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.”
Wal Mart could buy a fleet of vans and do their own delivery...
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My guess is that they would prefer to contract with a delivery
company rather than invest in one.
Amazon does have some physical stores. Amazon also now owns Whole Foods.
Walmart’s problem is salary for their employees. Who wants to deliver products from Walmart for minimum wage?
They pay more than you think...you may start at minimum but not for long if your any good
Where I live Hobby Lobby 15.75 to start full time..
Whatever happened to all those pesky monopoly laws?
I really liked the Woolworths when I was growing up. Classic childhood memories.
And there is a Browns Shoe store in the next town over I have been using exclusively for the last 15 years at least.
I miss Meijers. (I know, they’re not gone, but I’m not in the Midwest, at the moment)
As for Wally World vs Bezos, I wish them luck. They’ve got some catching up to do.
If/when the day comes that I can look up my desired widget on WM.com and get 2 day delivery (with included tracking) for free on my order, it’s goodbye Bezos.
That’s Hobby Lobby. Walmart pays as little as they feel they can get away with. I know, I used to be employed by them.
They once floated that cashier’s would deliver 4-5 online purchase packages with their own vehicles on their way home after shift. Who wants $9 an hour with no pay for use of one’s own personal vehicle to deliver packages on their way home after shift?
For your interest.
Well first you have to be a monopoly for them to apply. Which Amazon very much is NOT. They don’t have a majority of any business they’re in. Heck they only have a plurality in a couple. Not even close to a monopoly.
Does online retail count as a business?
According to Stores.org Kroger is #2, Amazon is number 7:
https://stores.org/stores-top-retailers-2017/
Not sure how they work their math.
a good idea.
Now, if we could “TURN OFF” ABCNNBCBS 24x7 TV coverage in the repubbie Senate and House waiting rooms and aides’ monitors.
Because of the variety of items they sell it’s a footprint in about 2 dozen businesses (media, electronics, clothes, etc). But even if you roll it all into one (e-commerce) Amazon is only 44%, which puts them at 4% of all retail. They’re climbing, they might actually top 50% of e-commerce after this year. But still what market is that a monopoly in? Beauty supplies (their biggest gainer lately)?
“Baseball cards were #10 in 1970? That’s kind of bizarre.”
You got a problem with that?
I was a big consumer of Tops baseball cards (and crappy gum) in the 1970s. Cutthroat trading rules. You wouldn’t want to get caught in the middle.
I’ve had credit card snafus like that,
yes indeed.
But this time the WM webpage would not let us even get to the page where you enter your CC number....
I’ve often considered trying to reach a top level executive there. They could substantially improve their sales volume with just a few small improvements.....
maybe I could help them ?
smile smile smile
Is that sales or market cap? I’m sure it’s market cap with sales more like $77B.
they got my money on Black Friday. The Walmart close to me even carries pelleted livestock feed and their online store has become comparable to Amazon without the membership fee - they have just about everything. Gotta admire their leadership.
Market Value. Earlier this year.
It’s Almost a Trillion Dollar Company.
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