Since the strategic acquisition it has taken Walmart’s online sales from essentially 0 to 60 in 3 seconds flat.
“Under the guidance of Jet founder Marc Lore, who now leads all of Walmart’s domestic e-commerce operations, the company is showing no signs of slowing down in its digital expansion.”
Walmart’s spending spree in the U.S. has already begun to pay off. Last quarter, its domestic e-commerce sales increased 43% year over year. That helped drive a 3.4% increase in comparable-store sales. Delivery, Jet, improvements to the Walmart.com site, and online-order/in-store pickup have all helped. But adding specialty retailers like Bare Necessities and ELOQUII to complement existing offerings on Jet and Walmart’s sites has also helped the retailer attract new customers.
The world’s largest online collection of art and wall decor. Art.com will operate independently, but will eventually be used to populate art and decor searches on Walmart and Jet’s website.
Walmart gave another $320 million to this Chinese e-commerce and delivery start-up, boosting its interest in the company to 10%. The investment in Dada JD-Daojia is in partnership with Chinese e-commerce giant JD.com.
Overall it seems that Walmarts strategy of acquiring already established websites with e-commerce already in place, and using them to sell it’s products, is proving to be a remarkable success.
While still not matching Amazon in terms of online sales, Walmart’s overall revenue of $500 billion makes it 2017’s highest earning company in the world.