By Scot Meyer, FEBRUARY 24, 2025 || A Publication of CDR (Chain Drug Review)
In an interview with David Pinto, McMillon discusses Walmart’s past, present and future.

—

BENTONVILLE, Ark. – Retail is evolving at an unprecedented pace, and Walmart CEO Doug McMillon notes that customer expectations are changing just as fast, in some ways at least. But shoppers’ priorities are also broadly the same — they care about price, assortment, and a convenient shopping experience, and they want to do business with a retailer they can trust.

McMillon shared his vision of Walmart’s future, and stories about its past, in a wide-ranging interview with retailmediaIQ founder David Pinto. Conducted at the Future of Commerce 2030 event held earlier this month at Walmart’s new headquarters in Bentonville, the conversation addressed the major shifts shaping the future of retail, what that future looks like for the people who shop at Walmart and the people who work there, and how Walmart’s supplier partners can contribute to the retailer’s continued success.

Retail’s Evolution: More Change Ahead

McMillon, who held his first job at Walmart 40 years ago and has been with the company for the past 34 years, acknowledged that the pace of change is picking up.

“The change in front of us feels like it’s greater than the change behind us,” McMillon said, pointing to advancements in generative AI, robotics, and data-driven decision-making as key disruptors in the industry. These technologies are not just changing how Walmart operates but also transforming supply chains and the customer shopping experience.

Automation, for example, is helping reduce repetitive, physically demanding tasks for associates, allowing them to focus on customer service and higher-value work. “The kind of outcome we want is where associates are getting paid more and are supervising robotics instead of walking miles and lifting heavy items,” McMillon explained.

Consumer Expectations: A Blend of Tradition and Innovation

For consumers, Walmart’s low prices remain a priority.

“The need that people have to save money and the desire they have to save money is every bit as strong as it ever was,” McMillon said. He also highlighted the growing importance of convenience, citing the success of curbside pickup, home delivery, and Walmart+.

With e-commerce expanding Walmart’s assortment to over 700 million items, the company is appealing to a broader customer base, including higher-income shoppers. McMillon emphasized, though, that Walmart will never stray from its core commitment to providing low prices. “We cannot, don’t want to, and won’t let ourselves walk away from opening price points and customers that depend on us for low prices. That’s foundational.”

The Role of Suppliers in Walmart’s Success

As Walmart continues to evolve, its suppliers will play a critical role in supporting its strategy. McMillon acknowledged the growing complexity of being a Walmart supplier, from managing pricing structures to investing in digital advertising and data analytics.

He urged suppliers to focus on the shared customer and to be transparent in their partnerships with Walmart. “You’ve got to be honest with us. Where we need to change and get better, you’ve got to tell us,” he said.

McMillon also emphasized the importance of pricing in today’s economic climate. “Food prices in the U.S. are about 20% higher than they were in 2019, and that’s causing pain for our customers,” he noted, adding that Walmart would appreciate anything suppliers can do to “help people by getting prices down and driving volume.”

Looking Ahead: A People-Led, Tech-Powered Future

While Walmart is embracing digital transformation, McMillon made it clear that people remain at the heart of the company’s strategy. “We are a digital company, but we’re a people-first company,” he said. “We want to be every bit as good as anyone when it comes to applying the technologies that are relevant to our business while being kind, servant leaders with the set of values this company was founded on.”

Looking to the future, McMillon sees a retail landscape where automation enhances—not replaces—human roles, where technology continues to unlock efficiencies, and where Walmart remains focused on its mission of helping people save money and live better.

Walmart CEO Doug McMillon chats with retailmediaIQ founder David Pinto.

Visit CDR for the original article.