Walmart sees future in “crowd sourcing”

Walmart sees future in “crowd sourcing”

The American distributor Walmart believes firmly in the potential of crowdsourcing, where customers have their say in the purchase policy. “Our customers are in control today”, says Joel Anderson, CEO of Walmart.com, and that is not necessarily a disadvantage…

Over 5,000 submissions

Last year Walmart organised the “Get on the Shelf”-competition for the first time, where the chain asked entrepreneurs and inventors to send in a short video of their product. Customers could vote and the chain committed to selling the products with the most votes at hundreds of locations.

 

The contest was an instant success: Walmart received more than 5,000 entries. Human Kind Water, drinking water where proceeds go completely to charity; SnapIt, a repair kit for glasses, and PlateTopper, a lid that can transform any plate into a kind of Tupperware, were the laureates of the first competition. All three have now been integrated in the assortment of the chain.

 

Repeat and expansion following huge success

“Walmart’s initiative, which got more than 5,000 submissions, has encouraged the company to have another go this year”, said Joel Anderson to MarketWatch. “We realized we need to connect with customers differently.”

 

“Our customers are in control today. One of the things they said is they want a voice in what products we carry…” And thanks to crowd sourcing the chain not only gets handed some new ideas, but it can also see how much customers are in need of the product.

 

Anderson does not want to give sales figures for the three winning products, but Walmart has decided to keep the products in the assortment for longer and the group is also starting a similar competition in China, which probably proof there is some future in crowd sourcing.

Questions or comments? Please feel free to contact the editors


Beate Uhse files for insolvency

15/12/2017

German erotic company Beate Uhse filed for insolvency. It struggled to keep its turnover under control in a digital world. Its stores will remain open for the time being. 

Colruyt Group: turnover grows, profit drops

12/12/2017

Colruyt Group’s six-month results clearly show that the increased competition in the Belgian food retail industry is weighing the company down. It is still highly competitive, but its margins are dwindling.

EU needs to lead in fight against protectionism

08/12/2017

(Content provided by EuroCommerce) On the occasion of the European Trade Policy Day today, EuroCommerce urges the European Union to fight against the growing protectionist tendencies everywhere.

Hema returns to profitability

07/12/2017

Hema has become profitable again: after improved net losses in the past quarters, the Dutch chain has managed to become profitable again in the third quarter.

Huge third quarter loss for Hudson’s Bay

07/12/2017

Canadian Hudson’s Bay suffered a huge loss in its third quarter of 2017. Its turnover also slumped compared to the year before.

Hema opens first Belgian flagship stores based on international formula

06/12/2017

Dutch Hema has opened its first Belgian flagship store in Brussels, based on its international store formula. It will open a similar store in Antwerp by the end of the week.

Back to top