News Feature | April 25, 2017

Walmart and Are Bolstering Online Sales With Purchase Of Domain

Christine Kern

By Christine Kern, contributing writer Amazon

Retail giant reportedly shelled out $9 million for the competitive domain.

Retail giant Walmart has not been shy about its ecommerce initiatives in the past few years. With its acquisition of in August of2016 and a number of other retailers, Walmart is aggressively pursuing a larger chunk of the online marketplace to challenge Amazon’s supremacy.  Walmart used to help boost its offerings and challenge Amazon directly.

Walmart also purchased outdoor good seller Moosejaw in February. Now, as part of that strategy, Walmart-owned has reportedly paid out $9 million to secure the domain, in the wake of its purchase of Boston-based ShoeBuy for $70 million. Walmart bought the domain name in a bankruptcy auction, and the transaction also included a few other relatively worthless domain names, trademarks, and social media accounts.

A spokesperson for ShoeBuy told Footwear News that the acquisition is merely part of the company’s greater digital goals. “We plan to maximize as the gold standard of category websites,” spokesperson Alex Proelss said. “We have made a commitment to modernize how people shop for shoes, and this is [an extension] of that.”

ShoeBuy plans to overhaul the site to make it consistent with the ShoeBuy approach to online retailing, and reflect the parent company’s initiatives. The Canadian company was abruptly shuttered in January, leaving a number of customers hanging with outstanding orders or unprocessed returns, many of which ShoeBuy is trying to facilitate now.

Jet continues to gain the experience of a well-established e-commerce player in the footwear industry, who has transformed the online shopping experience for millions of customers,” the company said. “ShoeBuy brings access to a large assortment of products, strong industry relationships and rich content.”