MR is at the heart of the transformation of Wal-Mart, the world's biggest retailer, according to a speech by President and CEO Lee Scott at a shareholders' meeting last Friday. The 'Wal-Mart Out Front' initiative rests on five 'pillars' of which the first is an MR-based broadening of its customer appeal.
Scott quoted the company's founder Sam Walton saying 'You can't just keep doing what works one time. Everything around you is always changing. To succeed, stay out front of that change.' He went on to detail the transformation he has in mind, beginning with broadening the retailer's appeal to all customers.
Scott said in-depth marketing research is enabling Wal-Mart to develop a better understanding of its customers, and that experimental stores in Chicago and Plano, Texas have contributed to this. More such stores will be built in the coming months, with the aim of improving service to Hispanic customers, rural customers and Baby Boomers. He added: 'We are putting more contemporary ads on television and new signage in our stores. This year you will see Wal-Mart advertise in places we never have and many would never expect us to.'
The other four pillars are:
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.
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