As Walmart becomes a lifeline, online sales surged 74%

  • “Online sales in the U.S. jumped 74% for its fiscal first quarter that ended April 30, which captured the brunt of the pandemic’s outbreak. Same-store sales rose 10% at U.S. Walmart stores on strong sales of food, health and wellness goods.
  • Ken Perkins, president of research firm Retail Metrics, said he expects earnings will be down 36.6% for the 103 retailers he tracks compared to the year-ago period.”

https://www.google.com/amp/s/abcnews.go.com/amp/Business/wireStory/walmart-lifeline-online-sales-surged-74-70761025

AI’s role in retail

  • “Domino’s uses artificial intelligence to determine its pizza delivery times and, in Australia and New Zealand, to monitor quality. Sephora’s ColorIQ scans shoppers’ skin to provide custom recommendations for foundation and concealer. Walmart’s Intelligent Retail Lab is experimenting with a number of artificial intelligence tools.
  • ‘retailers — except for the top ones — are struggling to find talent for an internal team to bring that kind of data science on board. There is a great push to find solution providers with AI embedded. It basically democratizes the capabilities that AI brings to the table.’
  • ‘Yes, in the long run, Amazon would love to think that everyone is using Alexa to shop but that’s not the real endgame. All the other uses — the queries, the questions, checking the score in the game, the weather — all of that data can begin to inform Amazon’s strategy and choices. It’s not simply about order data but being privy to some of the most intimate queries that customers are making.’”

https://nrf.com/blog/ais-role-retail

Walmart reports lower-than-expected Q4 earnings, despite e-commerce sales growth of 35%

  • “That remained true in Q4, as e-commerce sales were up 35% with online grocery helping drive those increases.
  • However, in a quarter that’s all about boosting business by way of holiday shopping, it’s worth noting that Walmart’s e-commerce sales were up by 41% last quarter, more than the 35% in Q4.”

https://www.google.com/amp/s/techcrunch.com/2020/02/18/walmart-reports-lower-than-expected-q4-earnings-despite-e-commerce-sales-growth-of-35/amp/

Teikametrics Raises $15M Funding to Accelerate its AI-Powered Multi-Channel Optimization Solution

  • “Teikametrics uses its proprietary AI to automate and simplify decision making for over 3,000 emerging brands generating billions of dollars in sales on Amazon and Walmart. Its SaaS platform,
  • Teikametrics, a leading SaaS provider of AI-powered optimization for brands and sellers on Amazon and Walmart, announced the completion of a $15 million strategic funding round backed by new and existing investors.”

https://www.google.com/amp/s/www.martechadvisor.com/amp/news/machine-learning-ai/teikametrics-raises-15m-funding-to-accelerate-its-aipowered-multichannel-optimization-solution/

Walmart And Target Have Changed The Game For Amazon

  • “Same-day delivery is a new hot trend in retailing these days, according to a recent Elastic Path report, which finds that 75% of consumers expect, in the next 12 months, for  all brands to offer same-day delivery.
  • But at the same time, 72% expect curbside pickup in the same time frame.”

https://www.google.com/amp/s/www.forbes.com/sites/panosmourdoukoutas/2019/10/26/walmart-and-target-have-changed-the-game-for-amazon/amp/