Shares of Walmart spiked 0.73% Wednesday morning, after the US’ largest retail chain unveiled a plan to win the holiday season.
Walmart will host 20,000 parties in super centres across the country, centered around themes like toys, gifting, and entertaining. Three days of parties will be held in total. Walmart will also be setting up demo areas in the toy section for kids to interact with certain items, Business Insider’s Dennis Green reports.
Digital sales will also be a huge focus this winter. Scott Hilton, CRO for Walmart’s US online business, said the company would triple its online assortment and offer free two-day shipping on any purchase over $US35.
The holidays season is always important for retailers, and has been increasingly vital as more shopper turn to Amazon for their gifting needs. Jefferies estimates Amazon controlled 20% of the total toy market last year, with 35% of that coming in December alone.
Wall Street is bearish on Walmart heading into the holiday shopping season, giving the stock a consensus target of $US86.54 — 1.56% below where shares were trading Wednesday morning.
Walmart is up 28% so far this year.