Empowered Customers (Buyers)
Walmart knows its customers. Store greeters welcome shoppers when they arrive and smile goodbye when they leave. Walmart’s folksy charm is just one component of the company’s laser focus on delighting its customers. Walmart intensely tracks customer purchases and behaviors, as does its only true rival Amazon. This data-driven awareness leads to new insights and business ideas that delight customers.
For example, Walmart noticed its customers were spending less per store visit. After intense research, the company discovered why. Its customers were allocating more discretionary income to healthcare, so they had less to spend on other things. In December 2018, the Commonwealth Fund issued a white paper titled ...