Walmart makes last-mile delivery acquisition in NYC

Above Parcel

Wal-Mart announced the purchase on its website, saying it paid less for Parcel than other acquisitions made this year, without giving more details on the terms. Parcel will deliver fresh and frozen groceries from Walmart and, as well as general merchandise.

Founded in 2013, Parcel bills itself as a "last-mile delivery solution" that can integrate with existing ecommerce platforms through its API.

"New York City is the top market for both Jet and, and because of the density of the area - along with the proximity of our fulfillment centers - it's the ideal place for high-impact innovation", Nate Faust, senior vice president for the retailer's e-commerce supply chain, said in a post on the company blog.

Its current clients - who it will continue to serve, Walmart said - include meal kit companies like Chef'd and Purple Carrot.

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There's still no Walmart anywhere in New York City, but that hasn't stopped the superstore from trying to get its goods to your doorstep. If not picked up in a timely manner, packages are returned to retailers. The service allows customers to schedule delivery times for their packages, which solves the problem apartment dwellers face when they don't have a door person to let a delivery person into the building.

The acquisition of Parcel signals a desire to boost that practice so that Walmart can better compete with other same-day delivery services, like Amazon's Prime Now.

Jet already delivers some orders for no extra fee on the same day they are ordered, and Walmart believes Parcel will help it reduce the operating costs associated with those deliveries. Parcel receives packages from a variety of partners at its Brooklyn warehouse and uses routing algorithms and a fleet of vans driven by employees to offer same-day, overnight and two-hour package delivery windows. Year-to-date, WMT has gained 15.82%, versus a 14.49% rise in the benchmark S&P 500 index during the same period.

Parcel will add to Walmart's ability to deliver to high-density cities, which the company considers a "top market" according to a news release.

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