Amazon vs Walmart - Food Fight! | 5

Business Wars

Wondery

History, Business, David Brown, Management

4.6 • 13.2K Ratings

🗓️ 4 May 2020

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Amazon decides to go after Walmart’s biggest category: fresh food. But moving into groceries is harder than Bezos expected. Meanwhile, Walmart has finally found success in marrying their online operation with their brick and mortar stores by allowing consumers to order groceries online and pick them up at a store. And with an aggressive new head of online sales — who has a personal vendetta against Bezos — Walmart is feeling good. But, determined to make an impact in the world of fresh food, Bezos makes a move that surprises everyone and upends the retail world yet again.

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Transcript

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0:00.0	Hey, prime members, you can listen to business wars, add free on Amazon music.
0:04.8	Download the app today.
0:07.0	It's 2016 in a restaurant in New York City.
0:18.3	In Walmart's CEO Doug McMillan is sitting across from Mark Laurie, the founder of diapers.com.
0:24.5	McMillan swirls his drink.
0:26.6	He's 50 years old with a boyish face and traces of a southern accent.
0:31.6	Although he's Walmart's third CEO since the year 2000, he sees himself as the company's
0:37.0	first true 21st century leader.
0:40.0	And he has an e-commerce problem that he hopes Laurie can solve.
0:44.6	Obviously we've been fans of yours for a while.
0:47.0	It's before my time as CEO, but I hope you know that we regret losing diapers.com to
0:52.4	Amazon.
0:53.4	Laurie nods.
0:54.8	Yes, Doug, and I hope I've made it clear that I have regrets about how that deal went down
0:59.2	to.
1:01.5	It's been six years since Amazon used some underhanded tactics to outbid Walmart for
1:06.6	diapers.com.
1:08.6	Laurie went to work for Amazon under the deal, but left after two years.
1:12.8	Shortly after his departure, Laurie realized that Amazon and Walmart were focusing on faster
1:18.2	shipping.
1:19.6	But Laurie saw an opening for reaching new customers by focusing relentlessly on price.
1:26.2	He founded Jet.com in 2014, selling discounted items across many categories, including fashion,
	...

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