Of Luke Solomon
While the digital receipt is spreading, especially for sustainability purposes, the group Walmartwhich has always been the largest global retailer with its consolidated turnover of 648 billion dollars in 2023, is also digitizing shelf prices, a trend which, moreover, arouses the interest of all modern distribution.
From two hours to two minutes
The new labels, intended to replace the old ones in thousands of points of sale, will cover 120 thousand references. This will allow the group, which has 10,500 stores around the world (Americas, Africa and Asia), to carry out procedures that normally require two working days a week in just a few minutes.
The staff assigned to this function will be equipped with the app, Me@Walmartinstalled on mobile terminals.
The new labels, small rectangular screens that resemble paper labels, will appear on the shelves of 2,300 US stores by 2026, covering 50% of the US network, made up of 4,700 locations.
The procedures will be carried out during the night, while, during the day, prices will remain stable.
In this way, the changes communicated by the suppliers can be updated in real time which will allow the consumer to get a precise and timely idea of increases and decreases.
Wendy’s and the burger ‘Exchange’
This is also because, in America, the topic has become very topical since the burger joints appeared in March Wendy’s (7,240 restaurants worldwide) were heavily attacked on social media following the CEO’s announcement, Kirk Tannerof wanting to introduce, at a test level, dynamic prices, i.e. variable prices based on demand and above all depending on hourly turnout.
Walmart, on May 16, announced positive financial results and above analysts’ estimates for the first quarter of 2024: sales in value increased by 6% on an annual basis, reaching 161.5 billion dollars.
The e-commerce channel alone saw a surge of 21 points, due to click and collect, but also to a general expansion in the Internet world, where for years the group has been engaging in a very tight head-to-head with Amazon.
