Walmart acquires NY last-mile startup Parcel

05 October, 2017, 00:55 | Author: Earnest Huff
  • Walmart's Jet.com to launch its own grocery brand

Parcel is a 24/7 operation that delivers packages the same day, overnight and in scheduled two-hour windows. Parcel gives customers live updates throughout the process.

Parcel now works with meal kit, grocery and e-commerce companies to provide last mile capabilities.

"Delivery is increasingly one of the most important elements for today's online shoppers, as demands for speed, flexibility, and reliability continue to grow", said Nate Faust, senior vice president, Walmart U.S. eCommerce Supply Chain.

From a demographic point of view, New York City has great strategic value to both Walmart and Jet.com because it's one of the most densely populated areas in the U.S. and represents a key market. Some Wall Street analysts have speculated that Amazon will eventually use its newly-acquired Whole Foods stores as mini-warehouses for same-day food delivery.

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The service also helps Walmart tackle the problem of same-day delivery, which is a big problem to solve if the company wants to offer delivery options for perishable items like food.

While the two companies did not disclose the terms of the detail, Recode reported that a source familiar said that Wal-Mart paid $10 million to acquire Parcel, and Wal-Mart noted in a fact sheet for the deal that the price was "smaller than previous acquisitions we've made this year". Walmart will now be able to tap into Parcel'shomegrownn familiarity with the market.

In addition, Walmart is investing in grocery pick up and delivery programs to complement online shopping and grocery, which is available in more than 900 USA stores. It's also began testing a service that recruits Walmart employees to deliver packages to customers on their way home. Earlier this year, Jet announced a partnership with Latch, another New York-based startup that offers keyless entry for delivery personnel to leave packages inside a doorman-less apartment building.

Parcel's customers include Bonobos and meal-kit services like Chef'd and Martha Stewart's Martha & Marley Spoon, and will continue to serve current clients, Walmart said.

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