Keeping up with the times is a must for businesses of all sizes. You’ve got to evolve to survive and innovate to thrive. Even Walmart, the wildly successful discount retailer expected to post $648 billion in sales in 2024, knew they needed to make changes to ensure future success. They are mid-way through their billion dollar store makeover and are modernizing the look and feel of the stores and upgrading the customer experience. Their objective is to draw more customers into Walmart locations and get them to stay longer by engaging them with free samples and offering modern conveniences like Buy-Now-Pay-Later shopping, parcel stations for same-day delivery of online orders, and AI technology for a tailored shopping experience.
When you compare some of the world’s most innovative companies they have one thing in common, they are constantly finding new ways to improve. Between 2007 and 2024, there have been 42 different iPhoneversions. Every phone released means a new or improved feature iPhone users can’t live without. A new or improved tech means more sales. It costs Apple $423 to make each iPhone 15 yet sells every phone at twice the amount.
Tesla may have had some ups and downs as of late with exploding car batteries in the news and dropping stock prices, but their latest innovation stands to make owning an electric vehicle more convenient and appealing. They are working on a garage installed wireless charging pad and, combined with Cybertruck sales, stock prices are sure to make a turn for the better.