Name: Walmart Is #1 on the 2019 Fortune 500 List
Uploaded: 2019-05-15
Duration: 2 min 30 s
Description: That makes seven years in a row.

[ MUSIC ] Walmart remains number one because it's brick- and- mortar business is without competition. Walmart knows that it has this massive retail footprint, which is a real advantage for the company. They've managed to get a lot more people to visit their stores. And they've also managed to grow their online business enormously. And part of it has been big efforts to get people to pick up their groceries that they order online. And they set up infrastructure at thousands of stores to enable that. They've done other things too, such as As they're experimenting with Jetblack, which is a personal shopping service and they're using artificial intelligence. They keep trying new things to keep phase with Amazon, but not just Amazon [ UNKNOWN ] that they're going to try subscription box for kids. So basically the takeaway here is that Walmart was [ UNKNOWN ] in all cylinders in terms of innovating and trying new things And showing that Amazon isn't the only company that's going to run away with the E- Commerce prize. Walmart doesn't just cater to the low- income shopper, in fact their shopper demographic reflects the U. S. at large. And they have a lot more middle- class shoppers than you realize. But, they've been trying to get a bit more of that middle and upper middle- class shopper. For example, launching Websites like Lord and Taylor's e- commerce site on its own website. In recent years, Walmart has made a bunch of big bets in online commerce. It acquired jet. com so that it could get the urban millennial demographic that it so sorely missed in its classic stores. It acquired, more recently, Bonobos, the kind of male fashion brand. And, which was online only but then it opened up a branch of physical stores to back that up. And then it also launched store number eight, a sort of internal incubator led by a Rent the Runway cofounder. Walmart has been making really significant changes to its global portifolio over the last year. It's under new leadership, Judith McKenna is now running. International Business. In the last year the company acquired Flipkart, its biggest acquisition ever. And at the same time it exited its retail business in Brazil. It's very unlikely that Walmart in ten years from now is just gonn be purely a retailer. And but the same thing can be said of its competitors. Best Buys going into health care. So is Amazon. I mean, Walmart is the biggest company in the world by revenue, I think. It's not going anywhere anytime soon, it is definitely doing battle with other retailers that are trying to take the top spot. They say that when you're on top, there's nowhere to go but down. But it's a far drop to number two for Walmart and I think it's gonna stay for a little while longer. [ MUSIC ] [ BLANK_AUDIO ]