A picture is truly worth a thousand words.
Speaking at a media briefing at Walmart‘s annual shareholders meeting this week in Bentonville, Arkansas, Chief Marketing Officer Tony Rogers highlighted an image that depicts a stark contrast between the top retailers in 1970 compared with last year.
The list on the left includes names like Sears, J.C. Penney and Kmart. An updated version includes Walmart in the No. 1 position, followed by fierce competitors Kroger, Costco and of course Amazon. None of the companies on the left made it to the right, nearly half a century later.
The fear for Walmart now is falling off the current list within a few decades. The company is testing many new initiatives both in stores and online to compete. Rogers said those retailers that are afraid of change are the ones that end up lagging behind.
CNBC visited a Walmart supercenter in Arkansas this week, where the company has been piloting some new technology that could eventually roll out to additional locations. Below are five things Walmart is working on to improve the shopping experience.