With their multiple stores and a very large customer base, Walmart is definitely one of the largest companies across the globe. They consist of several stores offering different types of products and services with some of them being grocery stores and others being hypermarkets. They use different names in various regions and managed to attract millions of customers despite their diverse identity. For instance, in America, they are known as Walmart while in Japan they are the “Seiyu group”. This has helped them end up with loyal customers.
Walmart takes pride in catering for different needs of the customers through their diverse products. They have drug stores, convenient stores, apparel stores, and warehouses. They also provide electronics, cash and carry a well as supercenters.
Sam’s club, which is one of their entities, provides users with unique products that they would find anywhere else easily including in other Walmart stores. These products usually come from different brands and are of different types including “hard goods and soft goods”. Even their grocery stores provide a wide variety of items including edibles such as meat, beverages, dairy, and alcoholic drinks among others. All these make Walmart one of the most reliable stores since their customers are assured that whatever they need, a Walmart store will provide.
With the intention of selling items at low costs and getting small benefits, Walmart founder Sam Walton bought a store from two brothers. Although his main goal was to attract more customers, he faced the challenge of finding a good supplier who would give him products at a better discount.
He eventually found one but still had to deal with an expensive lease. This was in 1945 and it marked the beginning of Walmart. He ended up getting amazing sales during his first year of operation which translated to good revenue that kept on increasing the following years.
Following this success, Sam decided to incorporate Walmart Company in 1969, changing its name to “Walmart store” the following year in which he also opened an office and distribution facility. I had already opened over 30 other stores which were a source of employment to thousands of people.
This success continued until 1990 when the company was officially entitled the biggest retail company in the US. They had left their competitors so far behind that they didn’t face any real competition in most of the regions they operated in. They currently have over 11,000 stores in different parts of the world and have diversified their products to match the type of demand they receive.
Despite some of the controversies that the company has had to deal with, they aren’t showing signs of slowing down. They have been criticized for the way they handle their suppliers, employees and even in some cases customers. They have also dealt with criticism over lack of support for the environment and the sourcing of products from other countries, as well as their cost-cutting techniques.
These allegations and all the challenges they’ve had to handle have not deterred the company who have continued to form more partnerships and open more stores. They remain the largest retail store in the world with the future holding many prospects that customers are looking forward to.