Walmart saw its online sales increase 74 % during the coronavirus crisis, resulting in comparable sales growth of 10 %. Still, the American retail giant has decided to shut down its online branch Jet.com.
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Jet.com, part of department store chain Walmart’s group, opened a pop-up store in New York, specifically for groceries, at concept store Story.
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Walmart has acquired online fashion retailer Modcloth, known for its vintage-inspired collections over the past fifteen years. It will now be integrated with Jet.com, with which the company wants to compete with Amazon.
American retail chain Walmart has just acquired online shoe retailer ShoeBuy to help its other recent acquisition, Jet.com, gain a foothold in the online struggle against competitor Amazon. ShoeBuy in itself is also a rival to Amazon's Zappos.
Walmart reached a deal to acquire online retailer Jet.com, a deal that had been lingering for a few days but has now been officially announced. Walmart will pay 3.3 billion dollars (3 billion euro) to acquire the company.
American supermarket chain Walmart is allegedly interested in web shop Jet.com, which would mark a huge step in Walmart's efforts to compete with Amazon even more.