Walmart sets the stage for e-commerce growth
Walmart’s online results for the fourth quarter spooked investors, but the discounter is confident that it will regain momentum this year.
Walmart reported a 23% increase in online sales for the quarter, compared to a 50% increase in the previous quarter. The chain said part of the decline was expected as sales growth on Jet.com, which it acquired in 2016, cooled. It also cited operational snags.
Despite the disappointing results, Walmart is well poised for future online growth and expects e-commerce growth of 40% in its current fiscal year. It is planning a number of investments in its website and overall digital operations that should start to take hold later this year, CNBC reported.
The upcoming initiatives include a revamped website with a focus on fashion and home goods. The site will also feature Jet.com’s “smart cart” technology, which provides shoppers cheaper prices if they pack more items together in one box, use a debit card when paying for purchases or opt out of returns, the report said.
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Walmart reported a 23% increase in online sales for the quarter, compared to a 50% increase in the previous quarter. The chain said part of the decline was expected as sales growth on Jet.com, which it acquired in 2016, cooled. It also cited operational snags.
Despite the disappointing results, Walmart is well poised for future online growth and expects e-commerce growth of 40% in its current fiscal year. It is planning a number of investments in its website and overall digital operations that should start to take hold later this year, CNBC reported.
The upcoming initiatives include a revamped website with a focus on fashion and home goods. The site will also feature Jet.com’s “smart cart” technology, which provides shoppers cheaper prices if they pack more items together in one box, use a debit card when paying for purchases or opt out of returns, the report said.
To read more, click here.