Why is Wal-Mart Stores Inc WMT, the world's biggest retailer, getting itself involved with the same virtual reality technology used by professional athletes?
Wal-Mart announced it will begin using STRIVR Lab's virtual reality technologies to train employees at each of its 200 "Wal-Mart Academy" facilities. An estimated 150,000 new workers will be trained in topics including management and customer service.
Innovative Technology As A Teacher
Derek Belch, STRIVR's founder and CEO, was a guest on CNBC to explain what some might find a confusing relationship.
Wal-Mart's virtual reality technologies will simulate experiences and decision-making scenarios that employees would face on a daily basis, Belch said. After all, practice makes perfect, whether it's throwing a touchdown pass or dealing with some of the everyday problems a Wal-Mart shopper faces.
"At the most basic level it is that simple — how do you simulate and give more repetitions to employees of all levels at all Wal-Mart stores?" he said.
Perhaps most important, a virtual reality course offers employees the necessary experience and know-how to tackle a problem that might occur just once a year, but have a high ROI impact.
Black Friday is a once-a-year event and, by Belch's estimates, half of all managers have never dealt with a holiday rush. Belch's platform allows managers to be better prepared to deal with surges in foot traffic and to offer guests a better experience on such a hectic day, he said.
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