Walmart playing 'catch up' in e-com, CEO admits

23 Jul '19

1 min read

Pic: Shutterstock

Walmart chief executive officer (CEO) Doug McMillon recently admitted the company has some major adjustments to make to keep up with its rivals’ e-commerce game. “...We fell behind and have been playing catch up and have been doing a number of things to accelerate that progress,” McMillon told the Fortune’s Brainstorm Tech conference in Aspen, Colorado.

McMillion argued that retail has evolved into an omni-channel world, where Walmart’s 11,300 stores are a benefit.

Amazon’s innovation and speed are possible for Walmart to replicate, Western media reports quoted him as saying.

The retailer is launching a number of new tech initiatives this summer, including an in-home delivery service allowing customers to get items delivered to their fridge while they are out, community solar gardens to help it reduce its energy bill, and through its efforts to tackle Amazon’s monopoly of the drone delivery market by filing nearly twice as many patents over the past year as it did the year before. (DS)

Fibre2Fashion News Desk – India

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