Walmart makes last-mile delivery acquisition in NYC

Walmart makes last-mile delivery acquisition in NYC

Walmart makes last-mile delivery acquisition in NYC

(Walmart) has acquired the last mile delivery startup Parcel to provide scheduled, time-definite delivery for customers in the New York City area.

The financial terms of the deal were not disclosed. The company is testing a new program in a few locations where in-store employees can sign up to deliver orders directly to customers. Walmart says it plans to use Parcel's delivery capabilities for last-mile deliveries to customers within New York City for general merchandise and grocery shipments.

Neither company revealed how much Walmart paid for Parcel, but a source told Recode that it was less than $10 million.

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"New York City is a really unique and complicated market, and that mastery is really rare", Parcel founder and CEO Jesse Kaplan said in an interview. "This acquisition allows us to continue testing ways to offer fast delivery while lowering our operating costs". Walmart also announced that Parcel would continue to dole out services to existing customers, which are growing at a rapid rate, which adds another revenue stream for Walmart. Likewise, Walmart's purchase of Parcel, along with its acquisitions of Jet and smaller e-commerce companies like Bonobos and ShoeBuy, shows it plans on taking on Amazon's primacy in online shopping. Jet.com is now testing free same-day delivery of certain orders in New York City and acquiring Parcel - which schedules two-hour delivery windows and uses a fleet of leased trucks to drop off packages - will enable Wal-Mart to build on it. Jet already delivers some orders for no extra fee on the same day they are ordered.

Wal-Mart now offers grocery pick-up service at hundreds of stores nationwide and is testing same-day delivery at a handful of stores.

Nate Faust, senior vice president of Wal-Mart's US eCommerce supply chain, said in a company release that Parcel already has partnerships with several meal kit, grocery and e-commerce companies, and has delivered more than 1 million meals in the past two years. So they see it as a big potential and they see the e-commerce piece and felt like they had to solve this problem. Further innovations range from associate delivery to in-building and in-fridge delivery with Latch and August Home.

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