Retail News

Walmart chairman says FOMO is behind its push into digital

Fortune 12/07/2017

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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