Ramping up Walmart+ features and membership "We're really excited about what that means throughout the supply chain - cost-wise, productivity-wise, but also as it relates to the associate experience," McMillon said, noting that automation can make it a "dramatically different job" for workers when the tech can make pallets "department-ready" when loaded and improve the accuracy and management of inventory. McMillon said Walmart now has "high confidence" in the productivity that automation can achieve following work over the last year or so with startup partners. have both been at "full employment" in recent months with a few gaps in certain geographies or skill sets, executives said.ĭigital innovations are also changing the nature of work. Labor challenges begin to abateĪfter a challenging labor front for retailers last year, Sam's Club and Walmart U.S. In the future, Walmart is planning for two value propositions depending on how the economic landscape continues for consumers: It can leverage its low-price reputation if shoppers become even more price-conscious or, if price becomes less of an issue, the retailer can lean into its convenience options, especially around digital shopping, McMillon said. Judith McKenna, president and CEO of Walmart International, noted company leaders around the world who have "deep experience" in inflationary times are helping the retailer's different teams, including Walmart U.S., navigate the current landscape. "We make money in fresh food and in dry grocery, and we can manage inflation in those areas," he said.Įxecutives emphasized Walmart's Every Day Low Price strategy as a way to continue to attract shoppers across discretionary spending levels and said that among its wide range of suppliers, the company has managed to work with some to find ways to reduce costs. McMillon said Walmart is keeping the closest eye on its most value-conscious consumer group and how they are impacted by high food costs for staple grocery items such as rice, beans, pasta, tuna and milk. "I am concerned about the inflation rate, and should it stay at this level or go up and be there for a sustained period of time - I think that has a negative impact on too many families," McMillon said.
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