Where do you go when you need just about anything for the cheapest price possible? Wal-Mart.
Wal-Mart is known for having the best deals on numerous types of items. School supplies, electronics, kitchen appliances; you name it and Wal-Mart will probably have it. Wal-Mart is a place people go when they want to graze around and see what deals they can find.
Some people may go to Wal-Mart having an idea of what they want to get, but with such a selection that may change. When many choose to shop at Walmart they most likely will drive to the store location instead of shopping through their online store. Most don’t even realize that you can order from Walmart online. Did you?
With such a big store presence, the need to buy their stuff online is almost irrelevant. And with the selection being so wide, sorting through everything on a computer can be overwhelming. The problem with this is with today’s society much of shopping is now done online. So if Wal-Mart does not have a big online credit how do they expect to compete with places who do? Turns out that is the million-dollar question that Wal-Mart is trying to answer.
One top competitor Wal-Mart has right now Amazon.com. Amazon is only online and you can find just about anything for a cheap and convenient price. Wow kind of sounds like Walmart, huh? To get back in the competition, Wal-Mart has thought of a way to increase online presence; through the selling of clothing.
Wal-Mart has recently just put in a bid to buy online clothing retailer Bonobos. This brand started as an online-only retailer selling just dress pants for men but then expanding to shorts and colorful shirts. If Wal-Mart acquires Bonobo, it could recover ground the company has lost to the online fashion world. Moving in to the fashion scene could also increase customer range too younger consumers who do not regularly shop at Wal-Mart.
With this purchase, it would be Wal-Mart’s fourth attainment of a small online clothing company since the beginning of this year. Wal-Mart has always done good at its base stores by being one of the largest clothing retailers in that sense, but cannot duplicate the same victory online. Wal-Mart’s online sales are only about three present of all their total sales. Their problem is attracting that younger age group who does the online shopping.
Wal-Mart is planning to hit all the different spectrums of clothing styles with the different online brands they have purchased. So far their brands are a combination of footwear, outdoor wear, and women’s clothing.
They are continuing to look for more businesses to continuously grow their online fashion presence. Wal-Mart is doing all it can to aid the loss it has faced in this market thanks to Amazon and their highly competitive online fashion sector. Amazon is the number one seller of the online clothing market in the U.S. and is expected to triple its shares in the next few years. Other retail sores such as Cap Inc., J.C. Penney, and Macy’s Inc. also lead in the online fashion spectrum.
Why the sudden switch in Wal-Mart to want to get in to the online fashion scene. Well, it may seem like this is a sudden switch for Wal-Mart, but they have actually been trying to brake in to this business for quite some time. Past efforts have gone down hill rapidly and this time Wal-Mart is using more strategy to make sure they do have history repeat itself.
So can Wal-Mart compete with top retailers in the online clothing world? They have been investing numerous amounts of money into this business venture over the past decade to make sure that this new market does not hurt their business they have built. Wal-Mart plans to keep buying more e-commerce brands with the hopes to soon be seen as a competitor in this market.
Next time you’re in the mood to do some online shopping, be sure to check out what Wal-Mart has to offer.