Walmart gets more serious about Amazon rivalry, announces new e-commerce service

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"We are well positioned to win the future of retail and I wouldn't trade places with anyone".

U.S. retail giant #Walmart is getting some big changes this year.

Walmart on Tuesday said it expects its USA ecommerce business to grow sales by roughly 40 percent in the upcoming fiscal year. It is also planning to do the same returns process for items bought from third-party sellers on its site. People who made some online purchases and then need to return them can do so by starting the return process on the Walmart mobile app.

This offer will initially be available on select household items, such as shampoo and color cosmetics, with other items to be added over time.

Wal-Mart Stores introducing a simplified return process in early November for items sold and shipped by, to be followed by a simplified process for store purchases early next year.

Eckert also said that under the new return policy, customers would be able to get a refund right away, while the store no longer has to bother with processing a damaged or defective return.

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When asked how Wal-Mart will prevent customers abusing the new "keep it" option, Eckert said on a call with the media that the company has invested in technology to make sure the service isn't taken advantage of.

It's estimated that US shoppers return more than $260 billion worth of items every year.

In the summer, the group had reported that online sales had surged a whopping 60% during the second quarter. Once completed, they can go to their local Walmart store, and enter the Mobile Express Lane. You then return the item to the associate and then wait for at least a day for the money to be credited to your account. Walmart expects to roll out even more app features that make shopping faster, easier and more convenient in 2018.

And bucking the trend in a retail industry where many rivals are paring their store fleets, Walmart said it plans to open a few more stores: it expect to open fewer than 15 SuperCenters in the USA next year, a small uptick to be sure, but additional physical facilities to support its roughly $15 billion a year e-commerce business.

A customer watching as a delivery person drops off Walmart groceries in her fridge.WalmartWalmart's plan to take on Amazon involves entering customers' homes to restock groceries.