Back to top

Image: Bigstock

Walmart (WMT) Cheers Customers Again, Strikes Deal With Ibotta

Read MoreHide Full Article

Walmart Inc. (WMT - Free Report) is leaving no stone unturned with regard to enhancing consumers’ experience through better delivery services, solid assortments, easy payment options, compelling pricing and lucrative offers. Incidentally, the omnichannel retailer unveiled a strategic deal with Ibotta, to introduce a new digital offers program on its site, Walmart.com, as well as the Walmart app.  

This will give its customers access to loads of cash refunds on popular products, which along with the company’s already compelling prices is likely to add to their savings. Notably, the refunds will be directly transferred to customers’ Walmart accounts and can be used for future shopping; Walmart+ membership; or grocery delivery, among other things.

Well, Ibotta is a cashback rewards platform in the United States, which will provide Walmart shoppers a range of unparalleled digital offers. As part of the abovementioned deal, Walmart will also join the Ibotta Performance Network (IPN), which is the first digital network that facilitates a coordinated cash refund process across huge third-party sites such as social media platforms and recipe sites, to name a few.

Zacks Investment ResearchImage Source: Zacks Investment Research

Other Customer-Friendly Moves

In another press release, Walmart unveiled the launch of a private-brand analog insulin, which is the first of its kind. This accessible and affordable option will be helpful for diabetic patients, as they will be able to generate considerable price savings. The product, which will be offered through Walmart’s ReliOn brand exclusively, will include analog insulin vials and FlexPens. The new insulin product will be available in Walmart’s pharmacies this week, while it will hit Sam’s Club pharmacies in mid-July in the United States.

Certainly, Walmart is focused on enhancing every experience of its customers, including health and wellness. Last week, this supermarket giant announced plans to expand and extend its association with a well-known provider of cloud-based platforms in the healthcare space, Inovalon (INOV - Free Report) . Per the deal, management will extend its association with Inovalon till 2028 while broadening the use of ScriptMed Cloud to enhance the clinical care management of complex patients of Walmart’s retail pharmacies across the country. Further, the company will introduce more cutting-edge Inovalon ONE Platform functionality.

In 2020, the initial partnership between the parties was formed with the introduction of Inovalon’s ScriptMed Cloud offering. We note that Walmart utilizes Inovalon’s cloud-based abilities via the Inovalon ONE Platform across its pharmacies nationwide under the data-driven strategy. This helps the retailer enhance the outcomes and economics of its customers. Another move undertaken by Walmart in the health and wellness realm was the addition of Walmart+ Rx for less to its Walmart+ membership program. This will help members get incremental savings on the commonly prescribed medications for allergies, antibiotics, heart health, mental health and diabetes management, among others.

Clearly, the Walmart+ Rx for less program is likely to be a solid addition to the Walmart+ program, thereby enhancing its benefits. Incidentally, the other benefits offered by the Walmart+ program include unlimited free delivery of more than 160,000 items from the company’s stores, no shipping minimum for orders placed online, Scan & Go options and fuel discounts at roughly 2,000 Walmart, Sam’s Club, Murphy USA and Murphy Express fuel stations.

Wrapping Up

Robust efforts to enrich customers’ experience have been helping this Zacks Rank #2 (Buy) company stay on firm grounds. Constant efforts to up its store as well as online game have been helping Walmart stay well placed amid the rising competition from Amazon (AMZN - Free Report) . Talking of e-commerce initiatives, Walmart has undertaken numerous buyouts and alliances and improved delivery and payment systems. On May 13, 2021, the company unveiled plans to acquire Zeekit, which is focused on uniting fashion and technology via its virtual fitting room platform. Apart from these, the company’s contracts with Goldman Sachs (GS - Free Report) , Shopify and Microsoft; investment in India’s Ninjacart; buyouts of ShoeBuy, Moosejaw and Bonobos, among others, underscore its intention to build an impressive digital brand portfolio.

Shares of the company have rallied 16.5% in the past year compared with the industry’s growth of 16.1%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Bitcoin, Like the Internet Itself, Could Change Everything

Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.

Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.

See 3 crypto-related stocks now >>