Walmart Inc. earnings call

I'm pleased, but I always want more. Marketplace, if I were to pick any part of our business, when we talk about all these ancillary businesses where we probably have invested more its marketplace. And this is something new to Walmart. We have roughly half a billion items that we're providing on our marketplace right now, and it allows us to have a much broader assortment than what you think of as just 1P items. That goes hand in hand with bringing in a different customer set that may be a more fluent customer base that's looking for things that you traditionally can't find within a Walmart store or Sam's Club. So I think that's a big opportunity for us, and I think we still have a long ways to go. When you look at the assortment that we have today compared to what other competitors have, we know that we want to continue to grow and expand, but we continue to be encouraged by the progress that we're making there, and we shared some of that in the last earnings call. Membership is one. this might be a little bit of a provocative statement, but the way that I view membership, when you think about the value proposition for Walmart Plus, it should be the most essential membership in the United States. When you consider that we have 90% of America within 10 miles of a Walmart store, we can deliver fresh, we can provide pharmacy, general merchandise, food, all in the same basket. And then you layer on something like the credit card now that we have with Synchrony that gives you 5% cash back. If you're a Walmart plus member, it's almost as if you're shopping with Walmart in the wrong way. If you're, if you're not a member and you don't have the credit card and you know what, you know, we've been very cautious about, um, maybe emphasizing membership too much because I don't want people to fixate on, you know, the number of new subscribers or net new ads. I almost feel like this is in some ways an output. Like when we get all the other things right, that membership becomes so compelling. that you're going to see that increase. And again, our vision is to make this the most essential membership of any membership in the United States.

do you see what you need the building blocks that this is going to be sustainable and real and we're going to be using sparky to make a lot of decisions going forward i do and i mentioned earlier that this um this channel is a little bit more solution oriented let me give you an example of that so you know historically like let's say you go to chat gpt or one of the other um ai platforms and you want to learn how to change a tire on a car. What we can do now is, you know, ChatGPT can give you the instructions, but then through Walmart, we can surface up an opportunity to buy a new tire. Moreover, you can come into one of our 5,000 facilities in the U.S., and we can put that tire on the car for you. And so I think that creates new opportunities that, again, are more contextual to what the customer, the problem that they're trying to solve. And so it's not just going to a website and us trying to figure it out based upon the the items that you're searching for, we actually have the intent and we understand that. And then that allows us to better serve the customer, not only in that moment, but going forward from there.