Is Walmart on verge of retail disruption?
Walmart is taking a big step toward changing the way consumers shop.
The retail giant's technology incubator, Store No 8, has acquired virtual reality startup Spatialand to build VR products for the retailer’s stores and websites.
Spatialand, which worked with Store No 8 on a VR project last year, is a software platform that helps create virtual reality experiences.
Store No 8 principal Katie Finnegan will serve interim chief executive of the new VR company. Spatialand’s Kim Cooper and Store No 8 consultant Jeremy Welt will assume senior roles in the new firm.
“At our core, we are merchandisers and storytellers which drives us to believe that virtual reality has the potential to reinvent the consumer experience—with an experience we call contextual commerce," Finnegan said on the Store No. 8 blog. "Last year, our team set out to explore the transformational effects of virtual reality in commerce, and we uncovered an underlying ecosystem of companies and technologies that when applied to retail, created a game-changing customer journey. This realization led our entrance into the space."