Walmart, the world’s biggest brick-and-mortar retailer, today made an acquisition that speaks to its ongoing efforts to build out its e-commerce experience to better compete with Amazon. Today, the company announced that it acquired Aspectiva, a startup out of Israel whose AI-based technology analyses user-generated content, like customers’ product reviews, and combines it with a shopper’s browsing behavior to make product suggestions to shoppers both online and in stores.
The startup will be joining Store No 8, Walmart’s in-house incubation arm established in 2017 to help the company develop and roll out more innovative shopping experiences. Store No 8 most recently launched a VR shopping experience “startup” called Spatial&, and last year it started a closed beta Jetblack, a text-based shopping concierge service for “busy moms.”
It’s not clear yet whether this will mean Aspectiva will build a standalone service or work on tech that Walmart will roll out across its own stores both offline and online. You could see where Walmart might be able to incorporate its tech to make the shopping experience in both scenarios less static as the startup already works across both.
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Source: Tech Crunch