Paras Griffin/Getty Images for 2017 ESSENCE Festival
President and CEO of Wal-Mart Stores, Doug McMillon
- Walmart's CEO's favorite book of 2017 is "The Content Trap."
- "The Content Trap" is by a Harvard Business School professor and argues that every company (and person) is a media company due to the rise of digital tech.
- Walmart is making major investments in digital.
Walmart's CEO's favorite book of 2017 reveals just how seriously the company is taking the rise of e-commerce.
Doug McMillon, the CEO of Walmart, told Bloomberg that his top book recommendation of the year is "The Content Trap" by Bharat Anand.
According to McMillon, the book appealed to him because "every company is a media company."
"The Content Trap reminds us of some helpful concepts as so many of us transform into digital enterprises," McMillon said. "Ultimately, all of us in business are systems designers today, thinking through how we put all the pieces together."
The book focuses on the digital revolution, and how new tech has allowed (and forced) both individuals and corporations to build a web of connections through online content. Anand, a Harvard Business School strategy professor, argues that "everyone is a media company today."
It makes sense McMillon would pick "The Content Trap" as his favorite book. Walmart has made a major investment in its online shopping business this year, adding perks like free two-day shipping on orders of more than $35. As of Walmart's investor's conference in October, e-commerce sales were up over 60% at the company.