You might not think of Walmart when you’re shopping for a Rolex watch, but the retailer told shareholders last week that its Marketplace platform saw 200% growth year-to-date in its pre-loved luxury fashion segment. It’s continuing to pursue the strategy with an expansion of its deal with StockX and with new partnerships with PrettyGarden, Bag, Borrow or Steal, and BeckerTime.
Searching “Rolex” on Walmart.com this weekend returned high-end watches, including a $54,999 diamond-encrusted Rolex. And Louis Vuitton and Gucci are top-selling handbag brands on Walmart’s online platform.
“Walmart Marketplace continues to elevate its profile as a digital shopping destination by adding more in-demand, higher profile brands that customers search for but wouldn’t typically expect to find at Walmart,” the company said. It provided EcommerceBytes with the following highlights from its shareholder meeting:
Expansion with StockX: Partnered with StockX for certified-new Nike, UGG and other popular luxury sport and lifestyle brands. Starting with a few hundred SKUs, will soon to expand to over 15,000 SKUs, including more than 1,200 children’s SKUs, just in time for back-to-school.
New Partnership with PrettyGarden: Launched a partnership with PrettyGarden, the #1 selling fashion brand on another online marketplace, offering the perfect price point for budget-conscious Walmart customers.
New Partnership with Bag, Borrow or Steal: With the success of ReBag and Walmart Marketplace’s Pre-Loved Luxury Fashion program, to meet customer demand, Walmart has onboarded luxury handbag seller Bag, Borrow or Steal. Today, Louis Vuitton is the top-selling handbag brand on Walmart Marketplace, followed by Gucci.
High Demand for Pre-Loved Watches: Pre-loved watches are popular on the marketplace, with Rolex as the top-selling brand. This category has grown by 32% YTD. To meet demand, the company partnered with Brecker Time, specializing in pre-owned brands like Rolex.
Walmart seems determined not to be outdone by rival Amazon, and that comes to technology and the user experience too. Just as Amazon has an AI-powered search tool for shoppers called Rufus, Walmart announced Sparky on Friday, “a GenAI assistant that synthesizes reviews, offers occasion-based recommendations, and helps customers plan, compare and purchase with confidence.”