wordpress blog stats
Connect with us

Hi, what are you looking for?

How Walmart adapted to meet a spike in COVID-related online demand in the US

Walmart’s massive network of stores in the US helped it scale e-commerce operations as demand for certain goods spiked amid the COVID-19 pandemic. The company said its US e-commerce sales shot up 74% over last year. To meet the spike in demand, it quickly converted 2,500 of its stores into fulfilment centres. The company also took other strategic steps including combining its online apps, launching new delivery options, and more importantly, by shutting down Jet.com, which it had acquired for over $3 billion in 2016. Walmart possibly decided to shutdown Jet because it lost about $2 billion on its online e-commerce operations last year, according to the Wall Street Journal. Walmart CEO Doug McMillon, during a call with investors, said since mid-March, when social-distancing rules went into effect in the US, the company has seen four times as many new customers as normal trying delivery or pickup of online orders; and many of them are becoming repeat shoppers. The company said store pickup and delivery spiked in March and remained elevated in April with sales growth of nearly 300% at peak. Growth in marketplace outpaced the overall business even as first-party sales were strong. Key steps Walmart took to meet surge in online demand “Customers are gravitating towards store pickup and delivery, driving record demand for these services leading to triple-digit growth in U.S. e-commerce sales during peak periods,” CFO Brett Biggs said, and added that the strategy of offering users multiple channels to order from has proven to be important. To…

Please subscribe/login to read the full story.
Written By

Free Reads

News

Telecom companies are against a regulatory sandbox, as they think information revealed by businesses during the sandboxing process might be confidential should be out...

News

According to a statement, the executive body of the European Union had also sought internal documents on the risk assessments and mitigation measures for...

News

The newly launched partially open-sourced LLM Grok-1 can be commercially used but not trademarked.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ