Economy

Walmart, honing same-day delivery skills, buys NYC's Parcel

Walmart, honing same-day delivery skills, buys NYC's Parcel”

Walmart this morning said it has acquired Parcel, a NY company that does scheduled same-day deliveries of packages and meal kits, accounting for the "last mile" of the shipping process.

Wal-Mart did not disclose the financial details of deal, however, a Recode report indicates that the deal was closed at less than $10 million.

Parcel launched in 2013 to help city dwellers get their packages at convenient times.

Parcel, a 24/7 operation that delivers packages the same-day, overnight and in scheduled two-hour windows, was bought for an undisclosed amount "smaller than previous acquisitions" Wal-Mart made this year, the discount retailer said. Parcel also sends live package updates via text message to the merchant and recipient, informing them of the location of the package through the last mile of delivery.

"Born and bred in New York City, Parcel has developed unique expertise delivering to customers in a distinctly challenging and essential market", Faust said. In addition, Walmart is considering how to leverage Parcel to deliver products including perishable food to consumers in New York City, building on a Jet.com free same-day delivery initiative. Walmart.com will also start testing same-day delivery in the city soon, and both Jet and Walmart will offer both general merchandise as well as fresh and frozen groceries as part of these new express delivery options.

The move comes just weeks after Amazon.com completed its acquisition of Whole Foods, which has a large presence in New York City and will likely help Amazon accelerate grocery delivery. Walmart purchased online retailer Jet for more than $3 billion past year.

The move also means Walmart has finally found a home in NY, where it's been blocked in its efforts to open stores for years. And Walmart, whose e-commerce grew 63% last quarter, is looking to keep pace with Amazon, whose Prime members can get free two-hour delivery on a limited assortment of goods, as well as same-day delivery for free on many items.



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