We created a three step product strategy to counter this problem:
Step 1: Create a simple tool that lets customers scan their receipt, and get a store credit if they overpaid.
The goal is to convert store shoppers to online shoppers. You need to create an account in order to use the service.
Step 2: Create a platform that aggregates all a customer’s savings across all Walmart properties(coupons, eboxtops, online, etc)
Add value after they’re hooked into the platform. Now they have a place that aggregates all of their shopping data and shows them how much money they’ve saved. It serves as an incentive to continue shopping at Walmart.
Step 3: Use machine learning to predict what users need, and let them do all of their shopping online, at Walmart
The end goal is to move people away from shopping at the stores completely. Which sounds crazy, but when you’re a company as big as Walmart, you need to attack your own cash cows. Similar to how Apple created Apple Music, which is a direct competitor to iTunes, but was necessary because otherwise Spotify would have obliterated iTunes anyway.
Step 1 launched. Step 2 and 3 live on as concept studies.