NEW YORK — Mike Duke, president and chief executive officer of Wal-Mart Stores, said he would step up the retailer's focus on consumer research and re-emphasize its commitment to operational efficiency to meet those customer's needs.
"I would say it's not just really focusing on the customer," Duke said in remarks at the Goldman Sachs 16th Annual Global Retailing conference here. "It's really being obsessed with knowing the customer, understanding the customer and solving the customer."
Those insights — gleaned from researching about 1 million customers a month, according to Duke — are guiding much of the reshaping of Wal-Mart. For example, research revealed Wal-Mart customers have reduced their spending on vacations by 25% this summer, he said. This data presents an opportunity, Duke said, to create integrated offerings for families spending more of their time at home.
Wal-Mart announced one such initiative yesterday, saying has added "Family Night Centers" in its stores featuring specially priced board games, DVDs and snacks.
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