ND0421117

Title: Walmart Acquires Social Networking Firm

Description: Acquisition is a sign that the retailer has begun developing a focused social commerce strategy.

Page Content:

BENTONVILLE, AR ? Walmart announced earlier this week that it has agreed to acquire social networking firm Kosmix, a sign of its commitment to integrate social media within its operations, the Financial Times reports. (The Times commented that to-date, ?Walmart [has] yet to develop a clear social commerce strategy.)

Walmart said Kosmix would form a new group called @WalmartLabs, based in Silicon Valley, and develop technologies and businesses for shopping online and with smartphones.

While to-date, most firms have relied on Facebook and Twitter for their social marketing efforts, Walmart is seeking to develop standalone social media business opportunities.

According to the Financial Times, ?Walmart?s systems for tracking shoppers? spending are already among the most sophisticated in the retail industry,? but it said the acquisition of Kosmix would allow the company to develop means for increasing the depth of their insights into customer behavior.

?We are expanding our capabilities in today?s rapidly growing social commerce environment,? said Eduardo Castro-Wright, Walmart?s vice-chairman.

Content Subject: Marketing/Merchandising

Formatted Article Date: April 21, 2011

test find and rely really nice stories