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Walmart's CEO Greg Foran discusses increasing technology in the stores

Well, Walmart is kicking off its annual shareholders meeting, with a focus on increasing automation and technology in their stores and how to adapt their workforce. Yahoo Finance's Julie LaRoche is in Bentonville Arkansas with the latest and Julie. You spoke with the president of Walmart Greg foreign. What did he have to say? That'S right! Well, Walmart has been investing heavily in its associates, rolling out new benefits when it comes to education or training or even higher wages, and they are also investing heavily in technology. You might notice a different experience from you may have had growing up and when you enter a Walmart, so I did sit down with Walmart's US, CEO, Greg foreign, and we talked about those investments when it comes to training. Take a listen! If you go to an academy training session, where you go to a graduation, the joy on many of our social spaces, knowing that they have probably first time they've been in the classroom since they left school and they've led something really meaningful. You know new technology, that's going to help them whether they stay with Walmart or they don't. I think, that's a special thing. You know. Let'S talk about the new technology, there's going to floor, scrubbers shelf scanners, all these different things. Now, sometimes you hear this narrative. That means job loss, but you all are actually seeing job creation opportunities because of this walk us through what that was like. What are you seeing and what do you think the future of an associate looks like it's all about transitioning? Isn'T it and you know history teaches us, so I'm sure you know when when Henry Ford started rolling out cars and mass, there are a lot of people who were wondering about what was going to happen with horses and the reality is that over time, things change Over time, technology is going to allow us to do some jobs in a store that previously we used to have people to do so. It could be changing shelf labels. https://www.techtricksclub.net/best-satellite-speakers/ know when I first started in retail. tech tricks club didn't even have computers, so we used to handwrite the shelf labels and when I talk to people in our business now about the fact that I used to have to handwrite shelf labels, say look at me like I'm from a different planet. Well, the reality is, I could take you a store to a store three miles from here. We now have electronic shelf labels and I'm guessing that, probably in the next three to four years, every Walmart will have electronic shelf labels and they will be simply changed with the touch of a button out of the back office. So change is something that we've got to do. You'Ve got to get used to, but it's interesting that as we're simplifying some other parts of the business. There are other aspects that are becoming more complex, so, for example, online grocery, where we are now personally shopping for customers. Here we are a business that serves 160 million Americans a week is now rolling out a service that personally shops for you, so sort of what goes down goes up somewhere else. Our ability to manage that transition is critical, so there you've heard it some of the work is actually becoming more. Some of that work is actually becoming more complex, which is why they have the Walmart Academy, which is locating two hundred of the different stores. They teach them different customer service techniques, retail math, and how to use some of this new technology and you're seeing associates, spend more time with customers and also in the last two years since they started rolling out some of this new technology. They'Ve created 35,000 new roles. A lot of those are those online grocery Pickers. Adam Julie, Julia, quick question for you cuz. I was looking at the reports from their earnings just when they reported for the last quarter and online e-commerce sales, 37 % up and a lot of that was grocery. Did he take a shot, perhaps at his main competitor Amazon? Did he give any insight to how they're doing it better than Amazon with Whole Foods? Didn'T he a particular insight into how their between better but one thing when you look at Walmart broadly, they have 40 700 stores here in the US. They have this massive retail footprint. They are leveraging that footprint to fulfill those online grocery orders, using their 1.4 million US associates, rather than doing those mundane tasks that they may have done in the past. Training them up for some of these more complex roles to get those orders to customers faster. I'Ve seen a lot of these grocery pickups around here in Bentonville and they are packed. People are using them constantly, so they are rolling this out almost across the United States. In the next year, so we'll cover a massive part of the US population. So that's one area where they are definitely ahead. Adam Julie, all right thanks a lot. I appreciate it. Julia
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