Celebrating Five Years of Walmart's Growth and Transformation

As we approach the end of the quarter, I've been reflecting on some significant achievements that we commemorated during our yearly Shareholder's Week event last month. These milestones reflect Walmart’s transformation from a modest, single discount store to a globally recognized people-led, tech-driven omnichannel retailer, uniquely serving our customers and business partners.??

Walmart’s alternative revenue-generating businesses are a testament to our company’s continuous evolution. And, as Chief Revenue Officer, I've been lucky to lead some key areas of this transformation:?

• 5 years since we launched Walmart Connect?

• 4 years since we introduced Walmart+?

• 3 years since Walmart Data Ventures began?

• 2 years since we started our Customer Data Identity journey.??

• And 1 promise at the center of it all: Our commitment to making our customers the top priority?

Navigating through the challenges of a highly competitive industry and our ever-evolving customers, we have reached impressive milestones. We have served valuable members, sellers and suppliers, built strong partnerships, and stayed true to our purpose of helping customers save money and live better. Above all, we've played a big part in helping Walmart grow beyond just retail sales. If you look at the composition of our operating income improvement year-over-year, about one-third of that came from our newer businesses like Walmart Connect, Walmart+ and Walmart Data Ventures.? This has allowed us to make our business stronger, create financial flexibility to fuel important new innovations, and improve our customers' experience.??

Walmart Connect: Our journey into advertising began modestly in 2005, with brand pages and display ads on our site evolving into full-funnel, omnichannel offerings, thanks to our commitment to solving essential marketing challenges and helping brands connect meaningfully with our customers. We've been able to bring Walmart's purpose to life through retail media by prioritizing experiences that enhance the shopping journey and help advertisers of all sizes grow at Walmart. Walmart Connect continues to experience remarkable growth establishing it as one of Walmart's fastest-growing businesses.?

Walmart+: We also ventured into a membership business, Walmart+, which first debuted in 2020. Our goal is to provide undeniable value, saving our members both time and money while enhancing their lives through a suite of benefits. The program was designed around exciting features like free delivery, but the driving force behind Walmart+'s growth has been our commitment to constant innovation. By actively listening to member feedback, we’ve been able to enhance the overall experience and expand from three to nine benefits, without any increase to our membership fee.?

Walmart Data Ventures: Recognizing how rapidly our customer’s behavior is changing, we launched Walmart Data Ventures to provide merchants and suppliers with omnichannel visibility to stay in lock-step with our customers. Walmart Luminate, our comprehensive data analytics and insights suite, helps merchants and suppliers optimize their retail strategy through deeper understanding of the customer journey from home to store and the product journey from source to shelf. Our latest offering, Digital Landscapes, unlocks even greater insights into the online shopping journey on Walmart.com and the Walmart app. Through this integrated ecosystem of insights solutions, we're helping to create value from Walmart's rich data resources to deliver enhanced shopping experiences for our customers.?

Customer Data and Identity: For two years, Customer Data and Identity has been focused on establishing a consistent understanding of our customers to create deeper, more trusted relationships and grow our monetization businesses. We are making significant progress in this journey across our in-store omni services, front-end checkout, site and app, and customer data platform.?

We’re not just trying to make Walmart stronger and more profitable, but also to offer services beyond everyday shopping. We want to help other businesses, including advertisers, suppliers, sellers, and emerging brands, with our diverse offerings. Today we are commemorating the milestones reached by these businesses, but also celebrating and acknowledging all the dedicated associates who have played a crucial role in launching and sustaining these innovative solutions. Their efforts ensure that we continue to deliver unmatched experiences to our valued customers and suppliers. I’m excited about our future and confident that our transformation will help Walmart continue to grow, innovate, and serve our customers, members, and partners even better.