Walmart's Strategic Innovations: Childcare Service Proposal

Jonna Walker BUS 400 Driving Business Opportunity Sean Clark 1-2 Blog: Project Analysis Value Proposition Walmart, a multinational retail corporation headquartered in the United States, is renowned for its hypermarket operations, which combine the features of a traditional grocery store and a retail department store. Walmart provides a diverse array of products, including clothes, groceries, household products, electronics, supplies for pets, gardening supplies, home improvements, and much more, all at affordable prices. The convenience, affordability, and comprehensive shopping experience offered by Walmart are highly valued by their customers. Recognizing the evolving needs of its customers, Walmart has introduced services like grocery delivery and pick-up options, allowing customers to conveniently shop without even stepping out of their cars. Profitability Walmart, a highly lucrative corporation, generates an astounding $1.56 billion in daily earnings and approximately $49 billion in monthly revenue. (Zippia Team, 2023) Holding the prestigious position on the Fortune Global 500 list for nine consecutive years, Walmart reigns as the largest corporation in terms of revenue. (Artashyan, 2022) The graph provided illustrates the remarkable profits amassed by Walmart from 2012 to 2022.

SWOT Analysis Strengths

Walmart possesses several key advantages that can be utilized to develop innovative products or services. One of its notable strengths is its strong brand recognition, which enables it to establish trust and loyalty among consumers. (Pereira, 2023) Additionally, Walmart efficiently manages its supply chain, ensuring timely and cost-effective delivery of goods. Another advantage is its diversified revenue streams, which provide stability and flexibility when introducing new offerings. Furthermore, Walmart boasts a substantial customer base, allowing for a wide reach and potential market penetration. Lastly, Walmart's ability to offer competitive prices sets it apart from its rivals, attracting price-conscious customers. By leveraging these strengths, Walmart can successfully introduce new products or services to cater to diverse consumer needs. Product or Service Singularity Walmart is planning to introduce a new service called Sam’s Kids, which will provide free childcare for parents while they shop. This service aims to allow parents to shop without the concern of their children becoming bored or causing a disturbance. New Products or Service Projections Several grocery stores previously provided childcare services for parents while they shopped, but most have discontinued this offering. For example: Wegmans, Kroger, Smith’s, and Fred Meyer. (Dumont, 2019) I believe implementing this service at Walmart would be a lucrative decision. Walmart offers a wide range of services beyond just groceries. Customers can get their eyes examined while getting an oil changed, visit the health clinic, shop for groceries while waiting for their prescription, and even purchase outfits and accessories for the entire family all under one roof. Many people have mentioned spending hours at Walmart during each visit, and I can attest to this myself, spending at least an hour every time I go. As a mother, my child can

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quickly become bored or hungry after just 20 minutes which at times leads to crying, fussing, and outbursts. I have had to cut my shopping trips to Walmart short numerous times because of my child’s behavior. Providing complimentary childcare services would have enabled me personally to extend my visit and complete all my tasks in one go, ultimately leading to a boost in revenue.

References Artashyan, A. (2022, August 3). FORTUNE 500 LIST: WALMART TAKES FIRST PLACE FOR NINE CONSECUTIVE YEARS. Retrieved from Gizchina | News: Walmart: https://www.gizchina.com/2022/08/03/fortune-500-list-walmart-takes-first-place-for- nine-consecutive-years/ Dumont, J. (2019, May 2019). Wegmans and other grocers scale back on-site childcare. Retrieved from Grocery Dive | Dive Brief: https://www.grocerydive.com/news/wegmans- and-other-grocers-scale-back-on-site-childcare/555682/#:~:text=Wegmans%20isn't %20the%20only,Nest%20childcare%20facilities%20in%202014. Pereira, D. (2023, March 23). Walmart SWOT Analysis. Retrieved from The Business Model Analysis | SWOT Analysis Examples: https://businessmodelanalyst.com/walmart-swot- analysis/ Zippia Team. (2023, January 7). HOW MUCH MONEY DOES WALMART MAKE IN A DAY? Retrieved from Zippia | The Career Expert: https://www.zippia.com/answers/how-much- money-does-walmart-make-in-a-day/

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