Walmart Buys Small Online Stores Catering To Higher-End Customers

Walmart is buying small, niche-focused online retailers that cater to high-end consumers as part of an effort to compete with Amazon.com. Among the hipster websites acquired by the retailer are clothing retailer ModCloth, outdoor specialty retailer Moosejaw, and online shoe store ShoeBuy. These deals give Walmart access to new brands and higher-spending consumers not normally associated with the retailer. The purchase of the websites, however, has alienated some of the stores' customers, especially those who value independence.