Executive Briefings

Wal-Mart To Shake Up Online Team, Cut Prices In Amazon Fight

Wal-Mart Stores Inc. is overhauling its e-commerce team and elevating executives from its recently acquired Jet.com business, aiming to better challenge Amazon.com Inc.with more selection and lower prices.

The changes are meant to make Wal-Mart more "customer-centric," Jet founder Marc Lore, who is now CEO of Wal-Mart's e-commerce operation, said in a memo that was obtained by Bloomberg. Wal-Mart bought Jet in September for about $3.3bn, turning to the startup to bolster an online operation that has lagged behind Amazon.

“We’ve talked a lot about becoming a more customer-centric organization,” Lore said. “Our strategy is about offering more choice, competitive prices — particularly on food and consumables — and operating on the strength of the world’s most efficient e-commerce supply chain.”

The company is streamlining its web team so that it can serve customers whether they shop online, via smartphones or in stores, according to the memo. Key promotions include naming Scott Hilton to the role of chief revenue officer, charged with aligning the company’s various online retail, marketplaces and digital stores. Jeremy King, meanwhile, has been promoted to U.S. chief technology officer, bringing together Wal-Mart’s retail and e-commerce technology teams.

A new incubation and strategic partnerships division will be led by Seth Beal, who will focus on identifying areas that have the most growth potential.

Read Full Article

The changes are meant to make Wal-Mart more "customer-centric," Jet founder Marc Lore, who is now CEO of Wal-Mart's e-commerce operation, said in a memo that was obtained by Bloomberg. Wal-Mart bought Jet in September for about $3.3bn, turning to the startup to bolster an online operation that has lagged behind Amazon.

“We’ve talked a lot about becoming a more customer-centric organization,” Lore said. “Our strategy is about offering more choice, competitive prices — particularly on food and consumables — and operating on the strength of the world’s most efficient e-commerce supply chain.”

The company is streamlining its web team so that it can serve customers whether they shop online, via smartphones or in stores, according to the memo. Key promotions include naming Scott Hilton to the role of chief revenue officer, charged with aligning the company’s various online retail, marketplaces and digital stores. Jeremy King, meanwhile, has been promoted to U.S. chief technology officer, bringing together Wal-Mart’s retail and e-commerce technology teams.

A new incubation and strategic partnerships division will be led by Seth Beal, who will focus on identifying areas that have the most growth potential.

Read Full Article