Walmart CEO says company lags on e-commerce
Bentonville, Ark.-based Walmart has had to make major adjustments to keep up with e-commerce and, more specifically, with Amazon after first falling behind, according to CEO Doug McMillon.
According to MarketWatch, McMillon spoke at Fortune’s Brainstorm Tech conference and said that the company has been undergoing a transformation to meet consumers’ new shopping demands.
“Obviously bricks-and-mortar stores are one thing. E-commerce in some ways started out feeling like an independent channel or an independent business,” McMillon said at the conference, reported by MarketWatch. “Yeah, we fell behind and have been playing catch up and have been doing a number of things to accelerate that progress and learning along the way and getting better as it relates to the customer experience.”
McMillon also believes that there is no shame in adopting best practices from their competition. With regards to e-commerce giant Amazon he highlighted innovation and speed among qualities to be replicated, according to MarketWatch.
“We’re not proud, we’re not egotistical,” McMillon said. “If somebody’s doing something better than we are, let’s copy and paste what we should. In the case of Amazon and others, clearly customers are responding to convenience.”
To read the MarketWatch article, click here.