Walmart is known as the world’s largest retailer and has been in the business for several decades. Its strong understanding of the market and its commitment to serving value-added items to customers have made it a synonymous name in the US and around the world.

However, with the advent of the internet, e-commerce companies have started to dominate the online space. Walmart was the retailer that was lagging in the market. However, in recent times, the company has managed to enter both online and offline spaces with the use of the right technology.

For example, by investing in RFID retail inventory management and other technologies like the IoT system for smart inventory, Walmart has successfully forayed into the online space and shown its retail dominance in the industry.

1.  Efficient Inventory Management With AI and ML

The role of smart inventory management has arisen from the use of AI and ML that helps the company to get the products on the shelves of the physical store. Here comes the use of artificial intelligence, which allows the company to predict which products are going in high demand in the stores, and based on that, they can restock the supplies.

Walmart uses its Intelligent Retail Lab (IRL), which takes real-time data through which one can monitor products, and therefore, it’s easy for them to store on shelves. It allows the company to find misplaced items and reduce inventory shortages.

2.  Use of Robotics and Automation in Warehouses

When it comes to streamlining automation, Walmart has implemented a robotics system that is useful for the fulfillment centers of the company. It allows the brand to deliver products through the online platform and also to keep the stores fully packed.

The “next-generation fulfillment centers” of Walmart are well-equipped warehouses that are packed with all the latest technology and are also useful for handling demands from both ends. The use of an RFID inventory system cost allows the process to become more suitable for the workers in the warehouse to handle product shipment.

With these smart warehousing systems, the company can maintain the accuracy and speed of the order without depleting the quality of the service.

3.  Seamless Integration in Both Online and Offline Segments

The use of the Walmart app is now the way to get the entire shelf of the retailer right at home. Here comes the crucial role, like integration of the shopping, like picking up from the nearby store to getting them delivered, all is done in a single app.  

Apps are useful to hook the customers on getting the items from the store in the comfort of their home and thus bring familiarity with the products that the company is providing to the customers.

4.  Use of Big Data for Consumer Insights

The use of big data that a company gathers from the users with their consent from the apps allows the brand to know the preferences of the customer; thus, the use of cookie technology has helped the company to make target marketing, thus increasing the sales on both fronts.

It can be concluded that Walmart’s current position in the retail market is there due to its adoption of the right technology at the right time. It lets the brand remain competitive in front of Amazon and other new-age e-commerce brands that are currently serving the market.