Walmart's latest service launching next month does just that by making products bought online even easier to return. Wall Street analysts, on average, are forecasting the company's EPS to be 0.97, compared to 0.98 reported in the same quarter previous year.
As of now, Walmart is only covering items it sells directly as part of its return process, although it says it is working on a system to do the same for products sold by third-parties on its marketplace. "That's why we've completely transformed the process for our customers".
The way Wal-Mart's 30 second return will work is customers will start the process on Wal-Mart's mobile app before going to the store. The refund is credited back to the shopper's payment account by the next day, according to Walmart. The company is ready to expose the Mobile Express Returns.
Anyone who's spent any time in a Walmart return line knows it's zero fun to spend time in a Walmart return line. It will slash return timing to 30 seconds instead of 5 minutes.
By December, customers might not even have to return the item to a store and get the refund immediately, though this will initially be limited to household products.
Finally, the Walmart app could also offer consumers an instant reform for certain items that were delivered damaged, such as a bottle of shampoo, Fortune added. In such situations, all a customer would need to do to receive a refund would be scan the item with the Walmart app on a smartphone.
"It's convenient for Walmart to put a customer service spin on this policy - however that is really nothing but PR". Also, the number of institutional investors holding Wal Mart Stores Inc in their top 10 positions increased from 54 to 56 for an increase of 2.
The firm also unveiled plans to add 1,000 online grocery pickup locations at its USA stores as the Asda owner expects its e-commerce business in America to grow sales by 40% for the 2019 year. Wal-Mart has introduced other convenience tools as well as it competes with other retailers like online giant Amazon.com, including its pickup towers and mobile express options in the pharmacy and financial services.
Wal-Mart shares were up more than 2 percent in premarket trade on the news. Shareholders looking to interpret historical returns should keep one caveat in mind: you can't assume that the future will be like the past.