Takeaways for Walmart’s future
by Clint Lazenby, Talk Business & Politics (AR)
Apr 1, 2021
Lazenby is the co-founder of Legacy Retail Solutions
Each year, Walmart hosts a biannual investor summit. The investment community has an opportunity to hear from Walmart’s leadership about company performance, visibility in the upcoming year and insights into the evolution in strategy.
This year’s meeting felt different. It was somehow more exciting and robust and not simply because of the pandemic challenges explored. CEO Doug McMillon teed up the meeting in his opening remarks discussing how today’s Walmart is not the one of yesterday, and it’s not the Walmart of the future. It is one of evolution and adaptation. It was great to see the passion and verve from the team’s entirety around the idea that Walmart is “in the early stage of building a new business model” designed to put the consumer at the center and serve them through an integrated ecosystem of services and products.
BUSINESS MODEL TRANSFORMATION
Previously, Walmart’s leadership has focused on investments in different countries to fit the company’s growth initiatives best. This year they have taken it several steps forward and examined their capabilities and areas where consumers have unmet needs for which Walmart can uniquely provide solutions. Further, they identified areas where the company can generate better returns by addressing suppliers’ needs.
The road map laid out is much broader than traditional retail or e-commerce. It is one of service and services. We can expect to see more focused activity in healthcare, financial services and payments, and e-commerce supplier services such as advertising networks and fulfillment in the intermediate-term.
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