Bloomberg Talks Sam's Club President and CEO Chris Nicholas Talks Consumers & Tariffs
Sep 24, 2025
Chris Nicholas, President and CEO of Sam's Club, shares insights on consumer behavior in light of tariff uncertainties during the Bloomberg Global Business Forum. He explains that shoppers remain rational and value-focused, with unit sales growing faster than prices. Nicholas discusses strategies to manage tariff pressures without significant price increases and highlights the club's strong holiday inventory readiness. Emphasizing the importance of operational control and company culture, he also explores AI adoption to enhance member services.
AI Snips
Chapters
Transcript
Episode notes
Consumers Stay Rational
- Sam's Club sees consumers as consistent and rational despite uncertainty.
- Customers respond predictably when given great items at great prices.
Club Model Drives Value And Loyalty
- Unit growth outpacing item price growth shows members buy more when value is clear.
- The club model's low-item, low-margin approach amplifies loyalty through membership revenue.
Manage Tariff Costs With Supplier Changes
- Work with suppliers and redesign packaging or processes to absorb tariff-driven cost increases.
- Delay and minimize price pass-through so consumers feel less immediate impact.