Brief

Walmart CFO Biggs touts retailer's e-commerce build-up

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Notably, these comments came at an event that was held a few days before Walmart announced its latest e-commerce acquisition, the $310 million purchase of Bonobos, which had been long rumored. The retail giant is making a name for itself in e-commerce by becoming a holding company of sorts for smaller e-commerce retailers, and sector analysts aren't sure what to make of that strategy.

What is clear right now is that Walmart is continuing to push down that path, and doesn't seem at all worried whether or not people can see the stitches in the places where it is adding these acquisitions. In fact, some of Biggs comments suggest Walmart sees Bonobos, Jet, Moosejaw, ModCloth, etc, as innovation labs where Walmart can see what's evolving on the fringes of retail and perhaps adopt it for Walmart at its own pace.

Although, Walmart.com appears to be doing pretty well itself as an e-commerce operation. Increasing product selection from 10 million products to 50 million products over the course of a year is impressive, but Biggs was the first to point out that even that high-volume growth leaves Walmart behind some retailers, namely Amazon, which according to some sources had about 400 million products for sale at the beginning of this year.

More importantly, Walmart's first quarter earnings showed e-commerce sales were up 63%

 

Filed Under: Technology E-commerce Logistics
Top image credit: Flickr - Mike Mozart