Published: Wed, October 11, 2017
Economy | By Guillermo Lane

How Walmart Is Speeding up its Online Shopping Experience

How Walmart Is Speeding up its Online Shopping Experience

The retailer also says that it will be adding 1,000 additional online grocery locations in the U.S.in fiscal 2019.

At its annual investor meeting in Bentonville, Ark., Walmart President and CEO Doug McMillon provided an update on how exactly the company is uniquely positioned to win.

The company said in a statement that refunds will be given to customers as soon as the next day.

United States retail giant #Walmart is getting some big changes this year.

NEW YORK-Wal-Mart Stores Inc. expects US e-commerce sales to surge 40 per cent in the next fiscal year as its online investments allow the retail giant to play catch-up with Amazon.com Inc.

The service, called mobile express returns, builds on Wal-Mart's previous creation of express lanes for its in-store pharmacy and money services areas.

The improvement has been designed with Wal-Mart's overall strategy of boosting its ecommerce presence in mind, with the idea that simplifying returns procedures will make customers more inclined to shop online.

Beginning in November, customers can start a return process on the Walmart app prior to brining in items they are returning to any of the company's 4,700 stores. Items eligible for the instant return credit, without bringing the products back, include shampoo and some cosmetics. Nearly one-third of items ordered online are returned, compared with just 8 percent of things bought in physical stores, according to Optoro Inc., which works for Wal-Mart's e-commerce unit Jet.com to process returns. But store purchases are in the plan and will be activated by early 2018.

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Returning something you purchased is never easy.

The returns process, which the company estimates will take 35 seconds or less, can be completed across Walmart's more than 4,700 locations. Each returned item can either be returned for a refund or exchanged.

Walmart has emphasized ecommerce growth in recent years amid a challenging brick-and-mortar retail environment and stiff competition from Amazon and other digital retailers.

The company has been increasing its e-commerce efforts recently.

In the summer, the group had reported that online sales had surged a whopping 60% during the second quarter.

This is the third Mobile Express offering announced this year by Walmart and comes at a time when the retailer is doubling-down on innovation within the app to deliver a more integrated shopping experience. But the new system will feature more improved process that will work much faster and easier than the previous one.

Costco announced last week that it has launched two grocery delivery services. Wall Street analysts, on average, are forecasting the company's EPS to be 0.97, compared to 0.98 reported in the same quarter previous year.

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