Wal-Mart (WMT) is set to launch 'Store No. 8," a technology start-up incubator in Silicon Valley, Bloomberg reports, citing comments made by e-commerce chief and Jet.com founder Marc Lore at the ShopTalk conference in Las Vegas.

The aim of the incubator is to identify promising start-ups that are developing virtual reality, drone delivery, autonomous vehicle and personalized shopping solutions that can make the retail experience more appealing, the report adds. The move is an effort to win back customers from online-only stores such as Amazon (AMZN). Reference link.