Categories Earnings, Retail

Walmart gives Jet.com a new look to woo the urban youth

When Walmart (WMT) embarked on the transition to a full-fledged e-commerce retailer, apparently in response to the aggressive strategies of Amazon (AMZN), it consciously adopted a unique business model rather than copying the latter.

The acquisition of Jet.com came as a major milestone while Walmart continued to strengthen its digital prowess, which involved extensive planning and large-scale resource utilization. After integration, Jet.com witnessed several makeovers and value-addition, including futuristic offerings like digitized self-checkout; and the process is continuing.

In an effort to enhance the shopping experience of urban youth, who constitute the majority of its customers, Walmart this week subjected Jet.com to yet another rejigging. The online platform will now feature pictures of products customized in accordance with the shopping preferences and location of customers.

After joining the Walmart fold, Jet.com witnessed several makeovers and value-addition, including offerings like digitized self-checkout

An exclusive site for Nike (NKE) and Converse is also in the pipeline, which is expected to be rolled out in October. The updated Jet.com also allows residents of New York City to schedule their merchandise deliveries to a three-hour window. The color scheme of the site has been tweaked to give separate colors to each category.

The idea is to increase online traffic, leveraging Walmart’s reputation among city dwellers as a trusted retailer. The latest move complements the recent restructuring of the company’s primary website. Of late, Jet.com has been struggling to retain traffic and registered a sharp fall in customer visits last month. The redesign will be followed up with a promotional campaign aimed at stabilizing customer base and winning back those who have strayed.

Walmart looking to take down Amazon in the e-com space

It is expected that the fulfillment center to be launched by Jet.com in the Bronx later this year will speed up the delivery process, thereby catalyzing the initiatives to revitalize the company’s online grocery business, a trend that is catching up in the highly-competitive retail industry.

Also Read:  Twitter (TWTR) Earnings: Key numbers from 2Q20 financial results

Walmart shares jumped more than 10% last month after it reported impressive first-quarter results, marking the biggest intraday gain in recent times. The stock, which rose about 19% over the past twelve months, lost momentum this week and traded lower in the early hours of Thursday’s session.

Walmart stock jumps on upbeat Q2 results

Most Popular

Yelp Q2 earnings: All key figures

Yelp (NYSE: YELP) reported second-quarter financial results after the regular trading hours on Thursday. The results were better than what the street had anticipated. YELP shares rose 4% immediately following the

Infographic: Uber (UBER) Q2 loss narrows; revenue beats

Uber Technologies (NYSE: UBER) reported its second-quarter 2020 financial results after the regular trading hours on Thursday. Revenues exceeded the estimates, while the bottom-line missed. Shares of the ride-hailing company

TMobile (TMUS) Q2 revenue up 61%; results beat Street view

TMobile US Inc.  (NASDAQ: TMUS) on Thursday announced financial results for the second quarter of 2020, reporting a 61% increase in revenues aided by strong customer growth. The results also

Top