Walmart to Acquire AR Optical Tech Company
Walmart has entered into an agreement to acquire Memomi, an augmented reality (AR) optical tech company, to bolster the retail giant’s omnichannel optical care offerings.
Memomi uses technology that allows shoppers to virtually “try on” eyewear in real time. Since 2019, Memomi has enabled digital measurements across more than 2,800 Walmart Vision Centers and 550 Sam’s Club warehouses and powered the Optical e-commerce experience on SamsClub.com.
Acquiring Memomi is the next step in the retailer's journey of offering personalized, affordable access to optical care and furthers Walmart Health & Wellness’ strategy to deliver integrated, omnichannel healthcare that leverages data and technology “to improve engagement, health equity and outcomes,” according to a recent Walmart media release.
“Customers are looking for access to care digitally, in their homes, and purchasing eyeglasses is no different,” said David Reitnauer, vice president, specialty services for Walmart Health & Wellness, in the release. “This acquisition supports our Health & Wellness mission to provide accessible care to the communities we serve.”
The acquisition is expected to close in the coming weeks, and Memomi employees will join the Walmart Global Tech organization.
“We’re excited to welcome the Memomi team to Walmart and add their capabilities to our leading virtual reality technology that is transforming the retail experience for our customers and members,” said Cheryl Ainoa, senior vice president, new businesses and emerging tech, Walmart Global Tech, in the release.
In related news, Walmart just introduced two AR-enabled features on its mobile app designed to making shopping easier at home and in stores. The first feature will roll out to all shoppers by early July on Walmart’s iOS app to enable shoppers to view furniture and home decor items in their spaces with a few swipes on their smart phones using haptic feedback. Walmart Global Tech is developing a new AR in-store feature intended to enhance how shoppers view key product information.