External consultant for walmart

Topic: external consultant for walmart

 

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As reported at CNBC on Monday 2nd November (and referenced in my blog the same day), Walmart is turning four of its 4700 stores into laboratories to test out new e-commerce and AI strategies. Your task is to serve as external consultant for Walmart. Help them design better brick-and-mortar stores that drive e-commerce. This is something that Amazon does not have, and could ultimately be Walmart’s big advantage, not an albatross around its neck. Until recently, Walmart actually had two separate teams of buyers, which ultimately was a big disconnect. They are now merging those teams so they can work together. Your job is to make all of this happen. the blog he is talking about:In The Lab As an academic researcher, I dream of having my own laboratory. It’s a place in which I could get lost in endless research projects and mountains of data, have a team of student workers eager to learn, and have work stations covered with powerful computers. But, as an academic, and particularly one in business, it is rare to find laboratories like that. Business is an applied discipline for the most part, even if we conduct highly quantitative research, and it takes money–usually donor money–to make that happen, not to mention a bunch of hoops to pass through. A guy can dream, right? But when you are privately-funded, like a market research agency or a corporation, you can do whatever you want or need to get the job done. I have read of research companies with laboratory supermarkets in which they pay participants to be exposed to some type of stimulus (which could be anything, from prototype ads to in-store displays), and then see how they act in the lab store. It’s not perfect, because they are using play money to shop, thereby relieving any financial consequences from their actions, but it gives us a peak into the psyche of the average consumer. Even better is when a corporation is so large it can just turn over four of its fully-functioning brick-and-mortar stores to be research laboratories, like what Walmart is doing. Customers won’t even notice, but there will be a lot of changes going on behind the scenes to test out new operating plans. image Essentially, Walmart wants to design its stores better, as well as perform mundane tasks like inventory management, so that the brick-and-mortar store will be a portal that drives e-commerce sales. The company’s e-commerce sales have doubled, thanks to the pandemic. While plans were laid for these lab stores prior to the pandemic, the timing could not have been better to motivate the company to follow through and do what it takes to keep their e-commerce sales on a steep trajectory. There is plenty of room for improvement, because the company was, until recently, using two separate teams of buyers, one for in-store and the other for online. The result was items such as clothing that were sold in the store not even appearing on the website. By syncing everything, selecting items will be easier for customers as well as employees who are picking orders for curbside pickup or delivery. How well the stores actually push people to the website is unclear at the moment, but in an ideal world, there would be product displays, information, and QR codes that shoppers could scan while they are in the store, and be able to shop online (and hopefully place orders) at the same time. That, my friends, is leveraging one’s resources, which is something that Walmart has been remiss to do all these years. In other words, it’s about time, and there is no better time than now. These laboratories will yield many measurable results, like consumer sensitivity to prices, merchandising, displays, and even their willingness to effectively shop in two arenas at the same time. For those who have engaged in “showrooming” in the past, meaning you used your phone to check Amazon while you were at Best Buy, this will be a no-brainer. For those who have not, there will be only a modest learning curve. And in the end, the goal is to increase sales overall. Walmart does not have any plans to shutter stores. No, it wants to utilize them to their fullest, using them for both kinds of sales. That’s something Amazon doesn’t have, aside from a handful of test stores. It would take them years to come close to Walmart’s 4700 stores. All of which means that if Walmart does this right, they could wind up with the upper hand in retail. Both kinds. I could only dream of havibcqng such a lab at my disposal

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