Our second priority ‐‐ EDLP and EDLC. Being an EDLP retailer isn’t easy. It takes unwavering strategic commitment and daily execution. But nothing builds more loyalty with customers than everyday low prices. EDLP in every market. No exceptions. No excuses.
To deliver EDLP, to drive growth and really churn the productivity loop, we have to be an EDLC operator. Over the past couple of years you’ve done a great job quarter after quarter of leveraging expenses. And I want to really appreciate you for that. But I know we can do more. Over the past week I’ve started reading Sam Walton’s book again for what must be the third or fourth time. Let me tell you what Sam said about EDLC:
We exist to provide value to our customers, which means that in addition to quality and services, we have to save them money. Every time Wal‐Mart spends one dollar foolishly, it comes right out of our customers’ pockets. Every time we save them a dollar, that puts us one more step ahead of the competition ‐‐ which is where we always plan to be.
No one controls costs better than Walmart because we do it for the right reason ‐‐ it’s all for the customer.
Our third priority ‐‐ global e‐commerce. I am really excited about what Eduardo shared. Over the past two months here in the U.S. and in China, we’ve made investments and integrated new talent and technology. With our stores and low prices, we can really take advantage of mobile technology and this era of price transparency. We can combine our stores, our systems and our logistics expertise into one continuous channel to drive growth and serve the Next Generation Customer around the world. So let me be very clear ‐‐ in global e‐commerce, we will not just be competing; we will play to win.
Our fourth priority ‐‐ talent. We have to be more intentional about developing talented leaders, managers and associates around the world. That means better training and greater opportunity for our store associates. And it means thinking globally and building teams that reflect today’s world. I also appreciate the progress we’ve made with diversity and inclusion. But we’re going to do more, including for women and minorities. And that’s a promise.
Our fifth priority ‐‐ “live better.” We must continue to broaden and accelerate our work to make a difference on big issues. Anyone who has paid attention over the past year ‐‐ to our work on healthy foods, fighting hunger or sustainable agriculture ‐‐ knows we have a model that works and momentum behind it. I loved the headline on a recent news story about our new Global Responsibility Report. It made me so proud. And it’s all a credit to you, our associates. It read: “Walmart Is Crushing Its Ambitious Global Responsibility Goals.” Absolutely crushing! You did that!