Tom Ward, EVP and Chief eCommerce Officer, talks about achieving the biggest quarter ever. They discuss the growth of the eCommerce business, converting stores into hybrid locations, and the importance of in-person shopping and online fulfillment. Other topics include customer behavior, last mile delivery, and adapting to meet evolving customer needs in the retail industry.
Walmart achieved its biggest quarter ever with $105 billion in sales, driven by a 70% growth in e-commerce over the past two years.
Walmart recognizes the evolving needs of customers and aims to connect different points of convenience, such as in-store shopping, curbside pickup, and delivery, to further enhance their shopping experience.
Deep dives
Impressive sales growth and shift in consumer behavior
The podcast highlights the impressive sales growth of Walmart, reaching 105 billion in the last quarter. It discusses the significant shift in consumer behavior over the past two years, with a 70% growth in e-commerce. The episode acknowledges the challenges posed by the pandemic, including stockpiling, transitioning back to in-store shopping, and the unprecedented supply chain challenges. However, the team at Walmart successfully overcame these challenges and achieved exceptional performance in fulfillment centers, stores, and distribution centers.
The evolving role of stores and customer convenience
The episode emphasizes the transformative role of Walmart stores in today's commerce landscape. It highlights that stores have become the center of commerce with the ability to serve customers in different ways. Walmart recognizes the changing needs of customers who expect convenience and savings. The episode mentions various ways in which customers engage with Walmart, including in-store shopping, curbside pickup, delivery, and even allowing Walmart into their homes to maintain stock. Walmart aims to connect different points of customer convenience further and believes there is still much potential for growth in this area.
Focus on last mile delivery and innovative solutions
The podcast emphasizes Walmart's focus on last mile delivery and the importance of connecting various components of their supply chain. It highlights the success of using stores as fulfillment centers, where personal shoppers pick items and deliver them within a few hours. The episode mentions Walmart's experimentation with drone delivery, providing customers with the convenience of same-day delivery for items like cereal. Walmart recognizes the importance of embracing change and staying ahead of customer needs to offer the latest and greatest solutions. It emphasizes the significance of solving customer problems rather than solely focusing on delivery mechanisms.
Today we released our Q4 Earnings results, and we achieved the biggest quarter our business has ever had! Our eCommerce business has grown more than 70% compared to two years ago, and we’ve moved quickly to convert our stores into true hybrid locations – used for both in-person shopping AND online fulfillment. John Furner talked more about this with Tom Ward, our EVP and Chief eCommerce Officer, in a special Earnings edition of The Huddle. Tom is a long-time associate who was an architect of our Pickup and Delivery capabilities and was recently leading our Last Mile innovations. Thank you again for another strong quarter, and now let’s keep it up!
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