Offbeat Walmart has a new website for wealthy shoppers — here's what it's like

05:40  17 may  2018
05:40  17 may  2018 Source:   businessinsider.com

Walmart launches its Lord & Taylor site for upscale goods

  Walmart launches its Lord & Taylor site for upscale goods Both retailers are banking on their newly unveiled online partnership to expand their customer basesThe company is launching the Lord & Taylor store on its website in the coming weeks with more than 125 brands like Lucky Brand, Vince Camuto and Tommy Bahama, reflecting its effort to broaden its customer base, stimulate growth and compete with Amazon.

Since buying the website , Walmart ’ s e-commerce sales growth has soared. Walmart is adapting to the new omni- shopper . It ’ s like there was a palace coup… One day Tom and Mark are there; the next day it ’ s all Nick and Teeka.

It ’ s a statistical fact that wealthy shoppers rave about the pampering they receive at upscale retailers like Neiman Marcus, Lord & Taylor and Barneys. For myself, I have no much time to go to places like Walmart . As a lawyer, I work very had since I graduated from school. There are so many


Walmart is trying to lure wealthy shoppers to its website with a new online shop featuring upscale fashion brands sold by Lord & Taylor.

More than 125 brands will be available on the new section of Walmart's site, including Tommy Bahama, Vince Camuto, Lucky Brand, and H Halston, when it rolls out nationwide over the next couple weeks, executives from Walmart and Lord & Taylor said Tuesday.

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The move is part of an effort to bring in new , wealthier customers to Walmart ’ s website , which Walmart ' s U. S . e-commerce chief Marc Lore, also the founder of Jet.com, has said is a new priority. " Walmart ’ s shoppers have little in common with Lord and Taylor’ s shoppers ," Egelanian said.

The new service would be the latest in a series of moves by Walmart to draw wealthier shoppers as it looks to gain market share online. After purchasing Jet.com last year for billion, the retailer went on an acquisition spree, snatching up e-commerce companies, like MooseJaw, ModCloth, Shoebuy

Walmart is keeping the new shop separate from its existing merchandise. The retailer's new fashion landing page — which is part of its recent site upgrade — will soon offer shoppers two tabs: "everyday brands" and "premium brands."

The clothing that Walmart sells will live under the "everyday brands" tab, and the Lord & Taylor assortment will live under the "premium brands" tab. 

The price differences between the two tabs is significant.

Walmart.com's best-selling dresses cost between $9 and $20. Alternatively, some of the dresses on the "premium brands" site cost between $41 and $159.

Walmart and Lord & Taylor first announced their partnership in November. The companies have declined to talk about the financial terms of the deal, and until Tuesday, revealed few details about how the partnership would work.

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Walmart is offering lower prices in its stores than on its website for many items. Walmart has been rolling out a number of new ways for shoppers to save money this year, including free two-day shipping and a ship-to-store discount Here ' s How Wealthy Your Favorite Country Music Stars Are.

Wal - Mart has already tried to target wealthier shoppers , our experts all told us, with moves it made 10 years ago that included bringing design teams to New York City in an attempt to But Cohen believes that talk, like so many other things available at Wal - Mart , is cheap. “ It ’ s extraordinary difficult,” he says.

The new premium tab on Walmart.com is the latest in a series of moves by Walmart designed to target wealthy shoppers, which the retail giant has historically ignored in favor of customers at the opposite end of the income spectrum.

Over the last couple years, Walmart has pivoted to broaden its customer base by snatching up e-commerce companies that appeal to higher-income customers, including Jet, MooseJaw, ModCloth, Shoebuy, Bonobos, and Hayneedle. It has also rapidly expanded its online grocery service — a program that appeals to wealthier shoppers — with plans to make it available at more than 2,000 stores this year.

Walmart says it's responding to demand that's already present on its site. 

"We see Walmart customers searching online all the time for higher-end brands," said Denise Incandela, head of fashion for Walmart e-commerce.

Meanwhile Lord & Taylor, which is battling years of declining mall traffic, is hoping to get a sales boost through the new partnership.

When customers order items carried by Lord & Taylor on Walmart's website, the transaction will be completed by Walmart.com, but the order will be fulfilled by Lord & Taylor. 

"Overnight we will grow our digital footprint to reach exponentially more shoppers," said RJ Cilley, senior vice president of digital for Lord & Taylor. "This is a completely new model for us."

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