Walmart to save millions on light bulbs, floor wax

“These small differences
can make a big difference to Walmart,” CFO Brett Biggs told
investors.
Stephanie Keith / Stringer
/ Getty Images

• Walmart is looking to save
  millions of dollars by making slight tweaks in its stores.
• CFO and executive vice president Brett Biggs announced that
  the retail chain planned to replace all of its fluorescent lights
  with LED lights over the next few years.
• He said that the swap would save Walmart $200 million over
  time.
• Biggs added that the chain was due to save $20 million a year
  just by switching the floor wax used in the stores.

The smallest of changes can add up to big savings at Walmart.

Brett Biggs, the chain’s executive vice president and CFO,
outlined how a few minor tweaks could make a major difference
during Walmart’s Investment Community Meeting on Tuesday. 

“We are in the process of a multiyear rollout of replacing all
fluorescent fixtures with LEDs in our stores, clubs and parking
lots,” Biggs told the audience gathered at the chain’s
Bentonville, Arkansas, headquarters. “Not only is it good for the
environment, these changes could reduce our annual energy costs
by $200 million over time.”

Biggs said that the chain would ultimately replace all the
fluorescent lights in its stores, clubs, and parking lots.

The CFO also highlighted opportunities to save by making changes
to the goods purchased for cleaning services and maintenance.
Specifically, Biggs announced that Walmart was swapping out the
floor wax used in its stores.

“Not only is the new wax cheaper, it’s also sturdier,” Biggs told
investors. “It doesn’t need to be buffed as often, resulting in
less spent on the actual buffing, as well as fuel for the
machines. That one change in floor wax will save us over $20
million a year.”

This isn’t the first time the retail giant has slashed costs by
implementing subtle changes within its stores.

Business Insider’s Dennis
Green previously reported that back in 2017, Walmart saved a
total of $27 million by tweaking its plastic bags and shortening
the length of its receipts.

And this probably won’t be the last time that Walmart adopts such
subtle price-slashing strategies. During his presentation, Biggs said that
the company’s “progress on costs” was boosting its “ability to
win.”

“These small differences can make a big difference to Walmart,”
Biggs said.