Davos: Wal Mart: Retailing At Technological Inflection Point
By Vito Racanelli
Wal Mart Stores (WMT) CEO Mike Duke said Thursday that retailing looks like it will see a technological inflection point this year.
During the past Christmas, the company noticed “a more dramatic involvement” of new technology in spending habits, whether through the use of mobile devices to make purchases or online buying.
“More and more the customer is shopping with a cell phone to check prices,” for example, he said. The use of “site to store,” is growing, too. Site to store refers to customers who buy on line and then come to the store to pick up the merchandise to avoid delivery charges.
“There might be an inflection point this year” in the use of various technological modes of buying, with the uptake curve accelerating, he said. Price transparency will increase across numerous retail channels as a result, he added.
Well, given that Wal Mart is usually the low price leader, investors might conclude that the increasing use of technology by consumers should play into Wal Mart’s hands.