Walmart profits are growing. A large portion of that gain was attributed to increasing their customers in the $100k+ income level. You can read more about this, especially if you are an investor, but I want to use it as a learning moment. Increasing your sales is not always about more products and promotions. Let me explain.
In an article posted on WWD, the authors highlighted the big influence of changes to their online marketplace and Walmart+. Ultimately, they offered more convenience and time savings. The marketplace made it easier to access different products in a single transaction. Walmart+ makes it so customers don’t even need to leave their house. Of the 5 Ps, Walmart won by focusing on place.
When it comes to driving sales and increasing your market share, make sure you are looking at your entire marketing mix. Perhaps you do need a flashier ad campaign or social media strategy. Or maybe you need to innovate your product design. But also ask yourself whether that will really solve for what your customers want and need. Sometimes the answer is in changing the place, or price, your PR. Remember there are 5Ps for a reason. Make sure you’re thinking about them all.
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A Wren Says 
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