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Walmart

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Walmart

Key Insights and Practical Lessons from the World's Largest Retailer

Kogan Page,

15 мин на чтение
10 основных идей
Аудио и текст

Что внутри?

How a little discount store in Bentonville, Arkansas, took over the world of retailing.

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Editorial Rating

7

Qualities

  • Background
  • Concrete Examples
  • Engaging

Recommendation

From its humble beginnings in 1962, Walmart climbed to the top of the retail pyramid, tallying annual sales of more than $400 billion as of its 50th anniversary in 2012. Walmart’s relentless pursuit of “Everyday Low Prices” saves shoppers billions, but is it the customers’ best friend or the giant that emptied Main Street storefronts? Is it the vendors’ top ally because of the volume it buys, or does it squeeze suppliers without relief in its quest to offer the lowest possible prices? Perhaps the answer is a bit of all of the above, according to retail analysts Natalie Berg and Bryan Roberts, who examine how Walmart has forever changed retailing, production and distribution methods, as well as consumer behavior. Today, the chain faces new challenges as the US market becomes saturated, consumer habits evolve and the international landscape changes. Though the authors’ prose can be a bit dense, getAbstract recommends this well-researched corporate biography to business historians, retailers, analysts and Walmart shoppers everywhere.

Summary

From Small to Gigantic

After World War II, a new type of consumerism emerged in American society. Products did more than fulfill functions; they enhanced people’s way of life. When Walmart opened for business in 1962, several factors were actively contributing to the rise of the American customer, including access to higher education, a nationwide embrace of consumer credit, the advent of television as an advertising medium, and new technologies for preparing and storing food.

Sam Walton, Walmart’s founder, began with a small store in Bentonville, Arkansas. He realized that national retailers neglected US small towns and rural areas to sell in densely populated suburbs. The company’s original tactic was to provide underserved markets with an array of national brands at lower prices. By 1990, Walmart had become the largest retailer in the US, outperforming Sears and Kmart in the “fast-moving consumer goods” industry. Walton’s formula still serves Walmart well: It offers customers the products they want at affordable prices.

Walmart fulfills its promise of “Everyday Low Prices” (EDLP) and its motto, “We sell for less...always,” by pursuing efficiency, using cutting...

About the Authors

Natalie Berg is the research director at Planet Retail, a firm specializing in retail analysis. Bryan Roberts is a Walmart analyst and a director at Kantar Retail EMEA.

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