Wal-Mart is getting serious about catching up with Amazon. Very serious, forging the right partnerships and amassing the right talent and resources to compete effectively against the e-commerce leader. That would mean the eventual elimination of the last standing neighborhood store.
Wal-Mart has a reputation for paying very little compensation—barely above minimum wage — to its low-skill floor employees. But it pays big bucks to recruit and retain talent for its eCommerce division, where starting salaries can be as high as $149,000 a year, according to a recent Glassdoor survey.
That places Wal-Mart on the list of the 25 highest paying companies in America in 2016, close to its on-line competitor, Amazon.com.
In the meantime, the company has been acquiring online retailers, search technologies and building warehouses. This week, for instance, Wal-Mart acquired Jet.com, Inc, which will help the company expand the foundation already in place to serve customers across the Wal-Mart app, site and stores.
“We’re looking for ways to lower prices, broaden our assortment and offer the simplest, easiest shopping experience because that’s what our customers want,” said Doug McMillon, president and CEO, Wal-Mart Stores, Inc. “We believe the acquisition of Jet accelerates our progress across these priorities. Walmart.com will grow faster, the seamless shopping experience we’re pursuing will happen quicker, and we’ll enable the Jet brand to be even more successful in a shorter period of time. Our customers will win. It’s another jolt of entrepreneurial spirit being injected into Walmart.”
Back in 2013, Wal-Mart acquired @WalmartLabs, an e-commerce technology arm, and acquired a number of start-ups — Torbit, a cloud-based website accelerator service; Inkiru, a predictive intelligence platform; OneOps, a cloud based automation technology; Tasty Labs; and Adchemy, a search engine marketer.