A Walmart Neighborhood Market segmentation report has been released by a Walmart India spokesperson.
The report, which was first published by TechCrunch, looks at how the company is segmenting its markets and how it wants to build its network in the future.
It highlights the fact that while Walmart stores are usually located on the same floors as its other retail locations, the company wants to have a better insight into what customers are searching for when they shop at the stores.
“The market segmentations of the two stores in our retail stores is very similar,” said the spokesperson, “but the Walmart Neighborhood market is very different.
The Walmart Neighborhood store is a smaller space, while the Walmart Community store is larger.
The Neighborhood store’s floor layout also offers more space for people to congregate and store their merchandise.”
The report highlights the benefits of having more space and different floor layouts to accommodate a larger customer base.
“While Walmart has a lot of stores that are geographically separated, the Neighborhood store has the capacity to cater to a larger number of customers in a single space,” the spokesperson said.
“Additionally, the Walmart Family Marketplace is one of the few areas where there are multiple locations within a building.
We will continue to work with our community to expand our network of Neighborhood stores, which will enable us to provide a greater variety of services and better serve our customers.”
Walmart will be offering more than 1,500 Walmart Neighborhood stores to be in the mix when the new year starts.
The company will have the option of adding another 500 stores in the coming months.
Walmart will also be rolling out a new app called Neighborhood, which aims to be an “e-commerce platform” where shoppers can shop and place orders through Walmart’s Neighborhood Market app.
“We are excited to be able to partner with Walmart and the Neighborhood community to help them build a better Neighborhood experience,” said Samira Raghavan, Senior Vice President, Retail and Community Marketing at Walmart India.
“Neighborhood Market will allow us to connect with our customers, provide them with new opportunities, and help them make a better purchase, which is why we are creating the Walmart Home Improvement Store and the Walmart Garage.
This new product will help customers save money, get closer to home and stay connected with family and friends.”
Walmart has invested over $2 billion in the Neighborhood Market program.