Walmart may be trying to get into your pocket – through social media that is – after purchasing silicon valley based Kosmix for an undisclosed sum, according to Reuters.
The shopping chain giant is apparently attempting to cash in on more tech savvy shoppers by leveraging social media technologies that can be used on smartphones. It’s not the first time giant brands have tried to leverage smartphone users for smarter shopping, but it may well be the first time a retail chain has taken such concrete steps towards making those plans a reality.
“Social networking and mobile applications are increasingly becoming a part of our customers’ day-to-day lives globally, influencing how they think about shopping,” said Eduardo Castro-Wright, Walmart’s vice chairman.
Whether this means Walmart smartphone apps, a more concerted Facebook/Twitter effort, NFC enabled payment methods, location based services or all of the above remains to be seen.
As for Kosmix, whose founders sold their first company – Junglee – to Amazon back in 1998, the firm says it will remain in the bay area.
