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    Walmart launches Cyber ​​Week at Jason Derulo event

    Walmart + home screen for laptop computers in Brooklyn, New York, Wednesday, November 18, 2020.

    Gabby Jones | Bloomberg | Getty Images

    Walmart Is adding another tool to promote online sales this holiday season. Over 30 livestreaming events, including an event with musician Jason Derulo starting Cyber ​​Week.

    Over the past year, retail giants have been testing shoppingable events on various social media platforms. We held our first live stream last December. It had a holiday shop-together.. We invited influencers to host a spring beauty event on TikTok. Famous chef Ree Drummond talks about her pioneer woman’s cookware line and more. Facebook.. So far, there have been a total of 15 events.

    Now, Chief Marketing Officer William White said live events will be a bigger part of Wal-Mart’s digital strategy.

    “Given the number of live streams we do, the number of social commerce partners we have, we’re really expanding at this point,” he said in an interview with CNBC. He said retailers will increase frequency, but don’t keep in mind weekly or monthly numbers.

    White, big box rival graduate the goalHe said he sees the event as a way to strengthen the retailer’s brand, build emotional connections with shoppers, and “shorten the distance between inspiration and purchase.”

    He refused to share sales, but Wal-Mart said he saw high conversion rates, total play times, and social media followers at each event.

    For Wal-Mart, this strategy could help increase e-commerce sales. During the pandemic, retailers’ digital sales accelerated, but as more shoppers returned to the store, their growth rate slowed significantly. US e-commerce sales increased 79% for the fiscal year ended January 31st.

    However, in the last quarter, its growth rate has declined and was lower than expected. According to Refinitiv, Wal-Mart’s US e-commerce sales increased 8% year-over-year in the third quarter to an estimated 20.5%.It increased slightly from the second quarter 6% growth rate.

    However, in the two years, e-commerce growth in the United States has been significant.8% growth in the third quarter In addition to 79% growth in the year-ago quarter.. However, e-commerce has not yet become a profitable business for retailers, competing for sales with digital giants. Amazon..

    This is one of the factors that put pressure on Wal-Mart’s stock. This year’s stock price is at the closing price on Friday, S & P 500 31% growth this year.

    Livestreaming has become a promotional factor for Chinese retailers. Alibaba.. However, in the United States Macy’s-Owned Bloomingdale’s Petco Has become I’m trying to break the code and turn the event into a more meaningful part of the business. Amazon’s website has live events like QVC in rotation almost all the time.

    In the United States, the livestreaming market was worth about $ 6 billion last year, according to consumer market research group Coresight Research. The market is expected to exceed $ 25 billion by 2023.

    According to Coresight, these numbers have been dwarfed by China, with livestreaming increasing sales in 2020 from $ 63 billion in 2019 to an estimated $ 125 billion.

    Consumers attending Walmart’s live events can learn more about eyeshadow, sweaters and toys and quickly add them to their virtual shopping cart. Wal-Mart is looking for other ways to speed up the checkout experience, such as reducing the number of clicks it takes to see your favorite items when scrolling through social media apps, he said.

    “Inspiration can always be struck when people are in their social feed and the digital environment in which they live,” he said. “I want to make sure they don’t have any friction when shopping.”

    Wal-Mart has made other moves to make online purchases faster. We have integrated the two apps into one.that Signed a contract with media company Meredith In September to make more ads and content available for shopping. For example, if a consumer finds a compelling recipe on AllRecipes.com, they can click to add all the ingredients to their virtual grocery cart.

    The Wal-Mart event hosted by Deluro twitterThe first shoppable live stream of. The approximately 30-minute show begins Sunday at 7 pm Eastern Standard Time and focuses on gift items in a variety of categories, from apparel and seasonal decorations to electronics. Wal-Mart said it also includes special surprise guests.

    Wal-Mart will expand third-party markets to increase sales, provide faster delivery for online purchases, and facilitate grocery replenishment through curbside pickups. Chief Financial Officer Brett Biggs told CNBC that it added 21 million items to the third-party market in the third quarter. There is also a subscription service, Walmart +, which offers benefits such as fuel discounts and free delivery without a minimum purchase.

    -CNBC Lauren Thomas When Annie Palmer Contributed to this report.

    Walmart launches Cyber ​​Week at Jason Derulo event

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    The post Walmart launches Cyber ​​Week at Jason Derulo event appeared first on Eminetra.

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