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Walmart Looking to Perform Online Purchase Returns in 35 Seconds

10 October 2017
Walmart Looking to Perform Online Purchase Returns in 35 Seconds

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. They can generate QR code for the transaction, and return or exchange the particular item into the physical Walmart store quickly.

Starting in November, customers seeking returns for online purchases will be able to start the process on the Walmart app. More interesting news about Wal-Mart Stores Inc (NYSE:WMT) were released by: Businesswire.com and their article: "Wal-Mart Stores, Inc.to Webcast 2017 Meeting for the Investment Community" published on October 03, 2017 as well as Businessinsider.com's news article titled: "One year later, Walmart's biggest acquisition is proving naysayers wrong" with publication date: October 04, 2017.

Three months ago, on the other hand, the average analyst rating for Wal-Mart Stores, Inc. The major benefit here is customers returning online orders won't have to wait days before they get their refund.

The technology behind the Walmart Pay has been designed basically to speed up the returns in-store for which the company is offering mobile payment. But the discount retailer is on a mission to slash that to 30 seconds, said Daniel Eckert, senior vice president of Wal-Mart Services and Digital Acceleration.

Walmart hopes that the newly introduced service will ease the returning process to the stores. Wal-Mart Stores Inc (NYSE:WMT) has risen 13.83% since October 9, 2016 and is uptrending.

However, this offer is initially going to be available on select household items like color cosmetics and shampoo. Customers will see an option in the app that allows them to instantly receive a refund. "We can detect those folks that may be trying to take advantage of that system and we have the appropriate checks and balances". With its more than 4,700 stores in the United States, no other chain in America can come close to Walmart and it means 90% of the United States population lives within 10 miles of a Walmart. The retailer is also preparing a similar service for purchases made through its online marketplace.

As well as Walmart hoping this will help improve its customer service, the effort is a way for the retail giant to edge past Amazon, which had not been idle itself. Raymond James Na stated it has 0.46% in Wal-Mart Stores Inc (NYSE:WMT). But she also cautioned that Wal-Mart's mobile express return program isn't simply being unveiled to benefit customers. Lsv Asset Mgmt holds 0.63% of its portfolio in Wal-Mart Stores Inc (NYSE:WMT) for 4.66 million shares. But Walmart has confirmed to me that there are "no plans" to add Jet.com, an Amazon-style marketplace Walmart acquired for $3 billion previous year, to that service. They may also be used to assist the trader figure out proper support and resistance levels for the stock.