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

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. 

Related Links:

How Empathy Will Save Brick-And-Mortar Retail

The Holiday Season Has Been Kind To Discount Retailers, Not So Much Toward Department Stores

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorCNBCSportsTop StoriesAnalyst RatingsTechMediaTrading IdeasGeneralDerek BelchretailersSTRIVR Labsvirtual realityWalmart
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!