Business

We’re Updating Our Legal Name to Reflect How Customers Want to Shop - Here's Why

Today we announced that we are changing our name from Wal-Mart Stores to Walmart. Why the change? Because of our growing presence as a retailer who serves customers no matter how they choose to shop.

Most of us, and I’d guess all our customers, refer to our company as Walmart and still will. Changing our corporate name from Wal-Mart Stores, Inc., to Walmart Inc. is just a symbol of how customers are shopping us today and how they’ll increasingly shop us in the future. Whether it’s in our stores, on our sites, with our apps, by using their voice or whatever comes next, there is just one Walmart as far as our customers are concerned. When they shop with us, they expect it to be an easy and seamless experience.

Changing our corporate name to Walmart is a way of better reflecting our company’s path to win the future of retail. It’s also a bit about returning to the company’s roots. You might be surprised to learn that, when Sam Walton opened the first store in 1962, the name on the front of the building was simply, “Walmart.” A few years later, we incorporated as Wal-Mart, Inc., and amended the name to Wal-Mart Stores, Inc., when we went public in 1970.

For our associates, while our new legal name removes the dash, we’re not planning to change the Walmart cheer. Getting our blood flowing and choosing not to take ourselves too seriously is still part of our culture. It’s important to have some fun at work, so for our associates in countries where your cheer calls for the squiggly, keep doing it!

We began with great stores and steadily expanded to include clubs and distribution centers. In 1991, we became a global retailer when we opened our first international location in Mexico City, and we launched Walmart.com in 2000. Today we operate under almost 60 different banners around the world, including eCommerce sites, and have more than 11,600 stores and clubs in 28 countries.

Now, we are focused on strengthening stores and clubs around the world to make sure customers continue to have a great experience every time they walk through the door. At the same time, we’re also building our eCommerce and digital capabilities, and we’re putting them together in a way that makes every day easier for busy families. Sam Walton said, “To succeed in this world, you have to change all the time.” He wouldn’t have known that customers in the future would shop on their smart phones or with their voices, but he did know that retail would continue to change. He taught us that, and that for a company to succeed, it has to be agile and innovative.

Even though our corporate name has changed, what won’t change is that Walmart will be there for customers—saving them money and time and helping make every day just a little bit easier.

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Innovation

That's Smart: See the Tech Helping Us Serve You Better

Technology helps us save time.

Whether it’s at work or at home, things like a smartphone or a car’s voice-activation software free up valuable minutes of your day.

That’s exactly the idea behind something new we’re testing in a small number of our stores: using automation to handle tasks that are repeatable, predictable and manual, like scanning shelves for out-of-stock items, incorrect prices and wrong or missing labels. This new shelf-scanning technology frees up time for our associates to focus on what they tell us are the most important and exciting parts of working at Walmart – serving customers and selling merchandise.

We’ve tested this technology in a small number of stores in Arkansas, Pennsylvania and California. And based on these initial tests, we’re expanding it to an additional 50 locations. As with anything we roll out to our stores, the feedback from associates and customers will guide us in how and where we use this technology in the future.

This combination of people and technology is helping make our stores more convenient and easier to shop, ensuring that products are available when our customers want them. It’s just another example of how we’re using technology to save our associates and customers time.

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Business

Who is Parcel? What This Delivery Company Means to Walmart

The newest member of the Walmart e-commerce family is Parcel, a technology based, same-day and last-mile delivery company specializing in perishable and non-perishable delivery to customers in New York City. They also provide services like scheduled evening delivery and custom text message notifications for high-growth e-commerce companies looking to differentiate their customer experience.

So, what does this all mean for Walmart? We caught up with Nate Faust, senior vice president, Walmart U.S. eCommerce Supply Chain, to find out.

Why acquire a delivery company?

Delivery is increasingly one of the most important elements for today’s online shoppers, as demands for speed, flexibility, and reliability continue to grow. That’s why my team spends a lot of time thinking about ways we can make deliveries faster and more convenient for customers. Parcel is a proven leader in e-commerce package delivery, including taking fresh, frozen and perishable food, the last mile – that is, the last step in the shipping process as products make their way from a fulfillment center to your door.

What are your plans for Parcel?

Parcel has partnerships with several meal kit, grocery and e-commerce companies, and has delivered more than 1 million meals in the past two years. So our immediate plan is for Parcel to continue serving its existing clients and growing its customer base. There’s a lot of upside and I’m excited about the potential there.

But I see even more upside for our own same-day deliveries. Jet has been testing free same-day delivery of certain orders to customers in New York City. We can build upon that and plan to leverage Parcel for last-mile delivery to customers in New York City – including same-day delivery – for both general merchandise as well as fresh and frozen groceries from Walmart and Jet.

Jesse Kaplan, CEO and Founder of Parcel

Can you tell us more about their operations today?

Parcel is a 24/7 operation that delivers packages the same day, overnight and in scheduled two-hour windows. They’ve built a technology platform from the ground up to automate their operations and provide clients and customers with live updates throughout the delivery process. From a warehouse in Brooklyn, Parcel receives packages destined for customers throughout New York City. Using routing algorithms, a fleet of leased trucks, and a professional, employee-based workforce, they’re able to quickly sort and load packages for delivery routes.

How much did Parcel’s New York location factor into the decision to acquire them?

New York City is the top market for both Jet and Walmart.com, and because of the density of the area – along with the proximity of our fulfillment centers – it’s the perfect place for high-impact innovation. Born and bred in New York City, Parcel has developed unique expertise delivering to customers in a distinctly challenging and essential market. This acquisition allows us to continue testing ways to offer fast delivery while lowering our operating costs.

Outside of large metro areas, do you think customers really want same-day delivery?

Customers’ expectations around delivery and what is possible have changed significantly in the past couple of years. Whatever they need and however they’d like it, we aim to provide – including the ability to offer last-minute ordering with same-day delivery service.

And while customers are looking for low prices, we also know they want convenient experiences that make shopping easier. It’s why we’ve focused on creating more options to meet their needs, such as our free two-day shipping to home, our pickup discount and free online grocery pickup service. It’s also the reason we’ve been testing a number of different innovations at Walmart and Jet to further enhance how we serve customers even faster, with programs ranging from associate delivery to in-building and in-fridge delivery with Latch and August Home. We’ll continue to explore more ways to give customers the freedom to choose how, when and where they receive their orders from us.

For additional facts about Walmart's acquisition of Parcel, check out this fact sheet.

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Business

Walmart's Secret Advantage to Serving You This Holiday Season

The holiday season is a busy time of year at Walmart.

From October through December, hundreds of millions of Americans will visit more than 5,000 Walmart locations to shop for gifts, grab last-minute items for holiday meals and take advantage of special deals that come but once a year.

Now, more than ever, Walmart and its associates will be ready for them.

Based on the success of a similar effort in 2016, the company announced it will be offering extra hours available this time of year to our current associates, rather than hiring thousands of seasonal workers.

“Our associates make the holidays come to life in our stores, and we are thankful for everything they do,” said Judith McKenna, Chief Operating Officer. “As we head into our busiest time of the year, we know associates are ready to deliver for our customers and help give them a memorable and affordable Christmas.”

These extra hours will help staff traditional roles like cashier and stocker, as well as newly created, technology-empowered positions in Walmart’s growing online pickup department.

Here are three big reasons why the company is investing in its people for Holiday 2017:

  1. The way customers shop is rapidly changing. Walmart expects new services like Online Grocery Pickup to take off with the holiday cooking crowd, making the company’s specially trained personal shoppers an even more indispensable part of the team.
  2. The company’s Holiday Helpers program was a huge success last year, and in 2017 Walmart is increasing the number of Helpers across its fleet of stores. These associates are dedicated to helping customers get through stores faster by finding the shortest checkout line and opening registers as needed. They’ll even run to grab items customers may have forgotten, so they don’t lose their place.
  3. Walmart has increased its focus on service through new training, tools and technology. Thousands of associates have completed the company’s Pathways and Academy programs, which prepares them to more effectively serve customers during this busy season.

“The holidays are a special time of year for our customers and associates,” McKenna said. “This is what working in retail is all about, and we know our people have the passion to do even more this year.”

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Business

One Year Ago, We Welcomed Jet … and the Winners are Our Customers

When the Jet.com deal closed one year ago, many people asked, “Why Jet.com?”

At the time, we’d strengthened our e-commerce capabilities and were looking for the right partner to accelerate our efforts. So while it was a logical question to ask, the answer was really quite simple: Jet was the right partner at the right time. Both Walmart and Jet have a deep commitment to serving customers, and saving them money and time. By coming together, we could do all these things, better.

That’s exactly what we’re doing. In August, we partnered with Google for voice shopping. Earlier in the year, we launched Easy Reorder, a feature in our mobile app that helps customers easily access a list of items they purchase most frequently. We also launched free two-day shipping on millions of items – without a membership fee. And we’ve steadily expanded our merchandise assortment. This time last year, we had just reached 15 million items available on Walmart.com and today that number is 67 million items and rising.

We’ve welcomed other innovative online retailers to the Walmart family, including Bonobos, Hayneedle, Modcloth, Moosejaw and Shoes.com. Each of these acquisitions has helped strengthen our expertise in key product categories, provide an expanded assortment and a way to reach new customers. We’re able to provide these new companies the benefit of Walmart’s scale to lower their operating costs, which allows each to invest in the customer experience and grow the business.

We’re also seeing the power of our stores and e-commerce coming together to serve customers. We’re removing friction from our shopping experience – focused on making it fast, easy and fun for customers. Walmart customers now receive a discount for store pickup rather than home delivery, which we can offer by using our vast supply chain and store network to create efficiencies. With stores located within 10 miles of nearly 90 percent of the U.S. population, it’s convenient for many of our customers, and saves them money.

In addition to 1,000 grocery pickup locations in the U.S., we’re testing associate delivery of Walmart.com orders in a few stores. By the end of the year, we’ll have approximately 100 automated pickup towers in stores across the country, where customers can pick up their orders within a matter of minutes. And we’re excited about the growth we’re seeing across our e-commerce portfolio. One important metric, Gross Merchandise Value, grew 69 percent in the first quarter this year, and was just as robust the next quarter at 67 percent. That’s proof customers are responding.

Marc Lore, who founded Jet, and now leads our U.S. e-commerce efforts, has proven to be the digital embodiment of Walmart. He has a fanatical focus on serving customers and creating the next generation of everyday low prices. It’s energizing how he and Greg Foran, CEO of Walmart U.S., and their teams continue to partner closely to delight customers in new ways across our apps, sites and stores.

I’m excited about how far we’ve come together, and even more excited about what’s ahead. Here’s to another great year of finding more ways to save our customers time and money, and delivering an easy and enjoyable shopping experience.

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