Will big-box retailers, such as Target and Walmart, continue to take share?
ing its ecosystem, while Walmart is leveraging its resources to grow other, smaller ventures. , president and CEO of Walmart, told analysts during November’s conference call that the company is building out its other businesses, such as Walmart GoLocal, Walmart Connect, Walmart Luminate, Walmart Plus, Spark [Driver] delivery, Walmart’s Marketplace and fulfillment and financial services.
But increasingly important to both would-be employees and consumers alike is how well companies and brands treat their staff — something both big-box retailers have taken note of after years of criticism of alleged poor treatment, a charge that continues to be made. Target raised its minimum wage to $15 an hour in 2020. Walmart followed suit last fall, saying it would raise its hourly wages for more than 565,000 store workers by at least $1 an hour, with an average U.S. hourly wage at $16.
“We know we can make a difference in the lives of so many,” McMillon said last fall. “We do start with wanting to keep prices low. The purpose of the company is to save people money and help them live a better life and we get excited about trying to do that. And the company is kind of hedged well if you think about it with an inflationary environment.
“There are variables, like what happens with the virus; is the market going to continue opening up and people will consume services, travel and all those kinds of things and what does that mean to goods?” McMillon added. “So there’s a demand side of this, as well as a supply side of it and I don’t know that any of us could call exactly where the peak’s going to be. But it doesn’t really matter to us. We’re going to manage through it regardless of what happens.
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