Walmart's Store No. 8 Ventures Into Virtual-Reality Retail
*By Christian Smith*
In its relentless quest to improve shopping, Walmart is trying to recreate an in-store experience for online shoppers using virtual reality developed by Spatialand, a software start-up the retail giant acquired earlier this year.
VR may seem like a novelty, but Spatialand's CEO and the founder of Walmart's tech incubator Store No. 8, Katie Finnegan, said it may may be more mainstream in the near future.
"It's pretty similar when you look at the original smartphone or cell phone market, she said Wednesday in an interview with Cheddar. "Those were sort of novelties, as well."
Finnegan and Walmart hope that VR can enhance shopping for the company's millions of customers.
"Studies show that when you're immersed in it you actually retain, and actually understand and validate that information in a much better way than you could do just on a 2D screen, but also as you could do in a physical store," Finnegan said.
The company is already using VR to train its new sales associates by simulating challenging situations like November's dreaded Black Friday.
Eventually, Walmart plans to use VR to market more experiential products, which Finnegan separates from "consumables" like groceries and toiletries, for customers who may want a preview.
For full interview, [click here](https://cheddar.com/videos/how-walmart-plans-to-use-vr-to-improve-the-customer-experience).
Parallel Systems has been selected to receive $4.5 million from the Department of Energy for an advanced testing program of its autonomous, battery-electric rail vehicles. The startup, which has raised more than $53 million to date, was founded by former SpaceX engineers to reimagine the rail system by creating a more efficient, decarbonized freight network. Matt Soule, Co-founder & CEO of Parallel Systems, joined Cheddar's Opening Bell to discuss what the company hopes to achieve.
A bipartisan bill introduced by U.S. Senators Amy Klobuchar (D-MN) and Cynthia Lummis (R-WY) aims to tackle the spread of misinformation on social media platforms, as well as the addictive nature of the sites and negative mental health impacts they have on users. The 'Nudge Act' would require studies to find and compile potential interventions that platforms could use to encourage people to think before they share a post, or log off after spending too much time on an app. The FTC would create rules based on these findings, and hold the platforms accountable. But will it work? Jesse Lehrich, co-founder of Accountable Tech, joins Closing Bell to discuss the bill, whether real results and regulations could come from it, and more.
