Simon Belsham Will Now Head Walmart’s Jet.com to Succeed in Online Grocery War
A grocery business veteran Simon Belsham is now nominated as president of Walmart led Jet.com to oversee its operation and bring some tangible changes in the highly competitive grocery market in the US. Earlier, Simon also had a successful career with UK’s retailer Tesco Plc’s online operation.
Simon will look for end-to-end operations of Walmart online grocery and general merchandise segment by joining the company’s leadership team. The message was confirmed through a mail by Marc Lore who is heading Walmart’s eCommerce business.
In the recent quarter, Walmart growth for online grocery business was seen to be at 23% which is less than half of its growth in the previous three quarters. This news of its profit percentage got its stock price walloped. Walmart had acquired Jet in the year 2016 which proved to be a great move by the company as it got easy access to both technology and talent through Jet founder Lore and his mentored team.
Belsham’s joining the company has taken place at a time when the market is really hot and competitive with all the rivals taking extreme steps to grab the market share and lure the customers who want to shop right from their couch. Amazon.com already purchased Whole Foods market for $13.4 billion last year. Walmart has to perform amidst other competitors like Target Corp, Costco Wholesale Corp, and Kroger Co.
Walmart is also ready with its aggressive expansion plans ready to deliver across more than 100 US cities. It will also offer curbside grocery pickup at 2,200 stores by the end of the year 2018. Jet will focus on meeting the requirements of urban millennials and will help Walmart please the urban customers through its range of products.
Belsham’s leadership will ensure that Jet maintains its uniqueness in the product category and offers specialty good to its customers which is not available anywhere else. According to him the combination of Walmart and Jet is the best and it will surely bring results beyond expectations.