Following the announcement that Walmart is to open a Lord & Taylor online store in spring 2018, journalist Josh Walker asks whether it is a mistake for the brand.
Given the changes at Walmart over the past year, the move does make sense for the brand. The retail corporation has acquired Bonobos, ModCloth and Millennial-focused e-commerce website Jet to broaden its appeal and attract a wealthier and younger demographic.
But while the introduction of Lord & Taylor’s designer products will help Walmart continue to attract the attention of luxury consumers, is a partnership with a struggling, old-fashioned department store going to do it any favours in continuing its appeal to Millennials?
In our Digital Store Fronts microtrend, we explored the different ways in which brands are working to replicate the experiential element of physical retail into an online, e-commerce setting in order to push digital retail forward. As part of its collaboration, Walmart has stated that it will be launching a ‘specialised online experience’.
While it hasn’t outlined specifics on what that experience might entail, it may be the collaboration’s saving grace. By combining different elements to help replicate the multisensory characteristics of in-store shopping, it has the potential not just to continue Walmart’s push to a more affluent, younger demographic, but also to give Lord & Taylor a much-needed boost in the process.
Read the full Opinion here.
Adidas for Lord & Taylor, US