Walmart has announced plans to acquire Bonobos, a men’s clothing retailer, for $310 million. You may have missed this news due to Amazon’s high-profile disclosure of its intent to purchase Whole Foods in a deal valued at $13.7 billion. These announcements continue to fuel the increasingly competitive retail and grocery wars.
From big box behemoth to e-commerce rival
Someone has poked the bear because Walmart — formerly known as a brand with a yellow smiley face and a poor (at best) in-store experience — is consistently purchasing innovative, streamlined brands to stake a bold claim in the e-commerce world.
The retailer plans to sell Bonobos clothing on Jet.com, another acquisition that Walmart made for $3 billion to accelerate e-commerce growth.
The strategy must be working because Walmart’s e-commerce sales grew by 63% last quarter.
It’s nearly impossible to keep up with all of the changes, so here’s a look at Walmart’s big moves in the e-commerce space.
Walmart’s e-commerce timeline
- 2000: Walmart.com launches
- 2007: Walmart.com launches Site to Store service, enabling customers to make a purchase online and pick up merchandise in stores
- September 2016: Walmart acquires Jet.com
- January 2017: Walmart announces free two-day shipping
- February 2017: Walmart acquires Moosejaw, an outdoor retailer, for $51 million
- March 2017: Walmart acquires ModCloth, an online women’s fashion retailer
- June 2017: Walmart launches kiosks for quick and easy pickup
- June 2017: Walmart announces plans to acquire Bonobos
So what’s next? While the Amazon purchase of Whole Foods isn’t final yet, the e-commerce giant is already hinting at possible changes like cutting costs to lower prices.
Nonetheless, this retail showdown will be a battle for your dollar and, hopefully, your wallet will win the war with lower prices and a better shopping experience!