Walmart announced plans to purchase Art.com on the 6th of December, 2018. Earlier this year, The giant also acquired a stake in Indian eCommerce giant, Flipkart for $16 Bn.
Art.com is a speciality online retailer of artwork, posters, and other wall decors. The site will continue operations as a standalone website with their art being featured on Walmart’s other acquisitions such as Hayneedle.com and Jet.com. With the deal anticipated to close early next year, Walmart seems to be stepping up its game to take on e-commerce giant, Amazon.
Art.com is a site which offers prints and art pieces at affordable rates and is primarily targeted at most millennials and other people looking to decorate their first own apartment. The site has been active since 1998. Since then, the site has grown significantly and now features home decorations and more than 2 million expert-curated images that are designed for millennials with a sense of artistic style while maintaining a CB2 budget.
Walmart continues the fight to establish itself as the speciality retail destination for homes and takes the fight directly to Amazon. Amazon does offer art prints as well as original works from artists and dealers. However, most people on Amazon have to do the curation themselves across a screen. That’s where Walmart has the edge with editorial imagery or data insight from speciality sites like Art.com.
Walmart looks to give their customers customised recommendations and insights based on the artistic style of the artwork they’ve recently bought. This is supposed to help customers find newer art that they may like or give them an in-depth aesthetic of design aesthetics, colour preferences, and other complementary pieces like furniture and rugs to go along with them, or even into the space around the artwork.
With the deals currently ongoing, the company is betting on acquiring unique, differentiated digital brands without any intentions of slowing down. They are certainly willing to take the fight to Amazon and take the position of the most reliable and versatile retail destination for homes for themselves. With deals closing earlier next year, the competition seems to get more intense as neither company is willing to back down.