Walmart's digital commerce head, Marc Lore, is set to retire from his position
In a significant move, Marc Lore, the CEO of Walmart's e-commerce business, has announced his retirement, effective at the end of January. Lore joined Walmart in 2016 as part of a blockbuster acquisition, when Walmart purchased online retailer Jet.com for $3 billion.
During his tenure, Lore's team was eventually merged into Walmart's e-commerce unit. This merger marked a pivotal moment in Walmart's digital transformation, as the company sought to streamline its operations and capitalise on the growing e-commerce market.
Lore's leadership saw Walmart's digital sales soar, particularly during the COVID-19 pandemic last year. Despite Amazon's continued dominance in e-commerce, Walmart's sales across the board have improved, with the company establishing itself as a much stronger omnichannel retailer than before Lore joined.
Walmart's stores now serve as pickup, return, and delivery hubs, a strategic move that has helped the company gain share, win customers, and expand sales online. This shift towards an integrated digital and physical retail model is unlikely to change, even with Lore's departure.
However, Lore's tenure was not without its challenges. Jet, the startup he co-founded, gradually lost resources and attention from its new parent. The Jet website was eventually wound down last year, and many of the trendy digital brands acquired by Walmart and meant to be bolted on to Jet have since been sold off or have lost resources.
One of the experiments launched under Lore's leadership, the high-end shop-by-text service Jet Black, did not take off as planned. This reportedly led to tension in Walmart's ranks between Lore's team and other executives.
Following Lore's retirement, all aspects of Walmart's domestic e-commerce business will report to Walmart U.S. CEO John Furner. Lore will continue in a consulting role as a strategic advisor to Walmart through September.
As Lore steps down, he leaves behind a legacy of transformation and growth in Walmart's e-commerce business. His departure marks a new chapter in Walmart's digital journey, one that will continue to reshape the retail landscape.
