Long known for low prices, Walmart is bulking up its online offerings and focusing more on convenience heading into the holiday shopping season.
While Walmart is the biggest retailer, its e-commerce business is still much smaller than rival Amazon.
Doug McMillon, who leads the world's largest retailer, took the stage and made a sales pitch to the smaller businesses and brands."We hope you'll choose to grow with us," the CEO told the more than 1,500 attendees, invoking the memory of company founder Sam Walton, who was at one time a small-town entrepreneur."We want you to bring great items to our marketplace. Our team is here to serve you.
"Customers want choice," he said."They want that selection. They want that variety. And as they visit us more and more often, they expect to see it."When it comes to e-commerce, Walmart is in a rare spot: the underdog. Its online sales are just a tiny fraction of whatCustomers who shop on Amazon and Walmart's website see a mix of items.
About a year and a half ago, the apparel retailer that represents national brands such as Disney, New Balance and Reebok tested sales of some items on Walmart's marketplace. The stores act as mini warehouses, with more than 50% of online orders fulfilled from its stores as of the end of its most recent quarter, which ended in late July. About 90% of Americans live within 10 miles of a Walmart store, proximity that makes it possible for Walmart to sometimes to get a package to customers' doors faster than Amazon.
Walmart has tried and backed away from other strategies to do that. It previously went on an acquisition spree of direct-to-consumer brands with a fan following including Bonobos, Moosejaw and Eloquii afterThat may be helping to lift the use of Walmart's app. According to estimates by third-party firm Apptopia, which analyzes trends with mobile apps and connected devices, Walmart's shopping app has now surpassed Amazon's in terms of daily use.
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