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Walmart closing innovation hub/Store 8
Posted: January 20th, 2024, 7:56 am
by Romr123
Re: Walmart closing innovation hub/Store 8
Posted: January 20th, 2024, 8:43 am
by buckguy
It had its own website
https://www.storeno8.com/ and social media
https://twitter.com/storeno8?lang=en. It looks like they actually started giving up in 2022 (copyright on the website and only Twitter entry).
It was based in Hoboken NJ with offices in LA and Silicon Valley. The head of the unit left with the closing.
The articles I could find focused on this unit doing AI, VR, etc. I'm guessing it did not produce enough ideas that could be quickly translated to the stores, which is not surprising. This sort of operation would be a bad fit with Walmart's overall model, although it probably consumed pocket change relative to their bigger operation. I wonder if this is a prelude to reporting a weak quarter or perhaps a "humble brag" (not doing as badly as we thought) which they did last year.
Re: Walmart closing innovation hub/Store 8
Posted: January 20th, 2024, 12:25 pm
by storewanderer
This initiative never seemed like a good fit for what Wal Mart is.
How did it interact and align with the overall Wal Mart operation?
What programs or initiatives did it come up with that got rolled out to the larger Wal Mart operation?
Does the average Wal Mart customer even care about the type of stuff this group appeared to be working on?
This was one of those reach initiatives. It didn't fit Wal Mart but they somehow thought they needed it in order to reach a different audience.
But Wal Mart is Wal Mart and it needs to stick to what it does well and what its customers expect of it. Not trying to be something it isn't.
I expect price increases will save both them and Target for the quarter. Both have done a lot of price hikes since the 2022 holiday season.
Re: Walmart closing innovation hub/Store 8
Posted: January 20th, 2024, 2:05 pm
by veteran+
storewanderer wrote: ↑January 20th, 2024, 12:25 pm
This initiative never seemed like a good fit for what Wal Mart is.
How did it interact and align with the overall Wal Mart operation?
What programs or initiatives did it come up with that got rolled out to the larger Wal Mart operation?
Does the average Wal Mart customer even care about the type of stuff this group appeared to be working on?
This was one of those reach initiatives. It didn't fit Wal Mart but they somehow thought they needed it in order to reach a different audience.
But Wal Mart is Wal Mart and it needs to stick to what it does well and what its customers expect of it. Not trying to be something it isn't.
I expect price increases will save both them and Target for the quarter. Both have done a lot of price hikes since the 2022 holiday season.
Exactly!