The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Katharine McShane - Goldman Sachs - Analyst
: I wondered just because this is the first fireside chat you've done at the GS Retail -- I'm sorry, GS Tech Conference, if we can maybe start with your
background. Can we hear a little bit more about your current role at Walmart and just what brought you to Walmart in the first place?
Question: Katharine McShane - Goldman Sachs - Analyst
: Maybe we could start drilling down then into retail media. Given the business has changed a lot over the years, can you maybe walk us through a
quick history of the evolution of retail media advertising in Walmart? And what it looks like today?
Question: Katharine McShane - Goldman Sachs - Analyst
: And then Retail Media is currently the fastest expanding digital marketing channel. What is the reason behind the rapid growth of retail media for
Walmart? .
Question: Katharine McShane - Goldman Sachs - Analyst
: I think one of the areas that investors are still trying to understand as Walmart does grow these alternative revenue business is that it really is an
ecosystem. And so at the end of the day, we think that it would be best to understand the role of Walmart Connect, along with marketplace and
fulfillment and how it's creating an ecosystem of value. So can you maybe explain that interplay, maybe specifically between advertising marketplace
and fulfillment?
Question: Katharine McShane - Goldman Sachs - Analyst
: Maybe we can move on to Walmart Plus -- that is another area of your responsibility. And on Walmart's recent earnings call, you shared that Walmart
Plus continues to grow double digits. We wondered if you could talk to about the shopping behavior of the Walmart Plus members, how it may
differ from non-members? And how does the customer income demographic differ when using Walmart Plus?
Question: Katharine McShane - Goldman Sachs - Analyst
: So it sounds like the key factors that differentiate Walmart Plus is execution, fulfillment delivery, assortment. What about just any other kind of
offers for the Walmart Plus subscriber? How do you approach that?
Question: Katharine McShane - Goldman Sachs - Analyst
: If we can maybe move on to the last area of your -- under your purview, which is the data ventures. It seems to be growing really well with Walmart
calling out strong results on the last quarterly call as well. I think a background around what data ventures is be helpful. And just what solution is
it providing for your supplier partners in terms of what insights they're gaining?
Question: Katharine McShane - Goldman Sachs - Analyst
: So for Walmart, the experience is getting better because of this. And then for the suppliers, I would imagine there's efficiencies and cost savings
that they are benefiting from as well. How do you manage that relationship that they are asking for more? Is that something that you're monetizing?
And then from a frequency standpoint, a communication standpoint, how are you handling that?
Question: Katharine McShane - Goldman Sachs - Analyst
: And just in the last couple of minutes here trying to tie it all together. We hear from Walmart CFO, on David mentioned that advertising and
membership currently are about 20% of our overall EBIT for Walmart. And while that's a global statistic, I know the US business is a very big part of
that. So kind of tying everything that we just talked about, how are you seeing these newer, higher-margin businesses becoming a more important
part of the overall enterprise strategy?
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