Today In Retail: Walmart Expands Advertising Offerings, Neiman Marcus Group To Invest In Supply Chain
In today’s top retail news, Walmart unveiled an extended purview and a new brand for its media business, while Neiman Marcus Group is investing in its supply chain. Plus, Walmart has chosen to bolster the number of stores that will also function as local fulfillment centers.
Walmart has revealed an expanded purview and a new brand for its media business, which was called Walmart Media Group in the past and is now known as Walmart Connect. The company said the new brand shows the company’s capacity to strengthen the connection between firms and its 150 million weekly shoppers.
Neiman Marcus Group is putting resources toward its supply chain, technology, merchandising and staff, which it says will reshape the shopper experience at Neiman Marcus and Bergdorf Goodman. The company is investing $85 million gross in its supply chain, particularly systems and fulfillment centers. It is also installing a new warehouse system and order management system.
Walmart has opted to boost the number of stores that will also function as local fulfillment hubs. “Our customers love the speed and convenience of pickup and delivery, and we’re committed to finding faster ways to serve them,” Tom Ward, Walmart’s senior vice president of customer product, said in a news release.
PYMNTS continues to document how last year’s digital shift continues to shape consumers’ spend and sentiments. “54 percent of U.K. consumers now prefer wholly in-store shopping experiences. The rest are more inclined toward digital-native shopping experiences in which they shop online and have products delivered to their homes,” according to the January 2021 Global Digital Shopping Index: United Kingdom Edition.