and a cameo at the World Cup final halftime show. A social teaser last week showed Goggins meeting Kermit on a studio lot. A long-form video debuting Monday recreates "Scrooge," the opening song from the 1992 film.

Sets echo the original movie's look, while the script winks at the retailer — Rizzo the Rat complains that Walmart didn't exist in the period. Muppets absent from the film, notably Pepe the King Prawn, appear to capitalize on meme culture, per Fallon CEO Nikki Baker. Additional videos and social content will run throughout Q4.

How far the media plan stretches

The plan spans broadcast TV, streaming, online video, social, out-of-home, audio, podcasts, digital and creator networks. On-air personalities will reference the campaign during Walmart's NFL integrations. Walmart is also leaning harder into creators as it markets itself as a fashion destination, and will deploy Miss Piggy in holiday style marketing, though details remain under wraps.

"[Creators] are helping to drive reappraisal, they're helping to drive awareness and they're driving conversion all within one one moment, and so it's an important part of our media mix," White said.

What the holiday backdrop looks like

Retail enters Q4 with sour consumer sentiment on the economy, though Deloitte surveys project holiday spending on retail goods to climb 10% year over year. Walmart posted fiscal Q2 total revenue of $187.9 billion, up 5.9%, with e-commerce up 24% — now nearly one-quarter of U.S. sales, double its share from five years ago.

Target ramps up its own holiday marketing in early November, centered on a fictional gift-giving academy. "A Christmas Carol" itself could get extra attention this season: "Ebenezer," starring Johnny Depp and marketed as his comeback, hits theaters Nov. 13.

"I think it'll be a great momentum to the campaign and people will be engaged in the IP. That's a nice add-on," White said.