It's really simple: If you're not meeting the wants and needs of the customer, you're done. There's not a lot of loyalty here.
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I think real estate is really core, but you just nailed why I'm still here and loved retail - it's because of the breadth of it. I didn't appreciate how interesting retail was until I got started. You have to have a customer relationship, but you need leadership skills, servant leadership characteristics.
Customer satisfaction has always been the number one goal for retailers, and in the future, customers will be more empowered than ever to drive the change they want, as they get more control over their shopping experience.
Always thinking about the customer value proposition is including price, assortment, experience, and trust, and all of those have been changed by technology and been changed by e-commerce, and so leading up to the moment when I took this role, there was an understanding that we needed to invest in e-commerce, grow e-commerce, but we didn't take it seriously enough.
There were several people that realized the customer is telling us something and the idea of a broad assortment delivered to your home is appealing.
One way to think about Walmart is a very large river of merchandise, moving from raw material to a customer and anytime that river of merchandise has imperfections, we either have an out of stock or we have some sort of overstock that creates additional costs, labor markdowns, accidents, damages.
We grew this business with the store operators and the merchants making all the decisions, I got to be one of the merchants and it was a lot of fun. But to put the customer in charge, you have to start with design.
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