Walmart chairman says FOMO is behind its push into digital
December 7, 2017
Speaking at Fortune’s Global Forum in Guangzhou, China on Thursday, Walmart chairman Greg Penner explained the company’s newfound inspiration in the realm of digital commerce and marketing. “For us, a big part of it is being paranoid. We’re at our best when we’ve got a competitor that’s really challenging us.” To be more accurate, Mr. Penner likely had two particular challengers in mind: in addition to Amazon, Alibaba’s heavy recent investments in new retail sectors, technology and logistics are keeping Walmart execs on their toes.
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