CEO Doug McMillon has been increasingly interested in expanding his company's profit pools beyond its core retail business.
Just 7% of U.S. retailers had a "buy online pickup in store" option enabled in January 2018. The pandemic accelerated that rate to 22% of retailers as of last month, according to theA significant opportunity remains. As of last December, Adobe and market researcher IDC estimated the total addressable market for content and commerce software as a service was worth around $44 billion.
Walmart's size and scale and its proximity to 90% of the U.S. population within 10 miles of one of its stores gives it a substantial advantage. Further, Bhardwaj said, "we really want to serve our communities, our shareholders, our stakeholders and the community better." The new software business opens up a potential revenue stream for Walmart and it fits in with its strategyand allows profit to flow back into the company to fund further innovation.
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WMS Walmart Web Services Maybe $WMT can be valued as a tech company moving forward lol
Natural progression. 👏👍🔥