On Wednesday, Walmart announced its intention to open or change over 150 stores in the next five years. This move also includes updating their current stores.
This decision is a significant shift for the retail giant. Back in 2016, Walmart had declared a slowdown in opening new stores. Instead, it focused on boosting its online presence, technological advancements and renovating existing stores to keep up with its rival, Amazon.
According to a company representative, Walmart hasn't launched a new store since November 2021.
Currently, Walmart runs about 4,700 stores across the United States, which includes around 600 locations of Sam's Club.
Also Read: Costco Accelerates Nationwide Expansion: New Stores Opening Across the US
Walmart Expands Physical Presence for Online Integration
Walmart is adapting to the changing retail landscape by increasingly using its brick-and-mortar stores for online order fulfillment and as pickup points for online shopping.
This development was highlighted in a recent memo to The Associated Press by John Furner, the President and CEO of Walmart's U.S. division. He revealed that the first two new Neighborhood Markets stores will soon open in Atlanta and Santa Rosa Beach, Florida.
Additionally, Walmart is finalizing plans for 12 new store projects beginning this year. This includes transforming a smaller outlet into a Walmart Supercenter, which typically spans about 180,000 square feet and offers a wide range of products, from fresh produce to electronics.
Furner emphasized the significant investment these initiatives represent, involving millions in labor, supplies, and tax contributions benefiting local communities. "These efforts will not only enhance our community support but also allow us to serve more customers effectively," he stated.
In the coming year, Walmart, the biggest retailer in the country, is set to overhaul 650 stores in 47 states and Puerto Rico.
The company announced that these new and revamped stores will showcase Walmart's innovative design. The redesign will include better store layouts, a wider range of products, and advanced technology to enhance customer service and shopping convenience.
Walmart's Major Store Upgrades Nationwide
Walmart's newly built and renovated stores are set to feature the company's latest store concept, which includes enhanced layouts, an expanded range of products, and cutting-edge technology to aid staff in customer assistance.
These stores will also have a fresh look with updated signage, new paint, modern shopping carts, and an innovative design at the checkout area. In select sections of the stores, customers will find interactive displays and large-scale presentations of merchandise, allowing for a closer and more detailed view of the products.
In the last two years, Walmart has committed a whopping $9 billion to revamp over 1,400 stores nationwide, reflecting its dedication to improving customer experience and modernizing its retail spaces.
In another news about Walmart, a former Walmart location in Portland is set to become a grocery store following its recent investor acquisition. The site, situated at 4200 S.E. 82nd Avenue and sprawling over 154,000 square feet, was purchased for $20 million.
The sale was successfully orchestrated by the Portland International Center, a collaborative venture including Hoang Nguyen, Brandon Wang, and the Huot Family Revocable Trust.
Related Article: Former Walmart Property in Portland Sold for $20M, Set to Transform into Hong Phat Grocery Store
