The official name of the company is “Wal-Mart Stores Inc.”, but most all of us just call it Walmart. Well, that will soon be the right way to say and spell it. CNBC reporting says that the company is dropping the dash from its name as well as the word “stores”. Why would the company do this and what difference does it make? Well, they are doing so as part of their focus on becoming more of an e-commerce brand.
The company would like to continue to be a player in the brick and mortar store space, but they also want to shift their focus to becoming a store that is though of as more of an online play. They hope that this can keep them competitive with the likes of Amazon and other online-only retailers.
One way that Walmart has started to strike back against Amazon is to purchase up online platforms that compete directly with the company. They bought Jet.com last year as a direct stab at Amazon. It seems likely that they will do the same going forward. They want more and more brands that they can use to try to gain back some of the market share that Amazon has clawed away in recent years.
The company still wants to keep its famous cheer as part of the heart and soul of what they do. Their employees frequently do a cheer in which they call out the letters of Walmart. The company has said that those who want to keep the “squiggly” part of the cheer as part of their routine are welcome to do so. It is just a part of tradition at the company at this point.
The legal change of its name will go effective in February of 2018. It will be the first change to the name in 48 years. The company made a simple change from Wal-Mart Inc to Wal-Mart Stores Inc in 1970 after just one year, but this time they will be dropping the hyphen and the word stores.
It is a small and sort of silly thing to focus on perhaps, but it is just another sign of the times when it comes to the way that companies are doing business. They are all very concerned with what the online space looks like for their particular brand. It is not necessarily a bad thing that they focus in on this so much.