From The Wall Street Journal:
Wal-Mart Stores Inc. U.S. e-commerce chief Marc Lore said the online retail division is still in growth mode, the fruits of which will start paying off over the next two years and help it better compete with Amazon.com Inc.
“E-commerce is a scale game,” Mr. Lore said in an interview at The Wall Street Journal’s WSJ D.Live technology conference on Tuesday. “We’re looking at a lot of different things right now, everything, in every sector.”
Wal-Mart has been on an acquisition spree in the past year since it acquired Mr. Lore’s startup Jet.com for $3.3 billion and put Mr. Lore in charge of its U.S. e-commerce business. Wal-Mart has snapped up a string of trendy e-commerce startups, including clothing sites Bonobos and ModCloth, as it tries to gain a foothold with consumers who have previously shied away from shopping on its own website.
Wal-Mart trails rival Amazon in online market share, but Mr. Lore said Wal-Mart’s built-in network of thousands of stores can serve as hubs for online orders and distribution. Mr. Lore said Wal-Mart has a “second-mover advantage.”
The Bentonville, Ark.-based retailer is working on a new design for its e-commerce site and better deliveries so it can get goods to more consumers in less than two hours or overnight — a cornerstone of Amazon’s pitch.
Link to the rest at The Wall Street Journal
PG says Wal-Mart should hope that there is a “hundredth-mover advantage” in e-commerce. It has relaunched its e-commerce business almost annually for the last ten years or more and still hasn’t gotten it right.