Joel Citron, director of Advertising Technology at Ai Media Group, was included in a CMS Wire story on Jet.com and their recent acquisition by Walmart. It was announced that Jet.com was bought by Walmart for $3.3B. When it comes to the two companies, Joel said, "They have very different ways of engaging with the customer.” Here’s an excerpt from the CMS Wire story:
Now here is where Jet.com can clearly help Walmart — it continuously engages with the customer, far more so than Amazon. Every time a customer puts an item into his cart, the site engages with him, Citron told CMSWire. "It will tell you, for example, 'all you need is to buy another $10 to get your total price down to $75.'"
Is the secret sauce that Walmart.com has been missing? Possibly, but Citron also agrees that it is unusual for a retailer to have such a huge chunk of the brick-and-mortar sales and such as small percentage of online sales.
"Maybe Walmart won't be able to successfully integrate Jet.com in the end," he said.
But, then maybe it can. Besides the pricing engine, which automatically builds in engagement as well as maximized cart sales, that $3.3 billion purchase price includes Lore's expertise. Lore will be staying on at Walmart.com for two years as part of the deal. "He has a great reputation plus those two years at Amazon," Citron said. "If anyone can turn Walmart.com around it is Lore."
To read the CMS Wire story, click here.