I read an article today about Warren Buffet. His company, Berkshire Hathaway, recently sold over $900 Million in Wal-Mart stock. Why you may ask?
Buffet believes the retailer is a sinking ship and retail as a whole is being completely disrupted. Now by all accounts Wal-Mart is still hugely successful. They sell more than Amazon, are profitable and growing.
Looking at these factors alone it would seem that there is nothing to be worried about, however a man much smarter than myself thinks otherwise. How can that be changed?
Now, this post is not about Wal-Mart per say but more on the retail experience as a whole. I can look throughout my house right now and say that a large majority of what I have purchased in the past few years has been from online.
I have twin girls and my family may singlehandedly keep Amazon in business by all the items we need on a day to day basis.
Recently Wal-Mart began a service in my area where you can pick out all of your groceries online and pay, then you just drive to your location and they load your car with the groceries. You never go in the store and you have everything you need at a great price!
I can tell you that the service would be extremely helpful to my family but I have never once considered it.
I am not a snob, in fact I prefer a good burger over whatever hot dish is on trend right now, however I have a hard time considering Wal-Mart or other similar retailers for most of my purchases.
The main reason, for me, is the culture of those locations.
I feel that retail employees are paid too low and not given opportunities for advancement. Is this true? Sometimes, but also it’s a perception thing. The culture would appear to be one of hardship.
On the other hand Amazon has commercials for drone delivery and cutting edge technology. Is the apple I get from Amazon any different than the one from Wal-Mart? Not one bit, but my perception is. I feel pleased that my money is being well spent with one while depriving from the other.
Is retail a sinking ship? Maybe, but quite frankly I do not have enough information to support such an argument. However I can tell you that my emotions are directly connected to my perception of the culture at each company and that is what determines where my dollars go.
Culture is deeds, words and actions. It is the sprit that inhabits a person and an organization. It must be jealously guarded as it could quite possibly be the most valuable thing owned.
My personality is my culture.
The company I work for is an aggregate of all combined to make up a unifying culture.
Do I have an answer on how to fix the ship? I would think it starts with the leaders and then moves down. Perhaps it can also start with the individual?
What fuels that person? What helps them determine right from wrong? Is there a right or wrong?
These are all questions that will determine an individual’s identity and ultimately help them determine their course in life.
Maybe it is time to right our own ship?
Image credit: bertknot