On Wednesday, Wal-Mart Stores Inc. announced that it had bought Parcel to become able to provide same-day delivery to the customers in New York City.
Parcel, Brooklyn, NY-based company offers last mile and same day delivery in metro New York for online retailers such as Bonobos. The company also has partnerships with several e-commerce, grocery, and meal kit companies. Walmart has also said that in the past two years, Parcel has delivered more than 1 million meals.
Walmart, the world’s largest retailer announced that it will utilize Parcel for last-mile delivery such as same-day delivery in the city of New York for products including fresh and frozen groceries and general merchandise. The deal took place on Sept. 29, 2017. Any terms to the deal were not disclosed, however, authorized personnel from Walmart asserted that it was smaller than previous deal that happened this year. The officials at Walmart also shared that they have bought the company as it delivers packages on the same day and works for 24 hours a day. This deal will help Walmart to grow its reliability, flexibility, and speed.
Parcel receives the packages at its warehouse situated in Brooklyn. By using routing algorithms, the professionals at company are able to quickly sort and load packages for delivery. As New York is a key market for Walmart, this deal is expected to help Walmart sustain its dominance in the market.