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Channels with Peter Kafka
The Importance of Mark Lorry in Retail
At the time that Doug McMillan took over a CEO of Walmart in 2014, he was telling executives internally, even his board, that Amazon was in fact an existential threat. If we don't move faster, really cut into this giant market share gap that there was online, we may not exist a couple of decades from now. So I think he believed it. We've seen some progress over the years of Walmart getting more digital savvy. They look back and their market share is 1% and they're in a lot of trouble in online retail.
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