Walmart ratchet’s up ecommerce efforts
Walmart, the world’s largest retailer, is ratcheting up its efforts in the ecommerce space after its online operations head Marc Lore began expanding its online business throughout the US by integrating elements of the business with Jet.com.
Walmart ratchet’s up ecommerce efforts
The move cements a $3.3bn takeover of the e-tailer last September as Walmart seeks to reduce prices and streamline its digital operations in a bid to dethrone Amazon in the online space.
Having co-founded the online marketplace Lore was made head of online operations at Walmart following its purchase whereupon he has introduced a new management structure geared toward prioritizing data analytics and shared product purchasing. In doing so Walmart will combine its network of warehouses and distribution centres with those of its online arms.
This strategy will knit together disjointed brands such as furnishings specialist Hayneedle and Shoebuy.com to eliminate costly overlaps.
Lore wrote: “Our strategy is about offering more choice, competitive prices — particularly on food and consumables — and operating on the strength of the world’s most efficient ecommerce supply chain. We’ve also talked about building a simpler organisation that enables us to work faster and smarter.”
As part of this restructuring Walmart has announced that it will lay-off a thousand corporate posts by the end of the current financial year.