Price Target Analysis of Wal-Mart Stores Inc. (WMT)

Wal-Mart promises 30-second returns in stores as Amazon tries to catch

Return of item at Wal-Mart will roughly take five minutes, but according to senior vice president of Wal-Mart Services and Digital Acceleration, the discount retailer is not prepared to drop that to 30 seconds. "That's why we've completely transformed the process for our customers".

When at the store, the customers then can scan a barcode with any compatible mobile electronic device and hand the returned items over at a dedicated lane of the customer service area, in what an executive at Walmart said would take only 30 seconds, or far less than what it now takes.

Customers "will no longer have to send off their product and wait days for an online return to be credited", the company said, adding that since 90% of Americans live within ten miles of a Walmart store, "it's never been faster or easier to make an online return".

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According to a survey of 1,000 online shoppers, 75 percent say they've returned clothing and accessories before. Following this, they can bring the item in to store, scan a barcode with their phone, and leave the unwanted product with an employee. Since the store would most likely dispose of them anyway, Walmart will let customers keep the items and will process a refund instantly. Walmart plans to include items bought in-store by early next year, and those sold online by third-party sellers eventually. It will initially be available for household items like shampoo but will eventually expand to other items over time. The company said previous year that the app would have a feature to allow customers to receive a refund without having to visit a store. They will have to select the reason for the refund - like a damaged item - before receiving approval. New technology can detect those who are trying to game the system, Walmart said.

USA retail giant Wal-Mart has continued to improve its customer service and user experience this week, announcing improvements made to the efficiency of its returns service.

Walmart on Tuesday touted major growth projections for its online sales division in the upcoming fiscal year, as the Arkansas-based retailer battles with ecommerce giant Amazon for market share in the competitive sector. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its holdings in Wal-Mart Stores by 3.3% in the second quarter. The ratio is more positive, as 586 institutional investors opened new and increased positions, while 576 cut down and sold their stakes in Wal Mart Stores Inc. But she also cautioned that Wal-Mart's mobile express return program isn't simply being unveiled to benefit customers.



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