Walmart to Acquire Volt and Strengthen Supply Management

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Walmart announced Friday, Aug. 5, that it is set to acquire technology company Volt Systems, with the purchase giving vendors greater visibility into merchandising resources.

The app provides store-level data, actionable analytics and shelf insights, enabling vendors to “plan, forecast and optimize product assortment,” the company said in a statement. Press release. It will also provide customers with a smoother shopping experience, aiming to reduce issues caused by out-of-stock items.

“The agreement confirms Walmart’s continued investment in technology and innovation that enables us to better anticipate customer demand,” Walmart said in its announcement. “We are acquiring Volt Systems outright, including the company, talent, technology and customer agreements.”

Walmart has undergone other changes lately, having recently cut 200 jobs from the company as it plans to refocus its business in new areas.

PYMNTS wrote that the company was “restructuring” its merchandising, global technology and real estate teams, although it was looking to create new roles in other areas deemed more profitable.

Read more: Walmart cuts corporate jobs and braces for slowing sales

The retailer also recently lowered its third-quarter and full-year sales and profit guidance as inflation continues to hit record highs and the broader economy faces numerous headwinds. .

Walmart tried to remedy the problem by cutting back on excess items, but as many consumers tried to cut back on spending, this move ultimately didn’t help much. The company was also the latest blue chip to cut payrolls, as tech giants like Microsoft and Facebook’s parent company Meta consider cutting their own hiring.

See also: Walmart-Owned Massmart Can’t Overcome Pandemic, Inflation and Other Hurdles

Additionally, Massmart, a South Africa-based Walmart subsidiary, is facing its own challenges, including restrictions and lockdowns related to the COVID outbreaks, as well as supply chain issues that have plagued businesses. of the whole world.

Mitchell Slape, the CEO of Massmart, was tasked with turning the retailer around in 2019 and has been at the helm throughout the pandemic.

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NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS HAVING HIGH DEMAND FOR SUPER APPS

About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.

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