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Walmart’s Innovations Keep The Company Relevant

 

 

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Walmart, one of the most recognizable U.S. retail brands, actively invests in technological innovation to improve customer service levels and remain relevant.

For example, the company has invested in robotics to enhance its online grocery pickup service. Customers appreciate significant benefits from these robotic carts which quickly gather and retrieve their online orders. Walmart also has plans to roll out autonomous vehicles for home deliveries.

Additionally, the company uses VR headsets to train store associates to improve their customer service levels. One VR scenario has employees practicing in a “Black Friday” setting, where stores are overwhelmed with customers; this technology supports and educates staff in their ability to identify issues that may arise and how to overcome them ahead of time.

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The Evolution Of Walmart

Arguably, Walmart's ability to embrace these types of innovation has been what has kept the company relevant and competitive throughout the years. Walmart began modestly, opening its first store in 1962 in Rodgers, Arkansas. However, the company grew at an impressive rate, and 276 stores were operating across the country by the start of the 1980s. By 2018, Walmart was achieving revenues of $500 billion, which is higher than the GDP of Belgium!

Yahoo Finance recently conducted a study to identify the locations of more than 4,700 Walmart stores in the U.S. and Puerto Rico. The research revealed that the retailer rules the U.S. thanks to a ubiquitous presence across the country, with most Americans living within just 15 miles of a Walmart store.

The diagram below illustrates the distribution of Walmart stores across the entire country. As you can see, the locations are just about everywhere!

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Walmart Will Be At RILA

Walmart will be attending the RILA Retail Supply Chain Conference between Feb 24 to 27, one of the largest retail supply chain conferences in the world. Gravity Supply Chain Solutions will also be at RILA, and located at booth 1335. If you’re at the show, pop over to our booth, and let’s talk about innovation in the retail supply chain industry, or any other relevant and trending topics you'd be keen to discuss!

Download The Whitepaper On Supply Chain Synchronization

If you’re a retailer and want to compete with successful brands like Walmart, your supply chain needs to be synchronized to ensure that all parts of the chain run seamlessly together, and do not bottleneck one another. Download our latest whitepaper to understand how to achieve supply chain synchronization.

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