Retailers are finding ways to survive in the ‘new normal’ as the future of many will depend on how successfully they combat the crisis.
Every retailer is working – and reworking – its strategies to make situation conducive for them. Walmart too has its own plans.
The US retail stalwart has announced its plans to slash some corporate roles as a part of its cost-cutting strategy. However, it did not share the details about how many jobs will be exactly impacted by this decision.
There are reports that jobs cuts could be made across planning and logistics sector as well.
The retailer is, reportedly, aiming to build an omnichannel organisation within its US business and here it is imperative to mention that recently it combined its buyers’ teams of both online and retail with the intent to reduce the dispute over product price on digital platform and stores.
During the last few months, when things were tough, e-commerce sales for the retailer surged by a whopping 74 per cent in Q1. This was followed by some significant agreements with ThredUp in May and Shopify in June to increase the assortment of products.
Also, the tie-up has now helped the retailer to add new brands to its digital platform.
With corporate job cuts, merger of digital and in-store business as well as signing of important agreements, Walmart is constantly reworking on its strategies to survive – and importantly succeed – in these challenging times.
The retailer generates revenue of US $ 523.964 billion.