Walmart decides to shut down

Wednesday 20 May 2020 12:29 CET | News

Walmart is shutting down, the online shopping site it bought in 2016 for USD 3 billion as part of its attempts to better compete with rival Amazon online. 

Walmart’s decision to shut down is due to the ‘continued strength of the brand’. The company mentioned that the Jet acquisition in 2016 was critical to accelerate their omni strategy. However, it never really took off for Walmart as it needed to be, despite various reorganisations, a 2018 pivot to a focus on same-day local delivery, and spinoff personal shopping service. 

The company has seen a big boost in online spending. Walmart’s ecommerce business is up 74% compared to Q1 2019, with the company citing increased demand for grocery pickup and delivery services due to the COVID-19 pandemic.

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Keywords: Walmart, JET, ecommerce, delivery, geolocation, online shopping, grocery, pickup, COVID-19, online spending
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce