On Monday, Walmart, the U.S. retail chain, announced a $9 billion investment over two years to revamp and modernize certain U.S. stores, focusing on enhanced layouts, wider product offerings, and the integration of new technological advancements.
Walmart announced in a statement that on Friday, it will unveil the upgraded features in 117 stores located across 30 states, reflecting an investment exceeding $500 million. The company intends to modernize over 1,400 out of its 4,717 Walmart stores nationwide. It’s important to note that these renovations will not extend to its warehouse club chain, Sam’s Club, as confirmed by a spokesperson.
“These construction investments allow us to create more local jobs and make it easier for our associates to get customers what they want, when they want it,” John Furner, chief executive officer of Walmart’s U.S. business said.
Walmart’s affordable and narrow-margin grocery offerings have proven highly popular among Americans grappling with significant food price inflation, particularly in items such as eggs, protein, and chocolate, during the preceding two years. Notably, in 2022, the company achieved record-breaking sales, exceeding $600 billion.
The retailer, headquartered in Bentonville, Arkansas, is now aiming to transform its identity from being solely a deep-discount store to a place where customers can also buy stylish home goods and clothing, becoming a sought-after destination for these items.
As a part of these initiatives, the company trialed revamped concept stores known as “Stores of the Future” in select Walmart Supercenters, including one in Teterboro, New Jersey, earlier this year. Company executives have previously reported the success of this concept, resulting in same-store sales increases of a few percentage points, and in the case of Teterboro, a remarkable upsurge of as much as 20%.
According to a Walmart spokesperson, the investments made on Monday signify the nationwide implementation of this concept.
The improved stores will feature revitalized interiors and exteriors, including fresh paint, upgraded flooring, modernized restroom facilities, LED lighting, and new signage designed to enhance brightness and facilitate easier navigation throughout the stores, as per the company’s statement.
Customers will also notice expanded checkout choices, such as staffed lanes and self-checkout stations, as well as an increased selection of grab-and-go food and beverage options within the grocery sections.
The stores will also feature larger pharmacies equipped with private screening rooms for pharmacist consultations and services. Additionally, digital screens and QR codes will be available to provide information about Walmart’s online services, as stated by the company.