Posted on 12/07/2018 1:38:54 PM PST by Red Badger
Walmart’s Doug McMillon keeps a list of the top 10 retailers over the decades to remind him you have to innovate and adapt constantly. Becky Quick | CNBC
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Walmart CEO Doug McMillon keeps a photo on his phone that lists the top 10 retailers in the U.S. over the past few decades to remind him how so many companies come and go. Walmart wants to keep its No. 1 spot, which it’s held since the 1990s when it overtook Sears.
“After learning from so many people ... we know that retailers come and go,” McMillon told CNBC’s Becky Quick Thursday, after he spoke in Washington, D.C., at the Business Roundtable CEO Innovation Summit. “Businesses grow and they don’t change enough and they decline over time. Retailers do that on a bit of a faster cycle.”
McMillon added Walmart has a “healthy paranoia” to stay ahead of rivals. Today, the retailer is seen as neck and neck with Amazon, which is starting to invest more in real estate and open stores while building out a bigger platform for food and apparel online. In fact, the e-commerce giant is expected to overtake Walmart as the No. 1 apparel retailer in the U.S. by the end of this year, according to Morgan Stanley.
Walmart, in turn, is fighting back by acquiring digital brands and remodeling its stores — two key parts of its growth strategy. Thursday it announced its plans to acquire Art.com to bolster its home decor business, following recent acquisitions of lingerie brand Bare Necessities and plus-size clothing retailer Eloquii. It’s said it could one day own as many as 40 e-commerce businesses, while Amazon has taken a different approach to growth. Instead, it continues to partner with established brands like Nike and J.Crew to sell their merchandise on Amazon.
“You see the rise and fall of Sears and others,” McMillon said. “It’s just a reminder that this can happen to us too.”
Walmart was a huge retailer when Amazon was an obscure online book store.
Walmart already had massive distribution centers and a logistics/supply chain supplying all their stores, including their own trucks, all while Amazon was slowed and hampered with having to develop their own infrustructure.
All Walmart had to do was push their online presence and invest develop their own delivery system and they’d have exploited a killer head start. That last part is no easy task, and it’s still a huge problem for Amazon, but Walmart dropped the ball a long time ago.
Clearly he has a crappy phone...
Walmart should buy uber or lift and use for same day delivery.
They failed to realize that the Internet was the future of retail, as did many others, Sears just being the latest victim of their own shortsighted management.
Our Sears is closing at the end of the month, and our K-Mart won’t be far behind.
We have lost so many stores over the years, Zayres, Radio Shack, Grant, TG&Y, plus some local department stores, all we have left is Walmart, Target and Pennys, and Target and Pennys are usually near empty...................
That may not be his phone..................
Walmart already had massive distribution centers and a logistics/supply
chain supplying all their stores, including their own trucks,
***********
Interesting, today I was at Walmart for a few items. They had
two 18 wheeler trailers parked in their lot with no tractor attached.
They are preparing for the winter storm expected along the east coast
is my guess.
WM needs more items on its website order page. And today the site refused to let us pay for an order. Amazing! The site kept going around in a stupid loop. We love WM but today we were forced to take our business elsewhere. We hope WM gets improved and we csn return to them soon.
Baseball cards were #10 in 1970? That’s kind of bizarre.
That happened to me once about a month or so ago.
Seems that there was a problem with my credit card company not allowing on-line purchases, for ‘my protection’...................
Topps
American manufacturer of chewing gum, candy and collectibles ...............
Maybe he took it from a shopper?
Walmart already lost this race....about 10 years ago.
Once upon a time, WalMart’s slogan was, “We buy American.” Then, Sam Walton passed away...
***Walmart was a huge retailer when Amazon was an obscure online book store.***
We can also remember that SEARS, K-MART, PENNEYS, WARDS, WOOLWORTH’S were huge retailers when Walton’s was still a 5&10 cent store on the west side of the square in Bentonville, Arkan-saw.
Wal Mart here has home delivery..SW Florida....great for all the old people who cannot get around..they also have pick up at the store..
I think Publix has started home delivery...in the Orlano area..
Wal Mart could buy a fleet of vans and do their own delivery...
That photo is full of crap.
2017 - Kroger is ahead of Amazon??
Interesting. Since Kroger is a 112 Billion Dollar Company.
And Amazon is at 702 Billion.
My wife has ordered from Walmart online many times and had them sent to our local Walmart market. That avoids items being damaged or lost by USPS, UPS, Fedex or AMZL(Amazon shipper).
Walmart has much better service than Amazon ever imagined.
Sears is the one who really missed the boat....Amazon is nothing more than an on line catalog...
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