Walmart buys firms for digital expansion
Retailer grows its footprint in the fields of e-commerce and logistics
WALMART, in an effort to boost its digital presence, has acquired a number of tech-focused start-ups specialising in e-commerce, marketplaces, direct-to-consumer apparel and last mile logistics.
This was according to Guillaume Rio, technology and partnerships manager at Echangeur, who was presenting his discussion “Commerce Reloaded” at the Cape Town leg of the RCS Retail Summit 2018.
The summit is hosted by RCS in partnership with French South African Chamber of Commerce and Industry (FSACCI) Gold Member BNP Paribas, which analyses consumer behaviour and how technology is impacting it, looking at a futuristic view.
According to Rio’s presentation, Walmart acquired several tech-focused startups last year including Parcel, Bonobos, Modcloth and Jet. Rio also highlighted that the retailer had applied for a “robot bee” patent that could potentially pollinate crops like real bees. He said the patent could signal that Walmart was looking to have more control over its food supply chain. Rio said other organisations were also developing pollination drones to help offset the decline of bee populations.
Rio highlighted that other corporate retailers such as Apple, Nike, Sephora and Nordstrom were shaking up their store formats and using augmented reality to enhance the in-store customer experience.
Rio said many customers experiences were being considered by retail chains to open the door to ubiquitous retail, where retail becomes ambient and frictionless.
“Making payments, ordering an Uber or booking a table without interrupting a discussion with someone has even become possible thanks to suggestions of Facebook Messenger which recognises in the context of messages and address or a time and place for meeting someone.
“Artificial intelligence, robots and virtual reality are invading our everyday life and modifying our relationship with retailers and brands,” said Rio.
Deven Moodley from RCS said it was the second edition of the summit and the objective was to cover a few aspects.
“Firstly, it is to really showcase what’s been happening from a consumer trend and customer experience perspective and the team has spent time at the CEO Show and the National Retail Forum to find new trends in technology to try and find ways to package it in a way that makes it very practical too.
“We also introduce the Tech Village, which is around technology and innovation, that last year for the first time was brought into South Africa. We have used that to understand what’s going on and we have taken a lot of feedback from last year,” said Moodley.