It’s been great to see two of the American grocery giants, Walmart and Kroger, mobilising themselves to come to grips with the digital imperative that every retailer faces today. They are recognising that to be relevant going forward they have to be omnichannel – that is, to have a consistent digital connection to the consumer across all sales channels.
I think the deal Walmart struck to take a majority stake in Flipkart, India’s biggest ecommerce player, is a good move for two reasons. One, it’s good that it’s competed with Amazon and won, and it’s a clear sign to me it recognises how ecommerce is going to be a critical part of the future. Two, it hasn’t got a store network in India, but it can be a major player there via this route – maybe not in five years, but perhaps in 10 or 15.