On Tuesday, Retail giant Walmart (NYSE:WMT) said that it plans to introduce parcel stations in its stores to meet the predicted rise in customer demand as the holiday season approaches. The company disclosed this in a blog post, noting that the stations will improve its delivery services.
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Walmart said that the parcel stations will operate out of its existing stores. Furthermore, it plans to introduce over 40 of these stations by year-end, many of which will become operational in time for the holiday shopping season.
The move comes ahead of Cyber Week, during which consumer spending is expected to rise as high as $37.2 billion. This highlights Walmart’s push to match recent moves made by Amazon (NASDAQ:AMZN) in order to boost consumer spending and expand market share.
Is Walmart a Good Stock to Buy Right Now?
On Tipranks, analysts are bullish on Walmart stock with a Strong Buy consensus rating based on 25 Buys and five Holds. After a 10.36% increase in its share price in 2023, the average Walmart price target of $181.14 per share implies 15.74% upside potential.
