Walmart

Walmart in China is now testing same-day grocery delivery from Dada via WeChat

Walmart has just begun testing same-day grocery delivery called Walmart To Go in one of its stores in China, months after the American retail titan expanded grocery delivery in its homeland. The service is accessed through a mini-program within WeChat – the Tencent-owned messaging platform Walmart partnered with earlier this year, in order to better reach its Chinese customers. The retailer hasn’t made a formal announcement about the same-day grocery delivery because the service is being tested while Walmart collects customer feedback. However, there is signage in the store that informs customers about the option. Customers near Walmart’s Xiangmihu store can now have groceries delivered to their doorsteps within one hour. The test is taking place in the main Walmart WeChat mini-program, an...

Walmart passes Apple to become No. 3 online retailer in U.S.

Walmart has overtaken Apple to become the No. 3 online retailer in the U.S., according to a report this week from eMarketer. While Amazon still leads by a wide margin, accounting for 48 percent of e-commerce sales in 2018, Walmart – including also Sam’s Club and Jet.com – is poised to capture 4 percent of all online retail spending in the U.S. by year-end, totaling $20.91 billion. The news of the shift in e-commerce rankings comes alongside Walmart’s strong earnings which saw the retailer reporting a 43 percent increase in online sales and upping its year-end forecast for both earnings and sales. The company had beat Wall St.’s expectations in its fiscal third quarter, with $1.08 earnings per share instead of the expected $1.01. However, it fell short on revenue with $124.89 billion versus...

Alibaba and Amazon move over, we visited JD.com connected grocery store in China

The arms race to build the future of grocery stores is heating up in China. To no one’s surprise, the main contestants are the country’s ecommerce titans Alibaba and JD.com, which are turning offline for growth. Online retail has flourished in China, but it still accounts for less than 20 percent of the nation’s overall consumption, according to the Ministry of Commerce. The goal of internet players is not to steal business from the offline counterparts, but to digitize old-fashioned merchants. Long before Amazon bought out Whole Foods for $13.7 billion last year, Alibaba was making offline forays by forging partnerships with a department store operator, an electronics retail heavyweight, and more recently, a prolific hypermarket chain. The purest manifestation of Alibaba’s physical push c...

Walmart is building an AI lab inside one of its store

Walmart has just announced its plans to launch what it’s calling an Intelligent Retail Lab inside one of its stores in Levittown, New York. The idea is to test both associate and customer experiences. For example, Walmart wants to use artificial intelligence to better identify when items are running low on stock so that it can proactively replenish the stock. Lead by an internal team called Kepler, Walmart also envisions using the technology to identify spills, better understand when shopping carts are running low near the entrance and identify when items are on the wrong shelf. Tech publications, including this one, had previously reported that Project Kepler would entail cashierlesss stores. Instead, Walmart says Kepler is the name of the team building the AI lab inside the working Walma...

Mexican venture firm ALL VP has a $73 million first close on its latest fund

Buoyed by international attention from U.S. and Chinese investors and technology companies, new financing keeps flowing into the coffers of Latin American venture capital firms. One day after the Brazilian-based pan-Latin American announced the close of its $150 million latest fund comes word from our sources that ALL VP, the Mexico City-based, early stage technology investor, has held a first close of $73 million for its latest investment vehicle. The firm launched its first $6 million investment vehicle in 2012, according to CrunchBase, just as Mexico’s former President Enrique Peña Nieto was coming to power with a pro-business platform. One which emphasized technology development as part of its strategy for encouraging economic growth. ALL VP founding partner Fernando Lelo de Larrea sai...

Walmart continues M&A spree with acquisition of lingerie retailer Bare Necessities

Walmart continues to beef up its portfolio of digital brands, announcing on Friday that it had acquired Bare Necessities, an online retailer of lingerie, swimwear, hosiery and other intimates. Walmart declined to disclose the terms of the deal. The lingerie company, founded in 1998, will operate independently of Walmart. Over time, the e-commerce giant says it will make Bare Necessities’ products available on Walmart.com, as well as on Jet.com, which Walmart acquired for more than $3 billion in 2016 to bolster its e-commerce business. Walmart has long been one of the most active acquirers of startups and hasn’t slowed down in 2018. Just last week, the company announced it would purchase women’s plus-sized clothing brand ELOQUII. Before that, it paid $225 million for a grocery delivery serv...

Deliverr raises $7M to help e-commerce businesses compete with Amazon Prime

When Amazon rolled out its membership-based two-day shipping service in 2005, e-commerce and customer expectations around fulfillment speed changed forever. Today, more than 100 million people use Amazon Prime. That means, 100 million people are fully accustomed to two-day shipping and if they can’t have it, they shop elsewhere. As The Wall Street Journal’s Christopher Mims recently put it: “Alongside life, liberty and the pursuit of happiness, you can now add another inalienable right: two-day shipping on practically everything.” Only recently have Amazon’s competitors begun to offer similar fast delivery options. About two years ago, Walmart launched its own free two-day delivery service for its owned-inventory; eBay followed suit, establishing a three-day or less delivery guaranteed opt...

Walmart to acquire women’s plus-size clothing brand ELOQUII

Walmart is expanding further into apparel with today’s announcement of its plans to acquire the digitally native, women’s plus-size clothing brand ELOQUII for an undisclosed amount. The deal includes ELOQUII CEO Mariah Chase, her executive team and its 100 employees, who will continue to be based in Long Island City, NY and Columbus, OH. They’ll join Walmart’s U.S. e-commerce organization, reporting to Andy Dunn, SVP of Digital Consumer Brands, Walmart U.S. eCommerce, when the deal closes later this year. Women’s plus-size fashion is of interest to Walmart because it’s one of the fastest-growing segments of women’s apparel, and an estimated $21 billion market, the retailer explains. More than half of U.S. women ages 18-65 now wear a size 14 or higher, but traditional fashion brands often o...

Amazon makes offline retail push in India

Amazon unleashed a flurry of new products this week at a U.S. press event, but halfway across the world, it is getting deeper into physical retail in the Indian market. The U.S. e-commerce giant is buying up 49 percent of More in a deal that sees Amazon partner and PE firm Samara Capital pick up the remaining 51 percent. Amazon and Samara have created an entity called Witzig Advisory Services Private Limited which will hold the ownership stake through the deal, which is reportedly worth around $585 million according to Indian media. Regulation prevents Amazon from owning the business entirely, hence it requires a local partner to take a majority stake. The deal is significant because it represents a major move for Amazon in brick and mortar retail in India, which is one of the up-and-comin...

Instacart expands ALDI partnership

After pilot programs in Atlanta, Dallas, Los Angeles and Chicago were “overwhelmingly positive,” per Instacart CEO Apoorva Mehta’s statement, the grocery delivery service has decided to expand its partnership with U.S. grocer ALDI. As of Thanksgiving, Instacart users in 35 states and 5,000 ZIP codes will be able to fill their virtual carts with ALDI groceries. ALDI is in the process of completing a $5 billion remodel, with plans to expand its store count to 2,500 in the next four years. The grocer initially entered into an agreement with Instacart last fall. Since raising another $150 million in April, Instacart has doubled down on expansion efforts. Last week, the company announced a new partnership with Walmart Canada that put an additional 17 Walmart locations across Toronto and Winnipe...

Walmart.com now sells Handy’s installation and assembly services

In March, Walmart announced it was partnering with Handy to sell its in-home installation and assembly services in over 2,000 of its brick-and-mortar retail stores. Now, that partnership is expanding to Walmart’s e-commerce site, too. This week, Walmart began offering online shoppers the ability to add Handy services to their cart at checkout. This allows customers to order in-home installations for things like mounting TVs, or get help with assembling their furniture, among other things. The news was first reported by Bloomberg on Wednesday, when Handy became available to online shoppers. However, the full rollout of Handy across Walmart’s e-commerce site will continue throughout September – meaning, if you don’t see the option now, you will fairly soon. Founded in 2012, New York-based Ha...

What I learned from Flipkart

Oliver Rippel Contributor Oliver Rippel is the chief executive officer of Naspers’ global business to consumer subsidiaries and investments. Two weeks ago, Walmart concluded its investments to acquire a majority stake in Flipkart. This is one of the largest transactions in e-commerce and in the internet space globally, with Walmart deploying US$16 billion to obtain an approximate 77% shareholding at closing. As part of this transaction, my company, Naspers, exited fully, selling our 11.18% stake for $2.2 billion. In addition to the obvious financial success — a 3.6x or $1.6 billion absolute return in six years — being part of one of the greatest success stories of the Indian and global e-commerce market led to countless insights for Naspers. Our journey with Flipkart will help us to ...