The retail industry is in a state of flux. Legacy companies are still trying to navigate the move to ecommerce, and the new upstarts are learning why a physical presence is useful. Out of that turmoil, the retail landscape has come to be dominated by two firms: Walmart and Amazon.
Walmart has done a fantastic job of rebooting their ecommerce strategy in recent years. Marc Lore, who has run the ecommerce business unit since Walmart bought his company Jet.com for $3 billion in 2016, has taken what Walmart Labs was supposed to do and super-charged it with acquisitions and a laser-focused strategy.
Walmart has built out a brand strategy through the acquisition of companies like Bonobos, ModCloth, and Moosejaw. This lets them offer unique products that can’t be directly price shopped across retailers (Bonobos) while also leaning in to premium brands (through Moosejaw and ModCloth) for the customers who don’t consider themselves “Walmart shoppers.”
With that work underway and performing well, Walmart is focusing on additional customer experience points. Recode writes of two such projects, focused on a personal shopper experience for “high net worth urban consumers” as well as a rethinking of the in-store shopping experience. We’ll leave the latter alone for now because “fixing in-store shopping” could be a book’s worth of thoughts.