Wal-Mart unveils ‘Store No. 8’ tech incubator in Silicon Valley

FILE PHOTO -- Shopping carts are seen outside a new Wal-Mart Express store in Chicago July 26, 2011. Wal-Mart Stores Inc reporterd a higher-than-expected quarterly profit May 19, 2106, as sales in the U.S. market rose, sending the retailer's shares up nearly 10 percent. REUTERS/John Gress/File Photo

Wal-Mart Stores Inc is creating a technology-startup incubator in Silicon Valley to identify changes that will reshape the retail experience, including virtual reality, autonomous vehicle and drone delivery and personalised shopping. 

The incubator will be called Store No. 8, a reference to a Wal-Mart location where the company experimented with new store layouts. Marc Lore, chief executive officer of Wal-Mart’s e-commerce operations, announced the incubator Monday at the ShopTalk conference in Las Vegas.