May 10, 2018|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
Join our brand new tax club by texting the word ferries to 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. What is on the line now to talk about wal mart's latest ventures into. A whole bunch of different areas is Michael corporate from the New York Times Michael thank you for joining us our artwork. Michael looking at Wal-Mart right now and kind of where they stake you describe some of the problems they've been facing as they try to compete with Amazon. Over the last few years. There so Wal-Mart you know protected is dominated the US retail being come in at a formula. Go in do. Small arrow suburb. But a big box to lower. Oh lower prices. Aren't a lot of competitors out of business. Well what happened is that they're basically you know in the statistic is that they're there with game. And miles. Per cent of the entire. That there is not a lot of place equity or more so. Then there Joyce is one that you are competing. You know it you delete and try to. People that then spend money on line. Outward and over the air right now they're trying to people are trying to AM on head on. Through Wal-Mart dot com. What they get dot com and and just yesterday it's not the BDE commerce. Provider. In India called Kart and get back emerging market. So do you it seems like. That it be strategy Adam you know to grow in the future. If the reality is though is that Amazon that is huge start. Ernie commerce that. I questioned whether a ball mark wrote called. Michael let's look at that domestic e-commerce business why do they keep jet dot com and Wal-Mart dot com separate. You got a really good question and then they are asked that a lot. That they object come. 660. Unity the expectation wise that it would it would. They would merge the two. But it still kept in separate. It really clear what is going yet I mean they got through jet city in at least a year that they could. Accessed some of these European market. Where did you stores in New York City where. There aren't a lot more work. And her. I'm glad it it to grow object has really started to slow. And you know if what they did in the last quarter is that now. There mean web site Wal-Mart are common in these climbers have been for e-commerce growth. Beg the question the what are oh about the cost of 3.3 billion dollars figure very talented. E-commerce expect out of their mark glory who has been helping them there aren't digital strategy. That's a lot of money. Or what state it's just. It doesn't seem. Clear hole in the Wal-Mart empire. Only in Michael some of their other e-commerce. Offering seemed to be some blockbusters well one of the things they did for awhile was the whole. You know order online and pick up in a store. Which seems to kind of defeat the purpose of the commerce. Yet he is gay. In it the you know. It gives you will Wal-Mart in the morgue and that's in dispute. There their customers in that it got all these doors. And if they're they're they're trying to use permit certain media government. That they don't have to then spend money intricate. I can union commerce there's comes out. So yeah back accident either active guard pretty at being used actually in which grossed me you know. What people order their groceries are partnered up. Amount of credit card way. By their people though now conceded it people probably want the spoken be it. Getting delivery so they're now expanding gross seeker recurring. In hundred cities. So you dude beard here experiencing. Meanwhile the clock ticking and Amazon. Eaten more and more market share of online spending is that juggernaut that the. But we know that the average Amazon shopper tends to be a little bit more. Look a little bit wealthier than the average person who shops out Wal-Mart. Is Wal-Mart doing anything to try to get a more affluent shopper into their stores are in there online platform. Yeah I think less stolen or stores. Your right Wal-Mart in a lot of their core customers in the in the lower income bracket at its stores. E-commerce state you know opportunity to get higher income bracket. That was what it was about dale they're blocked by your Mott core. Cool vintage clothing. Ninety. But no ghost and clothing and they started as an actress spray and the online only at higher price point. These are un and e-commerce going further higher income. But again you know. Still Wal-Mart and a prayer and analysts wonder whether that in principally to higher income bracket where it's it doesn't have this game same attraction. That and Amazon. Or did Michael sounds like we still a lot of questions and wal mart's got ants in the next couple years thanks for the time today. Jerry rocker here Michael corporate from the New York Times talking about Wal-Mart. They do seem to be making in this is something. If you look at the mistakes that they've been making track they've been making these mistakes for ten years Amazon. Became a player ten years ago people started shop I don't know how long I've been a number but I mean. Rarely. A week goes by where I don't make multiple purchases on Amazon.com. No and in it and I think like that I just thought to bite clocks on him you know it's just lazy at times just like okay. Boom like that I can go get it taken care of you know right there anything you don't during a conversation about there was no that's not true but you you could if you want to I guess it's that easy could pull up on your phone or in in you have everything taken care. But he made the point did you know Easter at wal mart's trying to make it convenient for Wal-Mart the debt hole you much money they spent. On building up there's Dorsey can drive up and evergreen trees and waste it completely east if I get department order on line. I want the I want the Amazon is there I go on line at 2 o'clock in the afternoon. And I say yeah I'll be home by 430 and a woman refused delivered record this thing you can say about Jeff Bezos what do you like him or even then. He is relentlessly focused on making you better customer experience and I don't know Wal-Mart has that same focus just real quick. Whether it's a Wal-Mart they're stopping shops or you know you see those spaces out front where says a couple Aaliyah via their RV. Ever further ever Carson absolutely not there always empty and I wanna park and you could park and one of them and no one would say anything now because you're not I'm going to Wanda. If you're gonna surprise you and how it works like if you drive to the store urging him to get out and go ridiculous you know. Technically you are picking up so. Now America activists interpreted designed sorry you more clear. I look through my knee by a half periodically to pick up. And I look it we're date the products you know where he myself shopping stuff I would bought at at a drugstore. I like a lot of that stuff and buying online lot of stuff that it would buy home before it blows by an online. I do want us out of The Home Depot stuff that is in its. Now there and mix with ice to go to home people.