Innovation Pays Off for Nation's Biggest Retailer | Street Fight

Innovation Pays Off for Nation’s Biggest Retailer

Innovation Pays Off for Nation’s Biggest Retailer

Walmart posted strong sales in Q3, suggesting that its determination to compete with Amazon by investing in cutting-edge, tech-driven approaches to retail is paying dividends.

Walmart reported a 43% jump in e-commerce sales last quarter and a brick-and-mortar bump of 3.4% for stores open more than a year, the Wall Street Journal reported.

Here are some of the latest tech trends on which Walmart is leading the way:

  • AR/visual search. As Street Fight reported, Walmart is offering an AR app that allows consumers to find out more about products in-store. Consumers just point their smartphones at physical products, and the app feeds back information about price, color, and other attributes.
  • Tying together online and offline. One example here is returns. Customers who purchase things online that they want to return can simply hop over to the nearest Walmart location. 
  • For members (think Amazon Prime), Walmart is offering Jetblack, a service that recommends products to consumers and allows them to order via text message. It’s being led by a co-founder of Rent the Runway, another sign that Walmart’s investing in the talent required to be a tech-forward retailer.

Joe Zappa is Street Fight’s managing editor.

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