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Walmart Brand Growth Leads to Canceling Online-Only Marketplace Jet.com

Walmart Brand Growth Leads to Canceling Online-Only Marketplace Jet.com


BENTONVILLE, AR
Wednesday, May 20th, 2020

Walmart’s Jet.com has been a large part of the retailer’s efforts to strengthen its digital presence, since its acquisition of the service for $3.3 billion in 2016. However, Walmart recently began canceling its Jet-powered grocery services in New York City and, now, Walmart will be ceasing its use of Jet.com entirely.

“Due to continued strength of the Walmart.com brand, the company will discontinue Jet.com,” the retailer said in a short statement. “The acquisition of Jet.com nearly four years ago was critical to accelerating our omnistrategy.”

Walmart announced in its most recent quarterly report that it has been working to close its Jet.com division entirely, which it acquired in 2016 for $3.3 billion

Walmart has long been working to up its e-commerce abilities; its two-hour delivery service pilot attested to this. The surge in people shopping online has also helped the retailer’s e-commerce sales spike. In fact, the newly released Q1 report noted that these sales were up 74 percent. The jump seems to align with the retailer's reiteration that it is preparing for further digital transformation.

What will be Walmart’s next move to push the innovation front in delivery? No matter the case, we at Deli Market News will be hot on the retailer’s trail.

Walmart
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