Learning from Walmart's Growth Plans

On Tuesday, Walmart held its 2023 Supplier Growth Forum, where the leaders of the world's largest retailer discussed various topics, from sustainability to supply chain innovation.?

Here are a few key takeaways and some comments:

It's no secret that Walmart has had a great year. Total quarterly revenue hit $164.0 billion, up 7.3%, despite economic challenges for many shoppers. In previous recessions, consumers have often turned to Walmart for relief, so many of us expect more upside.?

The overall message across speakers pointed to the importance of partnering with suppliers, especially on initiatives like sustainability, accurate data, and a seamless omnichannel experience. I would personally always suggest that the best way for everyone in the supply chain to build business is to collaborate on ways to help reduce waste and improve supply chains. Shoppers are under pressure, and it's incumbent on all of us in the industry to help them; especially in obscure areas where shoppers can't make an impact on their own.?

How does Walmart plan to continue its growth? Incentivizing their suppliers' growth and investing in new technology that drives the best customer experience. We are also big believers that the right technology can be at the center of great collaboration between suppliers and retailers.??

For a more comprehensive recap, take a look at the 2023 Supplier Growth Forum Recap on SupplierWiki . SupplierWiki is a free online knowledge base for retail suppliers - built by suppliers.

Dan is the CEO of SupplyPike and the author of Collaborate: The Art of We .?