Walmart, the world’s largest retailer by sales, is using its expertise in sustainability as a means for profitable growth.
“We are moving more aggressively to integrate into our business strategy and operations a holistic sustainability plan for 100 per cent renewable energy, zero waste and selling products that sustain people and the environment. We call it sustainability,” said Eduardo Solórzano, CEO, Walmart Latin America, during the annual “Outlook of the Americas” luncheon of the Association of American Chambers of Commerce held recently.
Calling Latin America a key region for Walmart, Solórzano said, “We are sharing best practices across markets and developing new formats to serve unique customs and needs of customers. But it will take leveraging the company’s expertise in sustainability to manage costs.”
He further said, “To sustain our growth in the region, we cannot exponentially increase our costs or impact on the environment. Our approach must be agile and innovative to meet the challenges in a very diverse region.”
In Latin America, Walmart opened its first store – a Sam’s Club – in Mexico 20 years ago. In FY’10, the retailer reported $36.6 bn in revenue for Latin America. The region has almost 3,300 stores in nine countries with over 350,000 associates and over 30 different brand banners and formats to fit different socio-economic levels, customs and needs of customers.
– IndiaRetailing Bureau