Marc Lore is retiring from Walmart as the company continues to move away from individual new e-commerce initiatives and focuses on integrating the online and store business elements.
At a panel held last week in New York, David Echegoyen, chief customer officer at Jet.com, told the audience that the company’s recent refocus on the affluent, urban Millennial consumer represents not so much as a change in its approach to the marketplace as a shift driven in large measure by its purchase by Walmart.
Walmart will invest $41 million and create 400 full-time jobs at a new facility in Shepherdsville, Bullitt County, Kentucky, dedicated to fulfilling online orders from Walmart.com and Walmart subsidiary Jet.com.
Walmart’s technology incubator, Store No. 8, has launched Jetblack, a new members-only conversational commerce shopping service that is said to combine the convenience of e-commerce with the customized attention of a personal assistant.
As Walmart looks for ways to enhance the relationship between its brick-and-mortar and e-commerce operations, the retailer is rolling out a new program that offers shoppers additional discounts on items purchased online that are then picked up by the customer in store.
The game plan for recently acquired Jet.com is to target Millennials, provide a unique brand proposition and build on distribution advantages inherent and newly available to the e-commerce division, executives proposed at the Walmart annual analyst meeting.
As part of its 2016 investment community meeting, Wal-Mart Stores said it plans to outline the company’s strategic framework to its omnichannel strategy, which includes continued investment in digital products and integration of Jet.com into more comprehensive Internet operations.