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Wal-Mart Is Using The Same VR Training As Professional Athletes

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Wal-Mart Is Using The Same VR Training As Professional Athletes

Why is Wal-Mart Stores Inc (NYSE: 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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Latest Ratings for WMT

DateFirmActionFromTo
Sep 2019AssumesBuy
Sep 2019MaintainsOverweight
Aug 2019MaintainsOutperform

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