The American multinational retailing corporation Walmart shared good news on Thursday and it was all about the success of grocery business.
Yes, Walmart broke last five years’ record by doing an annual sale of about $170 billion. Walmart was going through a crucial time and the magic happened as it was one of Amazon’s pending acquisitions in the food market.
On the other hand, Lidl, a similar German retailer that is expanding its business and overhauling many stores, is a tough competitor of Walmart in the current scenario. Grocery, being the main commodity of Walmart, generates around 56% of annual sales, which in other words can be termed as the backbone of the business.
A unit of Walmart store, which operates from Sam’s Club, is constantly spending a lot of profit for the improvement of grocery field and at the same time planning to operate everything technically for the ease of workers.
In a conference, Walmart U.S. CEO Greg Foran said that his company is taking extra efforts for his customers, which includes constant increase of food sections at stores, supplying fresh vegetables and placing them close to the entrance, grouping of colored products at the same place and last but not the least, introduction of plastic crates that look like wooden crates.
In order to boost the grocery business, Walmart Stores’ CEO Doug McMillon said that they are using an app where one grocery department manager can check the availability of stocks siting at a place.
Though the competitors like Amazon, Aldi and Lidl are there in the market, Walmart will do its best for the customers, said Foran.