Source: The Wall Street Journal
To better compete with Amazon and other growing online retailers, Walmart has announced that it will buy another online retailer Jet.com for $3.3 billion. Jet.com is only a little over a year old - it was launched in July last year - and initially, their plan was to offer largely discounted and lowest-priced items via subscription baskets, but that idea was short lived as the strategy was eliminated just three months after its debut.
Walmart Chief Executive Doug McMillion told Time Money that the company is seeking to lower their prices and increase their selection of items, all while offering the most consumer-friendly experience for their shoppers. Walmart and Jet.com will work independently of each other, but their partnership will allow both companies to optimize their tools for the development of new and better shopping opportunities.
What are your thoughts on this new partnership? Is it enough for you to make the switch from Amazon to Walmart and Jet.com? Let us know in the comments below!