Online Takes the Lead

Walmart is an Online Leader

Wal-Mart became one of the world’s largest retailers through their many brick-and-mortar stores. Now, they are one of the leaders in the battle for online retail and want their legal name to reflect that. Though not often seen by consumers, the legal name is currently ‘Wal-Mart Stores,’ but soon they will simply be ‘Walmart.’

“While our legal name is used in a limited number of places, we felt it was best to have a name that was consistent with the idea that you can shop us however you like as a customer,” Doug McMillon, Walmart’s president and CEO, said. “As time goes on, customers will increasingly just think of and see one Walmart.”

This is the first legal name change in 47 years and is a clear signal of where retail is headed. While the move to online has been obvious for years, the response from large retailers is becoming ever more apparent through these kind of strategic changes and responses.

In keeping with recent holiday shopping trends, as Walmart advances its online presence (they now have over 70 million product offerings on their site), they are also improving their in-store experience as well. Through improved appearance, product quality and perks, Walmart plans to ensure their in-store experience does not suffer at the hands on their online focus.

Online Success and In-Store Tracking

One of the biggest challenges for procurement leaders is getting insight into tail spend. An online procurement system may help with spend insight on online purchases, but ignore off-system spending. That’s why Vroozi created Vroozi Expense so businesses can quickly gain total spend insight of both on-system and off-system spending. Vroozi Expense is easy, mobile expensing so employees can report off-system spending quickly.

Learn more about Vroozi Expense with a Live Procurement Demo.

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Source: USA Today, Walmart changes name, dropping ‘stores’ and hyphen, as it underscores online image