US retail giant Walmart is increasing sales, developing customer experience – and artificial intelligence is a major part of the transformation, says the Clickz website. The site makes the point that Walmart in this instance is both the “challenger and the incumbent”.
This is something from which retailers of all manner of stripes could learn. The classic view of the retailer at the moment is that everything is terrible because Amazon has snuck in (some time ago by now) and is eating everybody’s breakfast because nobody can compete with that level of efficiency and customer service (where we take ‘customer service’ to be a matter of logistics).
Walmart has taken the opposite view; if anyone is going to come in and blow the company out of the water, it appears to be thinking, it had better be Walmart itself. So it’s redesigned its website, worked with AI to personalize the entire experience and from the sound of it there’s more to come.
If you’re in CX and particularly if you’re in retail or serving retailers, maybe it’s time to become the challenger rather than resist them?