“One of the World’s biggest retailers and largest corporations”
Contents Of The Article:
- What is Walmart?
- What makes Walmart stand out among competitors?
- Walmart: Unique tactics to attract customers to buy more
“Individuals don’t win, teams do.” – Sam Walton (Founder of Walmart)
What is Walmart?
Walmart Stores, Inc. was founded by Sam Walton in 1962. It is a multinational retail corporation that acquires large scales of warehouses and stores. Walmart produces sales over 300 billion dollars annually which makes them considered as one of the World’s biggest retailers corporation.
Walmart acquired more than 5,000 stores worldwide, but 80% are located in the United States.
Founder of Walmart, Sam Walton, aims to keep prices as low as possible, he believed in the quotation saying, “offer shoppers lower prices than they get anywhere else.” Who would have known that this basic rule of Walton will become the reason for Walmart's growth.
What makes Walmart stand out among competitors?
Walmart’s strategies make them the most powerful retailer with tons of profits. Improving and focusing to make their company better, they were able to become efficient and effective as a retailer.
Their unique strategies also make them more committed to their business that they think of different ideas on how they will become successful.
Walmart aims to provide their customers the best goods and services, whatever they need and want.
They focused on how they can keep their customers satisfied, one of their brilliant ideas is to fix and offer their prices very low, their most competitive advantage from others is that they were able to develop a very strong advanced supply chain management strategy.
Here are the lists of why Walmart considered as an effectives retailer:
Over the years, Walmart managed to maintain customer-friendly prices rather than overpricing products, instead, they focused on selling bulk products to maximize their profit. Walmart is the first thing that will pop up in your mind when you hear the word “SALE”. They are famously known as selling products way too much lower than other retailers. Many consumers are really thankful since they can save more than they expected.
They study customer’s needs and wants very well. So they come up with an idea to sell a wide variety of products in every category that ranges from goods, entertainment, furniture, clothes, etc.
One of their strategies in terms of product is that they maintain good relationships with their suppliers.
One of their biggest strengths is that they are under an E-commerce platform which allows their customers to buy through online. They also study their physical store if it is worth it or if they can gain customers in that place.
Walmart is known as giving vouchers or discounts every now and then regardless if there are occasions or not. They often use their famous tagline, “everyday low prices with Walmart” which attracts thousands of customers.
Walmart has a huge employer in the United States and also has a big contribution with regards to the economy.
Walmart proved enough that they built a strong company that will never be closed which makes their employees feel safe and secure of their jobs.
Walmart: Unique tactics to attract customers to buy more
Walmart is the biggest retailer store in the United States with over 5,000 stores and making 500 billion dollars sales.
Wherever you go shopping at Walmart, you can’t help but to buy everything you will see that is on sale and due to the wide variety of products, it will surely attract you to buy even if it is not really a must!
Here are some unique tactics of Walmart that most of you didn’t know:
• Big Shopping Carts
Most of you may not realize that this is one of Walmart’s sneaky ways to make you shop for more! The moment you enter Walmart, you will easily access big shopping carts, the chances are when you roam around Walmart you can easily be attracted by their sales products.
• One of the best-selling items is.. BANANA?
Yes, you’ve read it right! For over a number of years, Walmart managed to sell around a billion pounds of bananas over a year.
• Walmart acquired business over 60 different names
Walmart has stores that operate around the world, but in a very sneaky way, they didn’t put Walmart as its name.
REFERENCES:
https://www.myprosandcons.com/business/pros-and-cons-of-walmart/
https://connectusfund.org/list-of-10-main-pros-and-cons-of-walmart
https://corporatefinanceinstitute.com/resources/knowledge/other/walmart-marketing-mix/
https://money.howstuffworks.com/wal-mart.htm
https://www.britannica.com/topic/Walmart
15 Things You Didn't Know About WALMART - YouTube