Wal-Mart’s sales unexpectedly fell today.
But while overall foot traffic and sales were down, there was one bright spot — Wal-Mart’s Neighbourhood Market concept.
Sales at the markets were up an impressive 5%.
Wal-Mart has about 400 Neighbourhood Markets, compared with more than 3,300 Supercenters, notes Kyle Stock at Bloomberg Businessweek. The average store is about 20% the size of a Supercenter.
Big box stores are becoming irrelevant as Americans downsize and purchase big-ticket items like furniture and televisions online.
Wal-Mart’s marketplace concept focuses heavily on fresh produce and groceries. While traditional Wal-Mart stores are situated on large patches of land, the Neighbourhood Markets are primarily in urban areas.
Wal-Mart shared some photos of its new concept. Chances are, one will be coming to a neighbourhood near you in the future.
Here’s a Neighbourhood Market in California. Note how the store closely resembles a Whole Foods Market.
Here’s a more urban location, in Chicago.
The Neighbourhood Market includes ample “healthy” displays.
There’s also an emphasis on local and organic produce.
Wal-Mart is expanding the concept to more markets.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.