Do you remember when “six to eight weeks delivery” was standard for mail orders?
It wasn’t even that long ago.
As someone who grew up in the ‘90s — back before e-commerce got big — I remember the frustration of waiting for a package to arrive.
One time I even waited months for an order of comic books. When I finally contacted the company, they admitted they forgot to ship it in the first place.
Today, lots of major retailers, including Amazon, Target and Best Buy, offer two-day shipping. And it’s virtually guaranteed that your order will make it to your home.
But as fast and convenient as two-day delivery is, it will soon be obsolete.
That’s because the world’s largest retailer aims to upgrade its deliveries in a high-tech way.
Unparalleled Speed and Ease
Last week, Walmart announced it’s teaming up with Ford and a startup called Argo AI to launch a delivery service operated by self-driving vehicles.
Ford will build specialized vehicles equipped with Argo’s state-of-the-art autonomous driving technology.
Walmart’s new service will launch in Miami, Austin and Washington, D.C., later this year.
With a fleet of autonomous vehicles, Walmart aims to deliver groceries and other items to customers “with unparalleled speed and ease.”
“Consumer expectations continue to shift to next-day or same-day delivery — especially in the urban core where there is a higher concentration of deliveries,” Ford said in a press release.
Walmart’s move makes sense from a business standpoint.
A report from grocery e-commerce firm Mercatus estimates that deliveries will account for 21.5% of U.S. grocery sales by 2025, up from 10.2% in 2020.
That would make the U.S. grocery delivery business a $250 billion market.
As e-commerce booms, customers are going to expect faster delivery times and lower costs.
Driverless vehicles are the answer to that.
E-Commerce and Our Digital Economy
Self-driving delivery vehicles are going to be everywhere in the future. It’s inevitable.
But e-commerce isn’t the only tech trend you need to pay attention to. That’s because every aspect of the U.S. economy is shifting toward digital experiences.
Between work-from-home software, fintech and even the metaverse, our lives are focused around convenient online solutions more than ever.
Ian King calls it the “New American Economy.” It’s a digital revolution transforming our country … and creating opportunities for huge stock market windfalls.
You can find out more by watching Ian’s special presentation.
Morning Movers
From open till noon Eastern time.
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Traeger Inc. (NYSE: COOK), the grill maker, is up 12% today after investors saw a buying opportunity when the stock approached a 52-week low yesterday.
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