Walmart (WMT) Chases $360B Gen Z Spend With New Immersive Online Stores
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The shopfronts are part of its Walmart Realm initiative aimed at capturing the attention of Generation Z and Alpha youngsters.
Virtual Reality
It was launched in 2024 to produce virtual reality-inspired environments, influencer curation and gamified experiences to make the experience of shopping online more interactive.
'Walmart Realm connected millions of younger shoppers with creator-curated products, interactive mini-games, and trend-driven storytelling through this emerging medium,' said Justin Breton, head of brand partnerships and emerging experiences at Walmart.
He added that the immersive storefronts included the 'vibrant K-POP Era, followed by Lo-Fi Playing, Rodeo Dreams, Nature Breaks, and Group Woosah.'
To some people these might sound like a selection of Country and Western albums from the 1980s, but not it is hoped for those under the age of 30.
The names are associated with different themes of online stores, with K-POP Era, for example, focused on K-Pop fans with features including exclusive merchandise, interactive mini-games, and products curated by creators related to K-pop aesthetics.
Walmart Delivers
The move supports Walmart Delivers, the mobile pop-up stores, which include photo booths, customizable giveaways, and interactive zones. As an example of this, on 2 September, the Walmart Delivers K-POP pop-up will be at the BABYMONSTER concert in Chicago.
It also comes as Walmart announced in its Q1 results that it had achieved profitability in its eCommerce business on both a U.S. and global enterprise basis.
Generation Z is quite the target for Walmart given that it commands more than $360 billion in spending power in the U.S. alone. According to Walmart's data, 47% of Gen Z are engaging in immersive digital experiences, with 70% of younger consumers preferring fun shopping experiences.
This fits into one of Walmart's key risks, which is the ability to sell its products to customers, including those from a range of backgrounds and ages.
'We are transforming us into a go-to destination for premium, trend-driven products that meet customers where they are,' Breton continued. 'And no matter what they're into… We get it, we have it, and we can deliver it. Who knew?'
Is WMT a Good Stock to Buy Now?
On TipRanks, WMT has a Strong Buy consensus based on 29 Buy ratings. Its highest price target is $130. WMT stock's consensus price target is $112.15, implying a 7.7% upside.
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