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Walmart to Discontinue Jetblack

Photo Credit: Walmart via Flickr cc

On February 21, Walmart will discontinue Jetblack, its personal shopping service based in New York City. Designed to appeal to an affluent shopper, Jetblack was able to attract less than a thousand customers (as of last year), and it was losing a huge sum of money on each one. Rumors swirled briefly around the possibility of a spinoff, but now it appears Walmart is cutting its losses. The retailer’s head of Store No. 8 put a positive spin on the development.

“We’ve learned a lot through Jet black, including how customers respond to the ability of ordering by text as well as the type of items they purchase through texting,” Eckert said in the post. “We’re eager to apply these learnings from Jet black and leverage its core capabilities within Walmart.”

Read the full story at CNBC.