August 25, 2014
Strategic and Financial Planning: Wal-Mart
Wal-Mart started over 50 years ago as a small company providing consumers with low prices and convenient shopping. Throughout the years Wal-Mart has shown continued growth for it shareholders by focusing and developing new ways maintain lower prices and customer satisfaction. The 2014 annual report posted by Wal-Mart expressed the need to improve upon their e commerce business. This strategy requires both strategic and financial planning on Wal-Mart's behalf to develop the best possible e commerce experience for the consumer.
Wal-Mart e-Commerce growth strategy
Wal-Mart experienced a 30% increase in profits through their e-commerce site and a threefold increase on Wal-Mart.com and substantial growth on other sites. Wal-Mart's financial priorities for the coming years are growth, leverage and returns.
Wal-Mart's growth priority is centered on improving the speed and customer experience on their e-commerce site and stores. Executive Vice President and Chief Financial Officer Charles Holley Jr. states in the 2014 Wal-Mart Annual Report that they will invest $12.4 to 13.4 billion dollars in physical and digital assets to improve the customer experience in the US and worldwide. Wal-Mart s new initiative called "Best in Class e-Commerce" will improve the speed and efficiency of their e-commerce technology platforms in the US, UK, Asia and Brazil. To support the new e-commerce project are new fulfillment sites in Pennsylvania, Indiana and Brazil. These new fulfillment sites will offer faster service delivery of product and increase efficiency in delivery times to their customers.
President and CEO of Global e-Commerce, Neil Ashe introduced a new platform Pangaea which will increase web speed, efficiency and personalized customer experience with product ordering when it...