Walmart’s Jet.com targets younger shoppers with new brand
Thursday, October 19, 2017
Do millennials shop differently? Walmart’s Jet.com thinks they do. That is why it is all set to launch the grocery brand Uniquely J for "everyday essentials."
The brand’s focus is on younger shoppers who like edgier and bolder packaging. Millennials are keen to buy quality products that are local and clean, and Uniquely J’s products will display transparent labeling and product sourcing details.
Walmart’s acquisition of Jet created a wave of speculation in the industry and spawned questions about how it will take on the Amazon-Whole Foods juggernaut.
The new brand launch answers those questions to a large extent. Geared towards the younger demographic, this new launch may be the secret sauce for Walmart’s success and longevity.
The company hasn’t yet offered details of logistics partnerships and competitive deals to be offered. But it is quite clear that they will be competing against next-day services like Amazon Prime Pantry or Target Restock.
Retailers across the board are finding it hard to beat Amazon. Walmart, with close to 5,000 stores and physical proximity to 90 percent of Americans, has the best chance to do so, and is probably the only company Amazon-Whole Foods has to worry about. The latest studies show that Walmart is growing at 40 percent in e-commerce, much faster than Amazon's 22 percent.
Additionally, the acquisition of Jet.com has helped Walmart.com expand its product base from 15 to 60 million products in a year. The impediments that once blocked its online growth are clearing.
Walmart has put resources behind experiments like giant vending machines for straight-to-fridge deliveries and store pick-ups. Earlier this year, Jet opened a grocery storefront in New York, albeit temporarily.
These sound more like a modern-day entrepreneurial experiment rather than a traditional brick-and-mortar store whose best days have passed.
According to Walmart head of e-commerce Marc Lore, that’s exactly what it is. He commented that working for the large brand feels just like working for a startup. That "startup" is aiming its sights squarely on Amazon-Whole Foods with its new strategy towards millennials.
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