Walmart turns up the heat on Amazon rivalry

Wal-Mart promises 30-second returns in stores as Amazon tries to catch

Wal-Mart promises 30-second returns in stores as Amazon tries to catch

Walmart's Mobile Express Returns arrives soon after online retailer Amazon reached a deal with retailer Kohl's in which around 80 Kohl's locations would be able to handle returns for Amazon. Chances are you're still there.

Wal-Mart Stores Inc on Tuesday forecast a 40 percent rise in US online sales next year as it ramps up competition with Amazon.com Inc, boosting shares of world's biggest brick-and-mortar retailer to the highest in more than two years. The program allows customers to use the retailer's app to initiate a return, completing the process by dropping the item off at any store's Mobile Express Lane and scanning the app's QR code. Customers bring unwanted items to any Walmart store and scan a barcode with their phone.

The tool will officially roll out in November, and the company plans to expand it to returns of store purchases starting next year.

In the US, the company said it would open less than 15 Supercenters and fewer than 10 Neighborhood Markets in 2019. Nearly one-third of items ordered online are returned, compared with just 8 percent of things bought in physical stores, according to Optoro Inc., which works for Wal-Mart's e-commerce unit Jet.com to process returns.

Walmart also announced that it was offering online grocery pickup and free two-day shipping.

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According to Daniel Eckert, senior vice president of Wal-Mart Services and Digital Acceleration, the system is meant to cut the average processing time for online returns from five minutes to 30 seconds since time has increasingly become the new currency in retail. They are also now looking into applying the same process to third-party sellers on the Walmart website.

The improvement has been designed with Wal-Mart's overall strategy of boosting its ecommerce presence in mind, with the idea that simplifying returns procedures will make customers more inclined to shop online.

An American Multinational retailing corporation Walmart has come up with the faster as well as simple returns process, unlike the other retail.

In September, Walmart announced it is testing a service that delivers groceries straight to customers' fridges when they're not home.

Amazon's $13.7 billion purchase of Whole Foods earlier this year was, in part, to give the company some storefront real estate.

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