Advertising Age has a long and very good piece about Walmart is reinventing itself for a new retailing era. Here’s an excerpt:

“To survive the retail carnage that pushed Sears and Kmart toward irrelevance and dragged down success stories like Target and Kroger, the $485 billion behemoth remade itself as a unified online-offline proposition. It has rolled out drive-thru pickup of grocery orders to 1,000 of its more than 4,000 U.S. stores and has installed automated kiosks at about 100 stores where people can collect orders inside. It's using technology more smartly to maximize checkout orders at walmart.com.

“For customers who shop in person, the chain has improved its quality with revamped produce sections and higher-end exclusive or private-label apparel, food and nonfood items. Plus, it's sprucing up the appearance of its stores.

But through all of this, Walmart hasn't lost sight of its signature low-price proposition - it’s simply honed it into a more resonant pitch: We don't just save you money, we allow you to live better.”

You can- and should - read the entire piece here.