Time New York: Mon 18 Feb 08:56 am  |  Save 15% on H&R Block Online


Walmart Chalks Out Store Plans With Omnichannel in Focus


While expansion in the e-commerce space is the success mantra of most retailers, companies like Walmart Inc. WMT do not ignore the significance of the brick-and-mortar concept. This is evident from the company’s latest store-oriented moves. There were reports that the big-box retailer introduced a convenience store in Plano, TX and has plans rolled up its sleeves to renovate the North Tampa, FL store. These stores will offer technologically advanced and unique shopping solutions to consumers.

Advanced Store Concepts to Lure Consumers

Walmart maintains its popularity as an omnichannel retailer and explores opportunities to introduce smart and digitally compatible shopping tools across stores. Such moves help the stores adapt to changing retail trends, specifically consumers’ increasing inclination toward technology.

Progressing along such lines, Walmart has introduced a convenience store in Plano, which is equipped with eight fuel stations. Walmart Fuel Stations, already present in Arkansas and Crowley, are slowly gaining popularity and propelling the company to explore more venues for expansion. Going ahead, the company plans to open three more stores in Texas by the end of this year.

Also, this supermarket giant has intentions to refurbish one of its Tampa stores and introduce tech-forward features. These mainly include the addition of self-checkout lanes, pickup towers and easier signage. Per sources, such initiatives facilitate seamless shopping and offer consumers the convenience of technology for a better in-store experience. Notably, the company’s North Tampa store located in Bruce B. Downs Boulevard has already been renovated with such features. Markedly, Walmart plans to renovate close to 12 stores in the Tampa Bay area this year, as part of its $200-million Florida initiative.

Wrapping Up

Walmart’s dedicated endeavors to enhance brick-and-mortar stores keeps them on par with online sales. Indeed, such moves enable this world’s largest retailer’s stores to be a vital part of omnichannel retailing and establish connectivity between physical with virtual stores. Like Walmart, Amazon AMZN has also been ramping up in-store experience with features like Amazon Go. Well, such actions are likely to trigger more retailers to imbibe advanced and unique offering to drive traffic. That said, we expect Walmart, whose shares have gained 13.4% in the past year compared with the industry’s 14.5% rally, to come up with more exciting and unique offerings to spice things up in the retail realm. Walmart currently has a Zacks Rank #3 (Hold).

These Retail Stocks Might Also Interest You

Vera Bradley, Inc VRA, a Zacks Rank #1 (Strong Buy) company, delivered positive earnings surprises in the past four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.

Urban Outfitters, Inc URBN, with long-term earnings per share growth rate of 12%, also flaunts a Zacks Rank #1.

5 Medical Stocks to Buy Now

Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.

New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.

Click here to see the 5 stocks >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.