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Walmart's general manager, Doug McMillon, paid tribute to Amazon on Monday, saying he admired the company for its "speed, innovation" and "customer focus".
McMillon made the remarks at Fortune's annual technology summit, Brainstorm Tech, as Walmart organized massive online sales coinciding with Amazon Prime Day, the second-largest annual sales event. of the technological giant.
In his remarks, Mr. McMillon admitted that Walmart "has fallen behind" in e-commerce and has been "catching up".
"We are not proud, we are not selfish," said McMillon. "If someone goes better – hearty and hearty, copy and paste what we should and can – and in the case of Amazon and others, it is clear that customers are responding to the convenience Everyone loves to buy time and something easy. "
He added that Walmart was learning to adjust its pace to create a more consistent experience for customers in its stores and website.
Read more: US Walmart CEO says half of store visits make him "grumpy" – he's putting more pressure on his managers
He told a story about Walmart founder Sam Walton, who was visiting a rival store that was a total mess and discovered something he was doing better than Walmart.
"The store does not look very good," McMillon said.
But when Walton came out of the store, he said, "Have you seen the tights stand?" It was awesome, as if it was the best pantyhose display I've ever seen. He was carrying the goods and the price, it was organized and he was in stock. "
"Sam found in this competitive store the only thing we had to adopt to improve Walmart," said McMillon. "So, culturally, you know, this story represents our way of thinking about competition."
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