Walmart Buys Jet.com as E-Commerce Dominates Shopping Trends
The Reasons behind Walmart’s E-Commerce Strategy
Walmart’s move to buy the online-only retailer Jet.com for $3 billion this month is an attempt for the company, known for its big box stores, to compete with Amazon and keep pace with consumer habits. This was the first year that consumers bought more goods online than in stores with 51% making their purchases on the Web. According to TechCrunch, Doug McMillon, president and CEO of Walmart said in a conference call to investors, “This is Walmart being even more committed to winning in e-commerce.”
The major corporation sees the trend of mobile and online shopping taking a significant rise and making a significant dent in brick-and-mortar sales.
Jet.com: a 1-year old E-commerce Startup
WalMart acquired Jet.com’s Know-How and Customer Base
If shoppers are familiar with a certain accessibility and availability of online shopping, they are not going to take the time to drive to the closest Walmart. And Walmart.com wasn’t meeting expectations with so many competitors on the rise. Now Walmart will manage and control its retail site and the Jet brand in hopes to lure customers away from the ease of Amazon and toward attractive prices and household names.
For such a large company as Walmart to make a strategic move like this shows the real shift in shopping trends. Consumers are now so accustomed to entering a search term, filtering results and making a purchase in one click, that this way of working is permeating other industries. With this idea, Vroozi has greatly simplified the procurement process. A central catalog and highly functional marketplace allows shoppers, no matter their skill level or procurement knowledge, to make a purchase for a company as easily as they shop for personal items on Amazon. Vroozi is also mobile-enabled, matching the consumer expectations of being able to shop anywhere, any time.
As more companies like Walmart recognize the reality of the modern shopper, and companies recognize the need for easy-to-use procurement platforms, the norm will begin to be sites like Jet.com and solutions like Vroozi.
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