What: Walmart is looking for new sources of income beyond retail.

Why it is important: They want to make the most of the “ecosystem” they are building, beyond stores and e-commerce. This is an echo of the notion of “audience” we promote at IADS: each department store should find its own voice, to address the right community. Ultimately, the community of customers is the most important asset and strength.

Walmart is planning to make the most of its audience (150 million unique visitors a day) to diversify beyond retail. This strategy follows what Apple and Amazon have been doing: selling services over products. The success of Walmart + emboldens the retailer to think outside the box: provide healthcare services to its app users, sell the screens in its 4,700 locations as advertising spaces, use its parking lots for events.

The topic will be addressed during our next Cross-Functional meeting scheduled for 26 April 2021, on “new business models, new sources of income”.

Why Walmart is looking to beyond retail for future growth