![\"\u2122\"](\"https://s.w.org/images/core/emoji/15.0.3/72x72/2122.png\")
shopping.\u201dWalmart\u00a0has added new product categories, omnichannel experiences and fulfillment solutions to its eCommerce platform for third-party sellers,\u00a0Walmart Marketplace.
\n\u201cWe\u2019re bringing all the pieces together to be much more than a marketplace and investing in new ways for sellers to serve customers as we grow together,\u201d\u00a0Manish Joneja, senior vice president, Walmart Marketplace\u00a0and Walmart Fulfillment Services, said in a Tuesday (Aug. 27)\u00a0press release.
\nThe platform\u2019s new product categories include\u00a0Premium Beauty at Walmart, which features custom storefronts and editorial content;\u00a0Resold at Walmart, which includes pre-owned items like luxury fashion, electronics\u00a0and collectibles from 1,700 sellers; and\u00a0Collector Shop, which focuses on collectibles like action figures, dolls and trading cards.
\nWalmart Marketplace will also add a new omnichannel experience that will connect shoppers with local retailers through Walmart\u2019s digital channels and offer direct pickup and delivery from sellers\u2019 physical stores. This Walmart LocalFinds offering will launch this fall in Atlanta and Dallas before rolling out to other cities.
\nThe company also introduced new solutions\u00a0offered by\u00a0Walmart Fulfillment Services (WFS). These include a\u00a0Multichannel Solutions program that will launch Sept. 10 and let sellers use WFS to fulfill orders from any eCommerce site via Walmart\u2019s supply chain; a\u00a0Walmart Cross Border\u00a0import service in which WFS will handle the transportation of full-container-load shipments from ports of origin in Asia to WFS facilities in the United States; and an expansion of the\u00a0Walmart Preferred Carrier program that will let sellers ship a few items or an entire truckload through carriers vetted by Walmart.
\n\u201cWe know the importance of personalized, seamless omnichannel experiences, and Walmart continues to advance its digital and fulfillment capabilities, including the new categories and features we announced today, that enhance the overall customer and seller experience on\u00a0Walmart.com,\u201d\u00a0Tom Ward, executive vice president and chief eCommerce officer, Walmart U.S., said in the release.
\nWalmart launched its\u00a0third-party marketplace in 2009 to diversify its product offerings and compete with Amazon\u2019s seller ecosystem, PYMNTS reported in September.
\nThe company said in its Tuesday press release that Walmart Marketplace has achieved more than 30% sales growth in each of the past four quarters and that the number of sellers listing items on Walmart.com grew 20% in the last fiscal year.
\nFor all PYMNTS digital transformation coverage, subscribe to the daily\u00a0Digital Transformation Newsletter.
\nThe post Walmart Expands Omnichannel Experiences and Fulfillment Solutions for Third-Party Sellers appeared first on PYMNTS.com.
\n", "content_text": "Walmart\u00a0has added new product categories, omnichannel experiences and fulfillment solutions to its eCommerce platform for third-party sellers,\u00a0Walmart Marketplace.\n\u201cWe\u2019re bringing all the pieces together to be much more than a marketplace and investing in new ways for sellers to serve customers as we grow together,\u201d\u00a0Manish Joneja, senior vice president, Walmart Marketplace\u00a0and Walmart Fulfillment Services, said in a Tuesday (Aug. 27)\u00a0press release.\nThe platform\u2019s new product categories include\u00a0Premium Beauty at Walmart, which features custom storefronts and editorial content;\u00a0Resold at Walmart, which includes pre-owned items like luxury fashion, electronics\u00a0and collectibles from 1,700 sellers; and\u00a0Collector Shop, which focuses on collectibles like action figures, dolls and trading cards.\nWalmart Marketplace will also add a new omnichannel experience that will connect shoppers with local retailers through Walmart\u2019s digital channels and offer direct pickup and delivery from sellers\u2019 physical stores. This Walmart LocalFinds offering will launch this fall in Atlanta and Dallas before rolling out to other cities.\nThe company also introduced new solutions\u00a0offered by\u00a0Walmart Fulfillment Services (WFS). These include a\u00a0Multichannel Solutions program that will launch Sept. 10 and let sellers use WFS to fulfill orders from any eCommerce site via Walmart\u2019s supply chain; a\u00a0Walmart Cross Border\u00a0import service in which WFS will handle the transportation of full-container-load shipments from ports of origin in Asia to WFS facilities in the United States; and an expansion of the\u00a0Walmart Preferred Carrier program that will let sellers ship a few items or an entire truckload through carriers vetted by Walmart.\n\u201cWe know the importance of personalized, seamless omnichannel experiences, and Walmart continues to advance its digital and fulfillment capabilities, including the new categories and features we announced today, that enhance the overall customer and seller experience on\u00a0Walmart.com,\u201d\u00a0Tom Ward, executive vice president and chief eCommerce officer, Walmart U.S., said in the release.\nWalmart launched its\u00a0third-party marketplace in 2009 to diversify its product offerings and compete with Amazon\u2019s seller ecosystem, PYMNTS reported in September.\nThe company said in its Tuesday press release that Walmart Marketplace has achieved more than 30% sales growth in each of the past four quarters and that the number of sellers listing items on Walmart.com grew 20% in the last fiscal year.\nFor all PYMNTS digital transformation coverage, subscribe to the daily\u00a0Digital Transformation Newsletter.\nThe post Walmart Expands Omnichannel Experiences and Fulfillment Solutions for Third-Party Sellers appeared first on PYMNTS.com.", "date_published": "2024-08-27T15:56:18-04:00", "date_modified": "2024-08-27T15:57:58-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/03/Walmart-1.jpg", "tags": [ "Connected Economy", "digital transfomration", "digital transformation", "ecommerce", "fulfillment", "News", "omnichannel commerce", "PYMNTS News", "Retail", "third party sellers", "Walmart", "Walmart marketplace", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2063524", "url": "https://www.pymnts.com/walmart/2024/walmart-mexico-not-only-a-retailer-under-new-boss/", "title": "Walmart Mexico \u2018Not Only a Retailer\u2019 Under New Boss", "content_html": "Walmart Mexico\u2019s new boss is aiming to double its sales amid robust eCommerce competition.
\nIgnacio Caride, who spent more than a decade with online retailer Mercado Libre before becoming CEO of Walmart Mexico \u2014 or Walmex \u2014 discussed his vision of the company Sunday (Aug. 25) in an interview with the Financial Times (FT).
\n\u201cWalmex is changing, it\u2019s not a retailer any more\u2009...\u2009[or] it\u2019s not only that,\u201d he said. \u201cAround that core business, which is very important, we are building a whole ecosystem.\u201d
\nAccording to the report, Caride aims to create a seamless experience between physical and online shopping, while also improving Walmex\u2019s ability to cross-sell offerings like financial services and healthcare. The goal is for the company to double annual revenue to around 1.8 trillion pesos (or about $93 billion) over the next nine years.
\nThe FT noted that there\u2019s a wealth of opportunity in the online shopping space, as Mexico \u2014 a middle-income nation with a younger population base \u2014 is one of the world\u2019s fast-growing eCommerce markets.
\nHowever, much of the market share is held by Amazon and Mercado Libre. A report earlier this year by Mexico\u2019s antitrust regulator Cofece found that the two companies control 85% of the country\u2019s eCommerce space, and called the government to order Amazon and Mercado Libre to take \u201ccorrective measures\u201d to ensure competition in the online shopping market.
\nIn the meantime, the challenge for Caribe is to turn a retailer with outdated IT into something that can play in the same arena as its digital-native rivals, the FT report said.
\n\u201cOur big outstanding debt in the digital world is the technology,\u201d he said. \u201cWe\u2019re such a big company with so many systems, we call them legacy systems because they were built for a retail-based mentality, and today we need to modernize that.\u201d
\nResearch by PYMNTS Intelligence has found that 62% of shoppers in Mexico are seeking digital features that aren\u2019t always available, leading merchants to try to fix this digital deficit.\u00a0\u00a0
\n\u201cThe reason shoppers in Mexico want digital shopping features is because often they enable consumers to save money and improve their overall in-store experience,\u201d PYMNTS wrote earlier this year.
\n\u201cIn other words \u2014 just like we found when studying consumer behavior in Brazil, the U.K., the U.S.\u00a0 and elsewhere \u2014 these local shoppers also enjoy enhancing their brick-and-mortar shopping adventures with digital features: an approach to buying our research calls Click-and-Mortar shopping.\u201d
For all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
\nThe post Walmart Mexico ‘Not Only a Retailer’ Under New Boss appeared first on PYMNTS.com.
\n", "content_text": "Walmart Mexico\u2019s new boss is aiming to double its sales amid robust eCommerce competition.\nIgnacio Caride, who spent more than a decade with online retailer Mercado Libre before becoming CEO of Walmart Mexico \u2014 or Walmex \u2014 discussed his vision of the company Sunday (Aug. 25) in an interview with the Financial Times (FT).\n\u201cWalmex is changing, it\u2019s not a retailer any more\u2009...\u2009[or] it\u2019s not only that,\u201d he said. \u201cAround that core business, which is very important, we are building a whole ecosystem.\u201d\nAccording to the report, Caride aims to create a seamless experience between physical and online shopping, while also improving Walmex\u2019s ability to cross-sell offerings like financial services and healthcare. The goal is for the company to double annual revenue to around 1.8 trillion pesos (or about $93 billion) over the next nine years.\nThe FT noted that there\u2019s a wealth of opportunity in the online shopping space, as Mexico \u2014 a middle-income nation with a younger population base \u2014 is one of the world\u2019s fast-growing eCommerce markets.\nHowever, much of the market share is held by Amazon and Mercado Libre. A report earlier this year by Mexico\u2019s antitrust regulator Cofece found that the two companies control 85% of the country\u2019s eCommerce space, and called the government to order Amazon and Mercado Libre to take \u201ccorrective measures\u201d to ensure competition in the online shopping market.\nIn the meantime, the challenge for Caribe is to turn a retailer with outdated IT into something that can play in the same arena as its digital-native rivals, the FT report said.\n\u201cOur big outstanding debt in the digital world is the technology,\u201d he said. \u201cWe\u2019re such a big company with so many systems, we call them legacy systems because they were built for a retail-based mentality, and today we need to modernize that.\u201d\nResearch by PYMNTS Intelligence has found that 62% of shoppers in Mexico are seeking digital features that aren\u2019t always available, leading merchants to try to fix this digital deficit.\u00a0\u00a0\n\u201cThe reason shoppers in Mexico want digital shopping features is because often they enable consumers to save money and improve their overall in-store experience,\u201d PYMNTS wrote earlier this year.\n\u201cIn other words \u2014 just like we found when studying consumer behavior in Brazil, the U.K., the U.S.\u00a0 and elsewhere \u2014 these local shoppers also enjoy enhancing their brick-and-mortar shopping adventures with digital features: an approach to buying our research calls Click-and-Mortar shopping.\u201d\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.\nThe post Walmart Mexico ‘Not Only a Retailer’ Under New Boss appeared first on PYMNTS.com.", "date_published": "2024-08-25T19:50:35-04:00", "date_modified": "2024-08-25T19:52:08-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/Walmart-Mexico.jpg", "tags": [ "Amazon", "ecommerce", "Ignacio Caride", "Mercado Libre", "mexico", "News", "online shopping", "PYMNTS News", "Retail", "Walmart", "Walmart Mexico", "Walmex", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1970746", "url": "https://www.pymnts.com/walmart/2024/walmart-in-talks-to-sell-medical-clinics-closed-in-april/", "title": "Walmart in Talks to Sell Medical Clinics Closed in April", "content_html": "Walmart has reportedly held talks with potential buyers of the medical clinics it closed in April.
\nHealth insurance companies have been among those potential buyers, but it is not clear if any talks are still ongoing, Reuters reported Tuesday (July 2), citing a paywalled article by Fortune.
\nThe retailer aims to recoup some of the investment it made in the clinics, whether in a sale or another takeover arrangement, according to the report.
\nLast week, Walmart sold its virtual care subsidiary, MeMD, to healthcare technology startup Fabric, per the report.
\nWhen announcing that acquisition in a June 28 press release, Fabric said the move would expand its virtual care services to 30,000 employers and 5,000 members.
\n\u201cThe MeMD team built a leading virtual care offering, and we are excited to welcome them to Fabric,\u201d Aniq Rahman, founder and CEO of Fabric, said in the release. \u201cThis acquisition aligns with our strategic vision to transform healthcare delivery through innovative technology and exceptional customer care.\u201d
\nWalmart announced its decision to close all 51 Walmart Health centers across five states and Walmart Health Virtual Care on April 30, saying there was not a sustainable business model for those operations to continue.
\n\u201cThis is a difficult decision, and like others, the challenging reimbursement environment and escalating operating costs create a lack of profitability that make the care business unsustainable for us at this time,\u201d the retailer said in a press release announcing the move.
\nWalmart added that it will continue to offer other health and wellness services through its 4,600 Pharmacies and 3,000 Vision Centers.
\nDuring a May 16 earnings call, Walmart CEO Doug McMillon addressed the scrapping of the retailer\u2019s healthcare initiative, saying the decision was \u201cnecessary but difficult.\u201d
\n\u201cThere were a number of aspects that were going well, and we really want to be a part of the solution to improving health care in this country,\u201d McMillon said. \u201cBut the reality is that given reimbursement rates and cost to serve, we could no longer see a path to achieving an acceptable level of profitability. And we\u2019re committed to being disciplined with our investments.\u201d
\nThe post Walmart in Talks to Sell Medical Clinics Closed in April appeared first on PYMNTS.com.
\n", "content_text": "Walmart has reportedly held talks with potential buyers of the medical clinics it closed in April.\nHealth insurance companies have been among those potential buyers, but it is not clear if any talks are still ongoing, Reuters reported Tuesday (July 2), citing a paywalled article by Fortune.\nThe retailer aims to recoup some of the investment it made in the clinics, whether in a sale or another takeover arrangement, according to the report.\nLast week, Walmart sold its virtual care subsidiary, MeMD, to healthcare technology startup Fabric, per the report.\nWhen announcing that acquisition in a June 28 press release, Fabric said the move would expand its virtual care services to 30,000 employers and 5,000 members.\n\u201cThe MeMD team built a leading virtual care offering, and we are excited to welcome them to Fabric,\u201d Aniq Rahman, founder and CEO of Fabric, said in the release. \u201cThis acquisition aligns with our strategic vision to transform healthcare delivery through innovative technology and exceptional customer care.\u201d\nWalmart announced its decision to close all 51 Walmart Health centers across five states and Walmart Health Virtual Care on April 30, saying there was not a sustainable business model for those operations to continue.\n\u201cThis is a difficult decision, and like others, the challenging reimbursement environment and escalating operating costs create a lack of profitability that make the care business unsustainable for us at this time,\u201d the retailer said in a press release announcing the move.\nWalmart added that it will continue to offer other health and wellness services through its 4,600 Pharmacies and 3,000 Vision Centers.\nDuring a May 16 earnings call, Walmart CEO Doug McMillon addressed the scrapping of the retailer\u2019s healthcare initiative, saying the decision was \u201cnecessary but difficult.\u201d\n\u201cThere were a number of aspects that were going well, and we really want to be a part of the solution to improving health care in this country,\u201d McMillon said. \u201cBut the reality is that given reimbursement rates and cost to serve, we could no longer see a path to achieving an acceptable level of profitability. And we\u2019re committed to being disciplined with our investments.\u201d\nThe post Walmart in Talks to Sell Medical Clinics Closed in April appeared first on PYMNTS.com.", "date_published": "2024-07-02T21:38:46-04:00", "date_modified": "2024-07-02T21:53:21-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/Walmart-health-center-clinic.jpg", "tags": [ "Healthcare", "News", "PYMNTS News", "Retail", "Walmart", "Walmart clinics", "walmart health", "Walmart Health Virtual Care", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1966805", "url": "https://www.pymnts.com/walmart/2024/walmart-cfo-current-quarters-comparable-sales-growth-will-be-weaker/", "title": "Walmart CFO: Current Quarter\u2019s Comparable Sales Growth Will Be Weaker", "content_html": "Walmart\u2019s sales in the current quarter won\u2019t be as strong as they were in the previous quarter, Walmart Chief Financial Officer John Rainey reportedly said Tuesday (June 25).
\nSpeaking at the Bank of America London Investor Conference, Rainey said the current quarter, the second quarter, is \u201ccertainly\u201d the retailer\u2019s most challenging quarter from a comp perspective for the year, Seeking Alpha reported Tuesday.
\n\u201cNot every quarter is going to be as good as the last quarter,\u201d Rainey said, per the report.
\nWalmart reported that its first-quarter comp sales, excluding fuel, were up 3.9%, according to the report.
\nWalmart\u2019s first-quarter earnings were better than expected, PYMNTS reported on May 16.
\nThe retailer\u2019s gains in comparable-store sales were not solely attributable to inflation, Walmart CEO Doug McMillon said at the time during the company\u2019s quarterly earnings call. Inflation contributed only 40 basis points to sales growth, with mid-single-digit deflation in general merchandise and low-single-digit inflation in food and consumables.
\n\u201cWe are focused on what we\u2019re doing and how we earn business with customers and members,\u201d McMillon said during the call. \u201cWe\u2019ve been known for price forever, but we\u2019re increasingly known for convenience. So, whether the environment is inflationary, or deflationary, whether customers have more money or less money, if we\u2019re doing a good job on the items and prices and the service we provide, saving them money with pickup and delivery for example, we can continue to grow share.\u201d
\nWalmart announced Monday (June 24) that it is following up its just-finished summer savings event with another one slated to commence July 8 and run through July 11.
\nThe retailer\u2019s upcoming savings event, \u201cWalmart Deals,\u201d will offer discounts on school-related goods and high-cost electronics.
\nComing just weeks after its Walmart+ Week, which ended Sunday (June 23), the Walmart Deals event highlights the retailer\u2019s responsiveness to the increasing trend among consumers to concentrate their purchases around seasonal sales. It also marks Walmart\u2019s effort to compete with Amazon\u2019s Prime Day to capture consumers\u2019 increased demand for seasonal sales.
\nThe draw of Walmart and similar stores lies in their ability, afforded by their scale, to offer lower prices on essential goods, according to PYMNTS Intelligence\u2019s \u201cNew Reality Check: The Paycheck-to-Paycheck Report.\u201d
\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
\nThe post Walmart CFO: Current Quarter\u2019s Comparable Sales Growth Will Be Weaker appeared first on PYMNTS.com.
\n", "content_text": "Walmart\u2019s sales in the current quarter won\u2019t be as strong as they were in the previous quarter, Walmart Chief Financial Officer John Rainey reportedly said Tuesday (June 25).\nSpeaking at the Bank of America London Investor Conference, Rainey said the current quarter, the second quarter, is \u201ccertainly\u201d the retailer\u2019s most challenging quarter from a comp perspective for the year, Seeking Alpha reported Tuesday.\n\u201cNot every quarter is going to be as good as the last quarter,\u201d Rainey said, per the report.\nWalmart reported that its first-quarter comp sales, excluding fuel, were up 3.9%, according to the report.\nWalmart\u2019s first-quarter earnings were better than expected, PYMNTS reported on May 16.\nThe retailer\u2019s gains in comparable-store sales were not solely attributable to inflation, Walmart CEO Doug McMillon said at the time during the company\u2019s quarterly earnings call. Inflation contributed only 40 basis points to sales growth, with mid-single-digit deflation in general merchandise and low-single-digit inflation in food and consumables.\n\u201cWe are focused on what we\u2019re doing and how we earn business with customers and members,\u201d McMillon said during the call. \u201cWe\u2019ve been known for price forever, but we\u2019re increasingly known for convenience. So, whether the environment is inflationary, or deflationary, whether customers have more money or less money, if we\u2019re doing a good job on the items and prices and the service we provide, saving them money with pickup and delivery for example, we can continue to grow share.\u201d\nWalmart announced Monday (June 24) that it is following up its just-finished summer savings event with another one slated to commence July 8 and run through July 11.\nThe retailer\u2019s upcoming savings event, \u201cWalmart Deals,\u201d will offer discounts on school-related goods and high-cost electronics.\nComing just weeks after its Walmart+ Week, which ended Sunday (June 23), the Walmart Deals event highlights the retailer\u2019s responsiveness to the increasing trend among consumers to concentrate their purchases around seasonal sales. It also marks Walmart\u2019s effort to compete with Amazon\u2019s Prime Day to capture consumers\u2019 increased demand for seasonal sales.\nThe draw of Walmart and similar stores lies in their ability, afforded by their scale, to offer lower prices on essential goods, according to PYMNTS Intelligence\u2019s \u201cNew Reality Check: The Paycheck-to-Paycheck Report.\u201d\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.\nThe post Walmart CFO: Current Quarter\u2019s Comparable Sales Growth Will Be Weaker appeared first on PYMNTS.com.", "date_published": "2024-06-25T17:33:03-04:00", "date_modified": "2024-06-25T17:33:03-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/10/Walmart.jpg", "tags": [ "Earnings", "News", "PYMNTS News", "Retail", "Retail sales", "Revenue", "Walmart", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1965876", "url": "https://www.pymnts.com/walmart/2024/walmart-doubles-down-deal-days-consumers-seek-sales-events/", "title": "Walmart Doubles Down on Deal Days as Consumers Seek Sales Events", "content_html": "Walmart is following up its just-finished summer savings event with another one weeks later, as the retailer looks to compete with Amazon\u2019s Prime Day to capture consumers\u2019 increased demand for seasonal sales.
\nWalmart announced Monday (June 24) an upcoming savings event, \u201cWalmart Deals,\u201d slated to commence on July 8 and run through July 11, highlighting the retailer\u2019s responsiveness to the increasing trend among consumers to concentrate their purchases around seasonal sales, particularly leading into the back-to-school season. There will be discounts on school-related goods, for example, as well as several discounts on high-cost electronics.
\nThe event will be Walmart\u2019s second summer savings occasion in short succession. Its Walmart+ Week, which offered seven days of savings to participants in the retailer\u2019s paid membership program, ended Sunday (June 23). Walmart Deals, conversely, is open to everyone, although Walmart+ members get early access.
\nThe announcement of the second event so soon after the close of the first could suggest that Walmart has seen a positive response to its just-ended initiative and is looking for ways to keep the momentum going as its rival, Amazon, gets ready for its Prime Day event, which is typically a blockbuster.
\nAmazon, for its part, is already looking to drum up enthusiasm for its event, releasing an array of how-to guides meant to get consumers focused on the event and teasing early deals. A TechRadar report Monday spotted a snippet from the company\u2019s Google search results in the United Kingdom saying that the event will run July 16-17, but Amazon has not officially announced the dates.
\nHistorically, Amazon has won big over Walmart when it comes to deals events. The PYMNTS Intelligence report \u201cSummer Deal Days 2023: How Amazon Still Dominates\u201d drew from a survey of more than 5,500 Amazon Prime members and Walmart shoppers, aiming to assess the performance of these sales events among their respective customer groups. The study revealed that Amazon Prime Day saw twice as many participants as Walmart+ Week last year, despite the former being a members-only event and the latter having been open to all.
\nSpecifically, 40% of consumers made purchases during Amazon\u2019s deals event, while half that share did so during Walmart\u2019s, versus 36% and 11%, respectively, in 2022. As such, it seems that while Walmart saw much lower participation, it saw much greater growth by opening the event to all customers. This year, by having a members-only event followed by one open to the public, Walmart may hope to have its cake and eat it too regarding exclusivity, incentivizing new signups for its paid membership in the former and reaching a broader customer base in the latter.
\nOther merchants are joining the mix too, with DoorDash having brought back its seasonal members-only sales event Summer of DashPass and major electronics retailer Best Buy in the midst of its Member Deals Days.
\nOverall, consumers are increasingly concentrating their spending around seasonal sales moments, as has been noted by merchants ranging from Best Buy to Target-owned same-day delivery aggregator Shipt.
\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
\nThe post Walmart Doubles Down on Deal Days as Consumers Seek Sales Events appeared first on PYMNTS.com.
\n", "content_text": "Walmart is following up its just-finished summer savings event with another one weeks later, as the retailer looks to compete with Amazon\u2019s Prime Day to capture consumers\u2019 increased demand for seasonal sales.\nWalmart announced Monday (June 24) an upcoming savings event, \u201cWalmart Deals,\u201d slated to commence on July 8 and run through July 11, highlighting the retailer\u2019s responsiveness to the increasing trend among consumers to concentrate their purchases around seasonal sales, particularly leading into the back-to-school season. There will be discounts on school-related goods, for example, as well as several discounts on high-cost electronics.\nThe event will be Walmart\u2019s second summer savings occasion in short succession. Its Walmart+ Week, which offered seven days of savings to participants in the retailer\u2019s paid membership program, ended Sunday (June 23). Walmart Deals, conversely, is open to everyone, although Walmart+ members get early access.\nThe announcement of the second event so soon after the close of the first could suggest that Walmart has seen a positive response to its just-ended initiative and is looking for ways to keep the momentum going as its rival, Amazon, gets ready for its Prime Day event, which is typically a blockbuster.\nAmazon, for its part, is already looking to drum up enthusiasm for its event, releasing an array of how-to guides meant to get consumers focused on the event and teasing early deals. A TechRadar report Monday spotted a snippet from the company\u2019s Google search results in the United Kingdom saying that the event will run July 16-17, but Amazon has not officially announced the dates.\nHistorically, Amazon has won big over Walmart when it comes to deals events. The PYMNTS Intelligence report \u201cSummer Deal Days 2023: How Amazon Still Dominates\u201d drew from a survey of more than 5,500 Amazon Prime members and Walmart shoppers, aiming to assess the performance of these sales events among their respective customer groups. The study revealed that Amazon Prime Day saw twice as many participants as Walmart+ Week last year, despite the former being a members-only event and the latter having been open to all.\nSpecifically, 40% of consumers made purchases during Amazon\u2019s deals event, while half that share did so during Walmart\u2019s, versus 36% and 11%, respectively, in 2022. As such, it seems that while Walmart saw much lower participation, it saw much greater growth by opening the event to all customers. This year, by having a members-only event followed by one open to the public, Walmart may hope to have its cake and eat it too regarding exclusivity, incentivizing new signups for its paid membership in the former and reaching a broader customer base in the latter.\nOther merchants are joining the mix too, with DoorDash having brought back its seasonal members-only sales event Summer of DashPass and major electronics retailer Best Buy in the midst of its Member Deals Days.\nOverall, consumers are increasingly concentrating their spending around seasonal sales moments, as has been noted by merchants ranging from Best Buy to Target-owned same-day delivery aggregator Shipt.\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.\nThe post Walmart Doubles Down on Deal Days as Consumers Seek Sales Events appeared first on PYMNTS.com.", "date_published": "2024-06-24T16:30:00-04:00", "date_modified": "2024-06-24T16:30:00-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/02/Walmart-eCommerce.jpg", "tags": [ "Amazon", "Consumer Spending", "ecommerce", "economy", "News", "PYMNTS News", "Retail", "Retail sales", "Walmart", "walmart deals" ] }, { "id": "https://www.pymnts.com/?p=1960640", "url": "https://www.pymnts.com/walmart/2024/walmart-relaunch-private-label-fashion-brand-no-boundaries/", "title": "Walmart to Relaunch Private-Label Fashion Brand \u2018No Boundaries\u2019", "content_html": "Walmart will relaunch its private-label fashion brand No Boundaries in stores and online July 16.
\nAimed at young adults, the No Boundaries brand has been refreshed by a Generation Z-focused design team, the retailer said in a Thursday (June 13) press release.
\n\u201cRefreshing our private brand portfolio is critical to our fashion strategy as we evolve our assortment to resonate not only with our core customers, but the next generation of Walmart Shoppers,\u201d Jen Jackson Brown, senior vice president of Walmart U.S. fashion brands, said in the release.
\nThe design team hired by Walmart to refresh No Boundaries is the first such team that the retailer has dedicated to the brand, according to the release.
\nThe line includes 130 size-inclusive pieces with style rooted in casual trends and weekend wear, the release said. Eighty percent of the items are priced under $15, and many are available for $5.
\nThe refreshed No Boundaries collection will be introduced across social channels, including the immersive Walmart Discovered experience on Roblox, where users will be able to buy real-world outfits and unlock virtual twins, per the release.
\n\u201cThere\u2019s a huge opportunity for Walmart to reach a Gen Z customer with a brand that has both incredible style and unbelievable prices,\u201d Brown said in the release. \u201cWe have 145 million U.S. customers shopping with us in stores and online each week, and the new No Boundaries brand is designed and marketed with intention to reach this young adult audience by focusing on fit, quality, style and fabrics that resonate with them.\u201d
\nIt was reported in February 2023 that Walmart was pitching its private-label goods to consumers as its suppliers continued to raise prices. For example, the retailer\u2019s store brands Great Value and Equate compete with packaged goods from giants like Procter and Gamble and Unilever.
\nIn April, Walmart expanded its private-label offerings with the debut of \u201cchef-inspired\u201d food brand bettergoods. The launch represents the retailer\u2019s largest private-brand food rollout in 20 years and is happening as several other retailers are also delving deeper into the world of private-label goods.
\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
\nThe post Walmart to Relaunch Private-Label Fashion Brand \u2018No Boundaries\u2019 appeared first on PYMNTS.com.
\n", "content_text": "Walmart will relaunch its private-label fashion brand No Boundaries in stores and online July 16.\nAimed at young adults, the No Boundaries brand has been refreshed by a Generation Z-focused design team, the retailer said in a Thursday (June 13) press release.\n\u201cRefreshing our private brand portfolio is critical to our fashion strategy as we evolve our assortment to resonate not only with our core customers, but the next generation of Walmart Shoppers,\u201d Jen Jackson Brown, senior vice president of Walmart U.S. fashion brands, said in the release.\nThe design team hired by Walmart to refresh No Boundaries is the first such team that the retailer has dedicated to the brand, according to the release.\nThe line includes 130 size-inclusive pieces with style rooted in casual trends and weekend wear, the release said. Eighty percent of the items are priced under $15, and many are available for $5.\nThe refreshed No Boundaries collection will be introduced across social channels, including the immersive Walmart Discovered experience on Roblox, where users will be able to buy real-world outfits and unlock virtual twins, per the release.\n\u201cThere\u2019s a huge opportunity for Walmart to reach a Gen Z customer with a brand that has both incredible style and unbelievable prices,\u201d Brown said in the release. \u201cWe have 145 million U.S. customers shopping with us in stores and online each week, and the new No Boundaries brand is designed and marketed with intention to reach this young adult audience by focusing on fit, quality, style and fabrics that resonate with them.\u201d\nIt was reported in February 2023 that Walmart was pitching its private-label goods to consumers as its suppliers continued to raise prices. For example, the retailer\u2019s store brands Great Value and Equate compete with packaged goods from giants like Procter and Gamble and Unilever.\nIn April, Walmart expanded its private-label offerings with the debut of \u201cchef-inspired\u201d food brand bettergoods. The launch represents the retailer\u2019s largest private-brand food rollout in 20 years and is happening as several other retailers are also delving deeper into the world of private-label goods.\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.\nThe post Walmart to Relaunch Private-Label Fashion Brand \u2018No Boundaries\u2019 appeared first on PYMNTS.com.", "date_published": "2024-06-13T18:04:01-04:00", "date_modified": "2024-06-13T18:04:01-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/06/Walmart-No-Boundaries-Gen-Z.jpeg", "tags": [ "apparel", "ecommerce", "Generation Z", "Metaverse", "News", "No Boundaries", "PYMNTS News", "Retail", "Roblox", "Walmart", "Walmart Discovered", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1957054", "url": "https://www.pymnts.com/walmart/2024/walmart-says-phonepe-and-flipkart-ipos-years-away/", "title": "Walmart Says PhonePe and Flipkart IPOs Years Away", "content_html": "Walmart\u2019s India-based eCommerce marketplace and payments company aren\u2019t quite ready to go public.
\n\u201cThis is something we\u2019re looking at over the next couple of years,\u201d Walmart\u2019s executive vice president for corporate affairs, Dan Bartlett, told Reuters last week in reference to the company\u2019s marketplace Flipkart and payments platform PhonePe.
\nAnd while Flipkart has been around longer, Walmart could tackle an initial public offering (IPO) for PhonePe first, the executive added, speaking on the sidelines of the company\u2019s shareholders meeting.
\nPhonePe, Bartlett said, is \u201cone of the largest payment platforms\u201d in India, pointing to the company\u2019s connection to India\u2019s instant money transfer system, Unified Payments Interface (UPI), which lets users send money across multiple banks without disclosing account details.
\n\u201cThere\u2019s a lot of processes that have to be put in place before we go public,\u201d Bartlett said, in reference to PhonePe. \u201cObviously the question about the Indian exchange versus others\u201d is \u201cunder consideration\u201d for the future IPO, he added.
\nLast year, Walmart\u2019s chief financial officer told an investor conference audience that the two companies could become $100 billion businesses.
\nMeanwhile, Google announced last month that it plans to invest in Flipkart, becoming a minority investor in the company.
\n\u201cGoogle\u2019s proposed investment and its cloud collaboration will help Flipkart expand its business and advance the modernization of its digital infrastructure to serve customers across the country,\u201d Flipkart said in a news release.
\nThe Flipkart marketplace includes upwards of 500 million registered users, 1.4 million sellers and 150 million products across 80 categories, the release said.
\nWalmart last year paid $1.4 billion for a larger stake in the Indian eCommerce platform, making that purchase from the investment management group Tiger Global. An investor letter at the time pegged Flipkart\u2019s value at $35 billion.
\nLast week saw a report that PhonePe was increasing its dominance of UPI as another local payments firm, Paytm, continued to slip amid regulatory troubles.
\nCompanies such Paytm and PhonePe are all competing for consumer attention in a country that has been on a \u201cdigital payments journey\u201d for the last 15 years, as PYMNTS wrote late last year.
\nResearch by PYMNTS Intelligence has shown that digital wallets are now the preferred payment method for more than half of retail purchases in India, with 8 out of 10 digital wallet users opting for UPI.
\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
\nThe post Walmart Says PhonePe and Flipkart IPOs Years Away appeared first on PYMNTS.com.
\n", "content_text": "Walmart\u2019s India-based eCommerce marketplace and payments company aren\u2019t quite ready to go public.\n\u201cThis is something we\u2019re looking at over the next couple of years,\u201d Walmart\u2019s executive vice president for corporate affairs, Dan Bartlett, told Reuters last week in reference to the company\u2019s marketplace Flipkart and payments platform PhonePe.\nAnd while Flipkart has been around longer, Walmart could tackle an initial public offering (IPO) for PhonePe first, the executive added, speaking on the sidelines of the company\u2019s shareholders meeting.\nPhonePe, Bartlett said, is \u201cone of the largest payment platforms\u201d in India, pointing to the company\u2019s connection to India\u2019s instant money transfer system, Unified Payments Interface (UPI), which lets users send money across multiple banks without disclosing account details.\n\u201cThere\u2019s a lot of processes that have to be put in place before we go public,\u201d Bartlett said, in reference to PhonePe. \u201cObviously the question about the Indian exchange versus others\u201d is \u201cunder consideration\u201d for the future IPO, he added.\nLast year, Walmart\u2019s chief financial officer told an investor conference audience that the two companies could become $100 billion businesses.\nMeanwhile, Google announced last month that it plans to invest in Flipkart, becoming a minority investor in the company.\n\u201cGoogle\u2019s proposed investment and its cloud collaboration will help Flipkart expand its business and advance the modernization of its digital infrastructure to serve customers across the country,\u201d Flipkart said in a news release.\nThe Flipkart marketplace includes upwards of 500 million registered users, 1.4 million sellers and 150 million products across 80 categories, the release said.\nWalmart last year paid $1.4 billion for a larger stake in the Indian eCommerce platform, making that purchase from the investment management group Tiger Global. An investor letter at the time pegged Flipkart\u2019s value at $35 billion.\nLast week saw a report that PhonePe was increasing its dominance of UPI as another local payments firm, Paytm, continued to slip amid regulatory troubles.\nCompanies such Paytm and PhonePe are all competing for consumer attention in a country that has been on a \u201cdigital payments journey\u201d for the last 15 years, as PYMNTS wrote late last year.\nResearch by PYMNTS Intelligence has shown that digital wallets are now the preferred payment method for more than half of retail purchases in India, with 8 out of 10 digital wallet users opting for UPI.\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.\nThe post Walmart Says PhonePe and Flipkart IPOs Years Away appeared first on PYMNTS.com.", "date_published": "2024-06-09T16:52:50-04:00", "date_modified": "2024-06-09T16:52:50-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/06/Flipkart.jpg", "tags": [ "ecommerce", "Flipkart", "india", "initial public offering", "ipo", "News", "PhonePe", "PYMNTS News", "Retail", "United Payments Interface", "UPI", "Walmart", "Walmart India", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1951478", "url": "https://www.pymnts.com/walmart/2024/walmart-week-set-for-june-17-23-promises-members-only-offers/", "title": "Walmart+ Week Set for June 17-23, Promises Members-Only Offers", "content_html": "Walmart will hold its members-only event, Walmart+ Week, June 17 to 23.
\nThe event will feature seven days of offers and savings available to Walmart+ members, the retailer said in a Thursday (May 30) press release.
\n\u201cAdditionally, we\u2019re introducing our first-ever mystery offer, set to be revealed on June 20,\u201d Venessa Yates, general manager and senior vice president of Walmart+, said in the release. \u201cWhile I can\u2019t divulge the details just yet, I promise it will be worth watching out for.\u201d
\nThe offers that have been announced include discounts on fuel; 20% back in Walmart Cash on flights, hotels, car rentals and other activities; complimentary Express Delivery; and three free months of Walmart+ InHome. There will also be exclusive access to items that will be revealed later.
\n\u201cAs you can see, we\u2019re pulling out all the stops this year to transform Walmart+ Week into a unique experience,\u201d Yates said in the release.\u00a0
\nThe retailer has moved up the event on the calendar to be held before Amazon\u2019s Prime Day, Seeking Alpha reported Thursday.
\nAmazon said May 1 that Prime Day will be held in July but that the exact dates for this year\u2019s event have not yet been announced.
\nLast year, Prime Day and Walmart+ Week took place on overlapping days in mid-July.
\nPYMNTS Intelligence found that participation in Prime Day grew to a larger extent than Walmart+ Week, even though Walmart opened Walmart+ Week to the general public in 2023. While 40% of consumers made purchases on Amazon Prime Day, just 20% did so during Walmart+ Week.
\nEven so, Walmart+ Week shoppers spent almost twice as much money as Amazon Prime subscribers, largely owing to the grocery purchases they made. More than half bought groceries during the Walmart+ Week event \u2014 two times more than Amazon Prime shoppers who did the same.
\nPYMNTS also found that customers who participated in the two sales events in 2023 were primarily motivated by the bargains promised by both retailers.
\nThe post Walmart+ Week Set for June 17-23, Promises Members-Only Offers appeared first on PYMNTS.com.
\n", "content_text": "Walmart will hold its members-only event, Walmart+ Week, June 17 to 23.\nThe event will feature seven days of offers and savings available to Walmart+ members, the retailer said in a Thursday (May 30) press release.\n\u201cAdditionally, we\u2019re introducing our first-ever mystery offer, set to be revealed on June 20,\u201d Venessa Yates, general manager and senior vice president of Walmart+, said in the release. \u201cWhile I can\u2019t divulge the details just yet, I promise it will be worth watching out for.\u201d\nThe offers that have been announced include discounts on fuel; 20% back in Walmart Cash on flights, hotels, car rentals and other activities; complimentary Express Delivery; and three free months of Walmart+ InHome. There will also be exclusive access to items that will be revealed later.\n\u201cAs you can see, we\u2019re pulling out all the stops this year to transform Walmart+ Week into a unique experience,\u201d Yates said in the release.\u00a0\nThe retailer has moved up the event on the calendar to be held before Amazon\u2019s Prime Day, Seeking Alpha reported Thursday.\nAmazon said May 1 that Prime Day will be held in July but that the exact dates for this year\u2019s event have not yet been announced.\nLast year, Prime Day and Walmart+ Week took place on overlapping days in mid-July.\nPYMNTS Intelligence found that participation in Prime Day grew to a larger extent than Walmart+ Week, even though Walmart opened Walmart+ Week to the general public in 2023. While 40% of consumers made purchases on Amazon Prime Day, just 20% did so during Walmart+ Week.\nEven so, Walmart+ Week shoppers spent almost twice as much money as Amazon Prime subscribers, largely owing to the grocery purchases they made. More than half bought groceries during the Walmart+ Week event \u2014 two times more than Amazon Prime shoppers who did the same.\nPYMNTS also found that customers who participated in the two sales events in 2023 were primarily motivated by the bargains promised by both retailers.\nThe post Walmart+ Week Set for June 17-23, Promises Members-Only Offers appeared first on PYMNTS.com.", "date_published": "2024-05-30T21:08:15-04:00", "date_modified": "2024-05-30T21:08:15-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/05/Walmart-Week.jpg", "tags": [ "Amazon", "News", "Prime Day", "PYMNTS News", "Retail", "Walmart", "Walmart+ Week", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1950672", "url": "https://www.pymnts.com/walmart/2024/walmart-encountered-mispricing-issue-at-self-checkout-in-1600-stores/", "title": "Walmart Encountered Mispricing Issue at Self-Checkout in 1,600 Stores", "content_html": "Walmart reportedly encountered a pricing issue that affected 1,600 of its stores across the United States in March.
\nThe internal system failure resulted in widespread mispricing, with some items being sold at incorrect lower prices and others at higher prices, Bloomberg\u00a0reported Wednesday (May 29).
\nWhile Walmart has taken steps to address the problem and reimburse affected customers, concerns about consumer protection laws and potential legal and regulatory consequences for the company have arisen, according to the report.
\nWhen the incident began on March 19, internal warnings alerted Walmart about pricing discrepancies occurring at self-checkout stands in its stores, the report said. A system failure prevented price data from flowing to the self-checkout stands, leading to widespread mispricing.
\nWhile Walmart acknowledged the breakdown and overcharging of customers, specific details such as the number of affected individuals, the total amount overcharged and the duration of the problem were not disclosed, per the report.
\nWalmart spokesperson\u00a0Mischa Dunton told Bloomberg that the technical issue was resolved, and more than 80% of customers who were overcharged have been reimbursed.
\nHowever, legal experts said that despite the reimbursement efforts, the pricing errors likely violate state and federal consumer protection laws, according to the report.
\nChristopher Peterson, a law professor at the University of Utah, told Bloomberg that even a small mistake of this magnitude could result in millions of dollars in illegal overcharges.
\nState and federal authorities will likely consider two factors when deciding whether to take action against Walmart,\u00a0Bill Kovacic, a professor at George Washington University Law School, told Bloomberg.
\nFirstly, they will assess whether the company made a complete and good-faith effort to reimburse affected customers and notify them of the issue. Secondly, they will expect Walmart to conduct a thorough investigation into the cause of the problem and implement measures to prevent its recurrence, Kovacic said, per the report.
\nThe pricing issue was not the only technological problem Walmart faced in recent months, according to the report. The company experienced cash register and website outages in February, as well as disruptions to photo and vision prescription orders in March.
\nWalmart described these incidents as \u201cdisparate events\u201d and \u201canomalies,\u201d emphasizing the inherent risks associated with innovation and technology integration, per the report.
\nIt was reported in March that the retailer was scaling back\u00a0self-checkout, limiting it to subscribers or making decisions about use of the technology on a store-by-store basis.
\nThe post Walmart Encountered Mispricing Issue at Self-Checkout in 1,600 Stores appeared first on PYMNTS.com.
\n", "content_text": "Walmart reportedly encountered a pricing issue that affected 1,600 of its stores across the United States in March.\nThe internal system failure resulted in widespread mispricing, with some items being sold at incorrect lower prices and others at higher prices, Bloomberg\u00a0reported Wednesday (May 29).\nWhile Walmart has taken steps to address the problem and reimburse affected customers, concerns about consumer protection laws and potential legal and regulatory consequences for the company have arisen, according to the report.\nWhen the incident began on March 19, internal warnings alerted Walmart about pricing discrepancies occurring at self-checkout stands in its stores, the report said. A system failure prevented price data from flowing to the self-checkout stands, leading to widespread mispricing.\nWhile Walmart acknowledged the breakdown and overcharging of customers, specific details such as the number of affected individuals, the total amount overcharged and the duration of the problem were not disclosed, per the report.\nWalmart spokesperson\u00a0Mischa Dunton told Bloomberg that the technical issue was resolved, and more than 80% of customers who were overcharged have been reimbursed.\nHowever, legal experts said that despite the reimbursement efforts, the pricing errors likely violate state and federal consumer protection laws, according to the report.\nChristopher Peterson, a law professor at the University of Utah, told Bloomberg that even a small mistake of this magnitude could result in millions of dollars in illegal overcharges.\nState and federal authorities will likely consider two factors when deciding whether to take action against Walmart,\u00a0Bill Kovacic, a professor at George Washington University Law School, told Bloomberg.\nFirstly, they will assess whether the company made a complete and good-faith effort to reimburse affected customers and notify them of the issue. Secondly, they will expect Walmart to conduct a thorough investigation into the cause of the problem and implement measures to prevent its recurrence, Kovacic said, per the report.\nThe pricing issue was not the only technological problem Walmart faced in recent months, according to the report. The company experienced cash register and website outages in February, as well as disruptions to photo and vision prescription orders in March.\nWalmart described these incidents as \u201cdisparate events\u201d and \u201canomalies,\u201d emphasizing the inherent risks associated with innovation and technology integration, per the report.\nIt was reported in March that the retailer was scaling back\u00a0self-checkout, limiting it to subscribers or making decisions about use of the technology on a store-by-store basis.\nThe post Walmart Encountered Mispricing Issue at Self-Checkout in 1,600 Stores appeared first on PYMNTS.com.", "date_published": "2024-05-29T18:45:42-04:00", "date_modified": "2024-05-29T18:45:42-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/05/Walmart-self-checkout-retail.jpg", "tags": [ "grocery", "News", "payments", "pricing", "PYMNTS News", "Retail", "Self-Checkout", "Technology", "Walmart", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1946964", "url": "https://www.pymnts.com/walmart/2024/walmart-debuts-expanded-versions-of-neighborhood-market/", "title": "Walmart Debuts Expanded Versions of Neighborhood Market", "content_html": "Walmart\u00a0has introduced an expanded take on its Neighborhood Market stores.
\nThe retail giant is in the midst of\u00a0opening or converting more than 150 stores in the next five years, including two new Neighborhood Markets in the Dune Lakes area of Santa Rosa Beach, Florida, and Atlanta\u2019s Vine City neighborhood, Walmart announced Tuesday (May 21).
\n\u201cThe stores aren\u2019t just new or remodeled. They\u2019re also bigger,\u201d\u00a0Kyle Kinnard, Walmart\u2019s senior vice president for Neighborhood Markets, wrote on the company blog.
\n\u201cWith 57,000 square feet of sales floor and pickup and delivery space, the Dune Lakes and Vine City stores will have a footprint that\u2019s about 17,000 square feet larger than the average Neighborhood Market. The expanded space will allow us to sharpen our focus on value, speed and convenience,\u201d Kinnard added.
\nAccording to the announcement, this larger layout will let Walmart offer a wider assortment of products, particularly in its fresh food offerings.
\n\u201cWe\u2019ve also allotted more space for pickup and delivery orders in these new stores,\u201d Kinnard said. \u201cThe larger space includes dedicated room for refrigerated goods, so associates can keep orders moving at an even faster pace.\u201d
\nThat\u2019s in keeping with remarks\u00a0CEO Doug McMillon made last week when Walmart reported its quarterly earnings. \u201cWe are focused on what we\u2019re doing and how we earn business with customers and members,\u201d McMillon said.
\n\u201cWe\u2019ve been known for price forever, but we\u2019re increasingly\u00a0known for convenience. So whether the environment is inflationary, or deflationary, whether customers have more money or less money, if we\u2019re doing a good job on the items and prices and the service we provide, saving them money with pickup and delivery for example, we can continue to grow share,\u201d McMillon added.
\nAlso on the call, the company discussed how its\u00a0Click-and-Mortar\u00a0technologies are contributing to growth, with Chief Financial Officer John David Rainey pointing to \u201cdigitally enabled solutions such as\u00a0Scan & Go and curbside pickup\u201d\u00a0as drivers of improved performance in the quarter.
Meanwhile, former Walmart U.S. CEO Bill Simon warned last week that the company\u2019s recent embrace by more affluent shoppers might be short-lived.
\nSpeaking on CNBC\u2019s Fast Money, Simon said that when the economic situation improves, consumers will go back to retailers that\u00a0provide a premium experience.
\n\u201cAs the economic challenges abate \u2026 service will become more important than convenience and price. And, we\u2019ll see a shift back of some of the consumers,\u201d Simon said.
\nFor all PYMNTS retail coverage, subscribe to the daily\u00a0Retail Newsletter.
\nThe post Walmart Debuts Expanded Versions of Neighborhood Market appeared first on PYMNTS.com.
\n", "content_text": "Walmart\u00a0has introduced an expanded take on its Neighborhood Market stores.\nThe retail giant is in the midst of\u00a0opening or converting more than 150 stores in the next five years, including two new Neighborhood Markets in the Dune Lakes area of Santa Rosa Beach, Florida, and Atlanta\u2019s Vine City neighborhood, Walmart announced Tuesday (May 21).\n\u201cThe stores aren\u2019t just new or remodeled. They\u2019re also bigger,\u201d\u00a0Kyle Kinnard, Walmart\u2019s senior vice president for Neighborhood Markets, wrote on the company blog.\n\u201cWith 57,000 square feet of sales floor and pickup and delivery space, the Dune Lakes and Vine City stores will have a footprint that\u2019s about 17,000 square feet larger than the average Neighborhood Market. The expanded space will allow us to sharpen our focus on value, speed and convenience,\u201d Kinnard added.\nAccording to the announcement, this larger layout will let Walmart offer a wider assortment of products, particularly in its fresh food offerings.\n\u201cWe\u2019ve also allotted more space for pickup and delivery orders in these new stores,\u201d Kinnard said. \u201cThe larger space includes dedicated room for refrigerated goods, so associates can keep orders moving at an even faster pace.\u201d\nThat\u2019s in keeping with remarks\u00a0CEO Doug McMillon made last week when Walmart reported its quarterly earnings. \u201cWe are focused on what we\u2019re doing and how we earn business with customers and members,\u201d McMillon said.\n\u201cWe\u2019ve been known for price forever, but we\u2019re increasingly\u00a0known for convenience. So whether the environment is inflationary, or deflationary, whether customers have more money or less money, if we\u2019re doing a good job on the items and prices and the service we provide, saving them money with pickup and delivery for example, we can continue to grow share,\u201d McMillon added.\nAlso on the call, the company discussed how its\u00a0Click-and-Mortar\u00a0technologies are contributing to growth, with Chief Financial Officer John David Rainey pointing to \u201cdigitally enabled solutions such as\u00a0Scan & Go and curbside pickup\u201d\u00a0as drivers of improved performance in the quarter.\nMeanwhile, former Walmart U.S. CEO Bill Simon warned last week that the company\u2019s recent embrace by more affluent shoppers might be short-lived.\nSpeaking on CNBC\u2019s Fast Money, Simon said that when the economic situation improves, consumers will go back to retailers that\u00a0provide a premium experience.\n\u201cAs the economic challenges abate \u2026 service will become more important than convenience and price. And, we\u2019ll see a shift back of some of the consumers,\u201d Simon said.\nFor all PYMNTS retail coverage, subscribe to the daily\u00a0Retail Newsletter.\nThe post Walmart Debuts Expanded Versions of Neighborhood Market appeared first on PYMNTS.com.", "date_published": "2024-05-21T15:11:28-04:00", "date_modified": "2024-05-21T15:11:28-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/10/Walmart.jpg", "tags": [ "brick and mortar", "Click-and-Mortar\u2122", "Commerce", "grocery", "News", "PYMNTS News", "Retail", "retailers", "Walmart", "Walmart Neighborhood Market", "What's Hot" ] } ] }