Build it and they will come. At least that seems to be the phrase Walmart is employing with its latest initiative to compete with Amazon.
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The retail giant is entering into a deal with department store Lord & Taylor that would give it with a dedicated spot on the Walmart website, creating an online mall concept accessible through Walmart, the Wall Street Journal reports.
Should the deal move forward, Lord & Taylor will also continue to operate its own website but shoppers would be able to pick up and return items to any of Walmart’s brick-and-mortar stores across the U.S.
By incorporating premium brands, Walmart hopes to increase its reach and appeal to a broader demographic. Bonobos and Jet.com could eventually be included in the project as well, along with other chains.
The partnership could be similarly beneficial to Lord & Taylor, which has struggled with sales and declines in foot traffic in recent months, the Journal reports.
While many higher-end brands have resisted joining Walmart because of its strong reputation as a discount retailer, the increasing competition from Amazon is causing many to think twice.
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