Walmart Aims for Affluent Customers With Online Mattress Brand
- 6 years ago
Walmart Aims for Affluent Customers With Online Mattress Brand
The new offering — which Walmart describes as an “Instagram-worthy dream bed” — aims at the more affluent and digitally savvy customer
that the retailer has been making a big push to reach in recent years.
On Tuesday, Walmart’s stock cratered after the company reported
that e-commerce sales growth had slowed considerably in its fiscal fourth quarter, which included the holiday shopping season.
The bet with the mattress and bedding line is that women, in particular, will be drawn to the convenience
and premium style of the new brand, which is carefully curated on the website.
“We are thinking about how we win the future.”
The Allswell venture, which goes live next month, comes as concern mounts on Wall Street about Walmart’s e-commerce performance.
“This is how great brands get built,” said Andy Dunn, a founder of Bonobos and senior vice president of digital brands at Walmart.
The new offering — which Walmart describes as an “Instagram-worthy dream bed” — aims at the more affluent and digitally savvy customer
that the retailer has been making a big push to reach in recent years.
On Tuesday, Walmart’s stock cratered after the company reported
that e-commerce sales growth had slowed considerably in its fiscal fourth quarter, which included the holiday shopping season.
The bet with the mattress and bedding line is that women, in particular, will be drawn to the convenience
and premium style of the new brand, which is carefully curated on the website.
“We are thinking about how we win the future.”
The Allswell venture, which goes live next month, comes as concern mounts on Wall Street about Walmart’s e-commerce performance.
“This is how great brands get built,” said Andy Dunn, a founder of Bonobos and senior vice president of digital brands at Walmart.