Wal-Mart’s Disappearing Eight Percent
What interested me was some information on how reputation can impact the bottom line. The interviewer remarked that a leaked internal study reported that nearly 8 percent of the store’s customers no longer shopped at Wal-Mart because of its reputation. Since Wal-Mart has 127 million customers, that’s alot of customers turning away. Lee Scott has certainly taken this criticism seriously and is turning the company upside down to meet expectations and win back those fleeing customers.
When your CEO asks you to show him or her some numbers about the link between reputation and sales, don’t forget to pull out this posting.