As Walmart works to remain competitive, it’s taking a more piecemeal approach to automation, through partnerships with a range of different robotics firms.
On Thursday, the mega-retailer announced a partnership with Fox Robotics, which brings 19 of the Austin-based startup’s robotic forklifts to its distribution centers.
Today’s news follows a 16-month pilot, which found Walmart trialing the technology in Distribution Center 6020.
DC 6020 is the place where Walmart began trials with Symbotic’s package sortation and retrieval technologies.
Following that successful trial, Walmart announced plans to roll out the technology to all 42 of its Regional Distribution Centers — that was nearly double the original target of 25.
The 13-year-old cash-back startup looks to make its public debut after turning profitable and recording impressive revenue growth in 2023.
The company reported $320 million in revenue in 2023, up 52% from 2022 when it produced $210 million in revenue.
Ibotta’s gross profits grew 68% from 2022, $164.5 million, to 2023, $276 million.
According to the S-1, this partnership plays a big role in Ibotta’s revenue boost.
“Our revenue growth significantly accelerated with the addition of new publishers to the IPN,” according to the S-1.
During Target’s investor event on Tuesday, the retail giant announced it is launching a paid membership program, Target Circle 360, on April 7 to compete with rivals Amazon and Walmart.
Target Circle 360 acts as the paid version of its free loyalty program Target Circle, which has existed since 2019.
Additionally, it’s renaming Target RedCard credit and debit cards to Target Circle, which will now give customers an extra 5% off purchases.
However, if you have a Target Circle credit card, it will still cost $49.
Walmart also sees success from its paid membership, Walmart+, which debuted in 2020 for $98/year.
Most notably, Walmart is launching a new generative AI search feature on iOS that will allow customers to search for products by use cases, instead of by product or brand names.
These enhanced search results will span categories, rivaling Google’s SGE (Search Generative Experience), which can recommend products and show various factors to consider, along with reviews, prices, images, and more.
At the time, Walmart teased that a generative AI-powered search feature was also in the works.
In another area, Walmart’s generative AI tool for store associates, My Assistant, will be expanded to 11 countries outside the U.S. in 2024, where it will work in employees’ native languages.
Outside of AI, Walmart is looking to other new technology for faster deliveries.
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