Walmart Takes On Amazon In E-Commerce
Late to the online consumer market, the retail giant is expanding its web presence to challenge the online shopping king.
In terms of sheer revenue and size, it’s hard to challenge Walmart when it comes to retail (an expected $500 billion in revenue this year). However, in the growing online marketplace Walmart is still playing catch-up.
As difficult as it is to believe, Walmart is still learning e-commerce as they prepare to challenge the online retail king, Amazon. To gain some leverage, Walmart has established @WalmartLabs at Walmart Global E-Commerce in California.
@WalmartLabs is Walmart’s primary attempt to challenge cool tech companies – Amazon, YouTube, etc. – for online business and technology talent. To do so successfully, they’ve taken a page out of everyone else’s books: cool workspaces (treadmill workstations and foosball tables), company hack days for engineers to pursue their own interests, and acquisition of pioneering startups (Torbit, OneOps, Tasty Labs, and Inkiru) that can enhance their ability to crunch data and increase web speed. (The added bonus of smaller acquisitions is that talent, i.e. the startup founders and engineers, can be hired on to continue growing the Walmart brand digitally.)