As one of the largest retailers in the world, Walmart has always been one to watch in the business world. And with the recent developments in the company, it’s worth taking a closer look at the latest business news from Walmart.
In the past year, Walmart announced some big moves that are sure to impact the retail industry. Let’s take a comprehensive roundup of these updates:
1. Walmart+ Launch
In September 2020, Walmart launched its newest subscription service, Walmart+. This membership program offers free delivery options, fuel discounts, and even access to a new scan-and-go mobile app. Walmart+ was seen as a direct competitor to Amazon Prime, and analysts forecast a potentially huge shift in market share between the two retail giants.
2. Partnership with Shopify
In June 2020, Walmart announced a partnership with Canadian e-commerce platform Shopify. This collaboration was aimed at letting small- and medium-sized businesses list their products on Walmart’s online marketplace, potentially providing a boost to these retailers during the COVID-19 pandemic.
3. Increased focus on sustainability
Walmart has been vocal about its sustainability initiatives in recent years, and in September 2020, the company announced its goal to become a zero-emission company by 2040. To support this target, Walmart plans to use only renewable energy by 2035, and aims to electrify its entire vehicle fleet by 2040.
4. Expansion of Walmart Health clinics
Walmart has been steadily expanding its healthcare offering through Walmart Health clinics, which offer primary care, dental, and optical services. In 2020, the company announced plans to open more clinics across the US, potentially making healthcare more accessible to consumers in rural areas.
5. Increased online sales during pandemic
As a result of the COVID-19 pandemic, Walmart saw a surge in online sales. In fact, the company reported a 97% increase in e-commerce sales in the second quarter of 2020, compared to the year before. This trend suggested that Walmart’s investment in its online presence and e-commerce platforms has paid off, and the company may continue to prioritize e-commerce in future strategies.
In conclusion, Walmart has been making significant moves in the past year. From launching Walmart+ to increasing sustainability initiatives and expanding healthcare offerings, Walmart is positioning itself as a major force in the retail industry, in spite of the disruptions caused by the COVID-19 pandemic. These developments are worth monitoring for any business or consumer interested in the future of retail.
