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Walmart (WMT) To Host Livestream Shopping Event With TikTok

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Walmart Inc. (WMT - Free Report) is focused on undertaking innovations to create appealing experiences for its customers. In this regard, the company announced its partnership with TikTok to host an hour-long livestream event today – Dec 18, 2020. This will enable the TikTok community to purchase Walmart fashion items. Notably, users can shop products featured by 10 TikTok creators in the livestream without having to leave the platform.  

Walmart will be showcasing national brands such as Champion, Jordache, Kendall + Kylie in the event. Along with these, a number of private brands like Free Assembly, Scoop and Sofia Jeans will be featured in the livestream. Impressively, this livestream — Holiday Shop-Along Spectacular — will mark the first time that TikTok will host a shoppable livestream in the United States.

Walmart believes that the livestream event will grant a new way to interact with users, while reaching potential consumers. Moreover, the livestream will provide users with a distinguished shopping experience.

What Else is Driving Walmart’s Growth?

Walmart’s e-commerce business and omni-channel penetration have been increasing, all the more amid the pandemic-led social distancing. Further, management expects these trends to stay even after the crisis dissipates. During third-quarter fiscal 2021 earnings call, the company stated that it has doubled the U.S. store associate count this year that are supporting its digital and omnichannel efforts. Certainly, Walmart’s combination of robust store network and growing digital capacity is likely to keep it in good shape.


 

 

The company has long been trying every means to evolve with changing consumer environment and stay firm amid the growing competition from Amazon (AMZN - Free Report) . In this regard, Walmart is undertaking several e-commerce initiatives, including buyouts, alliances as well as improved delivery and payment systems. During fiscal third quarter, Walmart unveiled an additional investment in India’s Ninjacart — fresh produce supply chain company. Walmart is undertaking aggressive efforts to expand in the booming online grocery space, which has long been a major contributor to e-commerce sales.

Given the rising demand for online grocery, Walmart is committed to enrich consumers’ experiences by providing easy shopping methods and seamless grocery deliveries. In fiscal third quarter, Walmart took robust strides to strengthen its delivery arm, as evident from its launch of Walmart+ membership program; drone delivery pilots in the United States with Flytrex, Zipline and DroneUp; and a pilot with Cruise to test grocery delivery through self-driven all-electric cars. Moreover, the company’s curbside pickup options add to customers’ convenience.

We note that the Zacks Rank #3 (Hold) stock has gained 23% so far this year compared with the industry’s growth of 20.8%.

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