Credit: Walmart
Walmart wants to sell more of its technology and services to other companies. On Thursday, it announced a deal with Salesforce to ramp up sales of its GoLocal delivery service, which drops off purchases at customers’ doors; and Store Assist, which helps employees more quickly and accurately pick and pack orders for curbside pickup and delivery. Starting this spring, the services will be offered through Salesforce and listed in its app store for businesses.
Total Retail’s Take: As retailers face an uncertain economic environment and a potential downturn in consumer spending, many are looking to add non-traditional revenue sources to their businesses, including launching retail media networks (RMNs) and licensing in-house technologies, such as the case with Walmart and its GoLocal and Store Assist services. Furthermore, Walmart is taking a similar approach of its chief rival, Amazon.com, which has licensed its cashier-less checkout technology, Just Walk Out, among other technology solutions. Diversifying revenue streams is a prudent move for Walmart given its historical reliance on brick-and-mortar store revenues, which may slow with a recession looming.
Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.
Total Retail is the go-to source for retailers looking for the latest news and analysis on the retail industry. Be sure to bookmark this helpful and relevant site: https://www.mytotalretail.com/
We at Board Retailers Association are here to help you to succeed by providing resources and programs that enable you to lower day to day costs, increase margins and create more remarkable customer experiences. We provide a voice for our Retail Members and will never share your information. BRA has been “protecting retailers and a lifestyle” for 20 years. If you are not yet a BRA Retail Member, you can easily opt in to either Regular (no cost) or Distinguished ($100/yr.) Membership via this super simple join form