Walmart Shoppers always strive to obtain the best and best quality goods, yet the price is a strong incentive to deal with the one that provides the lowest prices for the same goods, which saves savings even if it is minimal, this is what the founder of Walmart noted and sought to implement it achieving the results of his authorization to become the owner of one of the strongest selling companies Retail in the world.
One of the largest retail companies, and considered an economic and social power, started with a simple idea that came to mind of its founder, Sam Walton, when shoppers were offered cheaper prices than anywhere else to develop the idea, and become the basis for the work of the giant Walmart company that has great power in the labor market and is able to change the way it works Various industries.
Walmart’s business strategy
Walton’s culture of savings and economy contributed to Walmart’s success, despite the many criticisms leveled at him as a result of low wages, limited medical care provided to employees, and extra hours of work free of charge.
Walmart store managers work for a period of 70 hours per week asking to reduce costs as much as possible even in the case of heating and cooling. In winter, the temperature in Walmart stores is set at 70 degrees Fahrenheit, and in summer at 73 degrees Fahrenheit.
The culture of savings is evident even in the company’s headquarters in Bentonville, Arkansas rather than in any city where work costs are high, such as New York, where the company’s building seems normal and you don’t find officials coming with their luxury cars but rather traveling on public transportation, and they share rooms in hotels with other colleagues.
Essentially, Walmart wanted to keep retail prices as low as possible and had what they wanted, as economists estimated that they contribute about 15% savings to shoppers, in addition to being pushed by many of the goods suppliers to lower their prices as well.
Work in Walmart
Working at Walmart is a learning profession in itself. About 75% of management groups in stores have started working as assistants, and in recent years the company has promoted about 200,000 workers and handed them new jobs with greater responsibilities and higher wages.
The company’s expansions during the new millennium:
By the year 2000, Wal-Mart was the first company to provide customers with shopping through the Internet, as its own website was established, and in 2002 it became one of the top 500 companies in America in terms of revenue, according to what was published in the “Fortune” magazine.
During the year 2004, the company’s stores reached 1500 stores spread in many countries around the world, which are: Argentina, Canada, Germany, China, Brazil, Japan, Korea, Mexico and the United Kingdom.
The company’s achievements in social terms:
- She launched an anti-drug program during 2009.
- It provided nearly $ 18 million in aid, and 2,450 trucks of supplies to Hurricane Katrina and Rita victims.
- The company announced its goals to eliminate waste, rely on renewable energy, and sell products that do not pollute the environment and keep people safe.
- It pledged to spend $ 2 billion until 2015 to end hunger in the United States.
- It provided its customers with the highest quality food and the best prices, and it also sought to help local farmers by launching a global commitment to sustainable agriculture.