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BENTONVILLE, Ark. — Walmart believes that we are now in the era of “Adaptive Retail” where success depends on bringing shopping to the customer in exactly the way they want and need. The retailer argues that this new form of retailing goes beyond blending the best of online and offline and requires retailers to adapt consumer experiences based on an understanding of the deeper context behind the purchase, while addressing the unique habits and preferences of each customer.
“We’re in a new era of retail defined by profoundly personal shopping experiences,” says Suresh Kumar, global chief technology officer and chief development officer at Walmart. “Each shopper defines how, where and when they obtain goods, and context is key. The Why behind the purchase. Retailers must predict shoppers’ needs, reduce decision-making and enable highly personal experiences. Future retail success depends on how well we anticipate and meet these evolving expectations.”
To get a better handle on what consumers want from a retailer today, and what they will want in the future, Walmart commissioned Morning Consult to conduct a survey of more than 2,200 U.S. shoppers.
The result was Walmart’s first annual “State of Adaptive Retail Report,” which the company said identifies four key trends, each pointing to one overall insight: “Retailers that can proactively predict individual customer needs, offer personalized suggestions, and deliver at exactly the right moment will succeed. Adaptability, immediate accessibility, and custom ‘do it for me’ experiences will no longer be luxuries; they are absolute necessities.”
