Economy/Innovation Dominate NRF Big Show

February 5, 2009

multipage

With regard to future concerns that consumers who are cutting back spending during the current economic downturn may be establishing new patterns of frugality that will live on after the recovery, exiting Wal-Mart CEO Lee Scott, explained, 

“The principles are very simple. Does how you want to contribute to larger societal issues work with your business model – so it will last during the both good and bad economic times? We can make a special contribution as retailers. We are closer to working men and women and how they live their daily lives than any other industry. We listen. We have metrics. We are held accountable. We know what makes a difference and what does not -- because our customers tell us every day at our cash registers and our supply chain reaches all around the world. And it does not have to be sustainability. And it should not just be about sustainability.”