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Recap of Haley's comments

 

  • when we did the purpose for Wal-Mart, for example...when Sam Walton was asked about the leagacy he hoped to leave with Wal-Mart, he said, well I hope I could save people a little money so they could live a little better
  • Walgreens, another great retailer...we helped them with their purpose which was to help people get /stay healthy and live well...and it harkened back to having a store environment where you pick up your prescriptions and you get well, but you also pick up a chocolate malt shake and whatever the latest kitchen ware is so you can have a little happy in your life too, and we talked about that as being at the corner of happy and healthy...but their ultimate purpose is to have people get well, live well and stay well
  • so we think about he deeper purpose of a retailer, why do you exist...what difference do you hope to make in the lives of your customers?
  • there are companies that are making  a difference, and have created businessess and are doing really good things in the world, but don't want something like price, which is always going to be an important driver of how people make decisions to trump your higher purpose
  • for me, I think something like Shelfbucks gives a retailer the ability to stay true to what they are deeply passionate about and mitigage the competitive pricing pressures that are on you from other retailers thru Shelfbucks...ok, you want a low price, we got it...scan your phone and you got it
  • now, let's get back to the greater purpose, if you're Walgreens, let's think about how you can get well, stay well and live a better life

Learn about Haley here.