What is Walmart?

The question: what is Walmart has many answers. One of those answers would be Walmart is largest retailer in the world. Another is Wal-mart is the corporation that employs the most number of people privately in the world. Walmart is also the world’s largest public corporation in the world revenue considered and the 18th largest all other parameters considered. In general, it is a large public corporation (WMT at the New York Stock Exchange: NYSE) globally but based in the US, and it operates numerous retail and warehouse stores. Let’s see how this company came to be and its journey.

Inception of Walmart
The founder of Wal-mart is Sam Walton, a business man from Arkansas, whose passion for retail developed when he was working at one of the numerous J.C Penney stores in the US in 1943. After a year and a half at the store, Walker met Butler Brothers, owner of Ben Franklin, series of variety stores. Brothers offered leased him a store in Newport where he registered phenomenal success as a retailer. When the lease came up for renewal, however, Walker declined the terms and chose to start a franchise for Ben Franklin in Rogers. He named it Walton’s Five and Dime and the store continued his streak of phenomenal success. Come 1962, Walker decided to go solo in retail. He started Wal-mart in 1962 and in five years he had opened 24 stores in his hometown of Arkansas, reaching ~$13 million in sales. By 1968, there were stores in other states in the US. He registered his business as Walmart Stores Inc in 1969 and three years down the line, its shares hit the NYSE. The story of what is Walmart today had officially begun. The 70s saw great growth of Wal-mart that would continue into the 80’s. Stores opened in more and more states in the US and success at the stock exchange was registered and continued. By the time stores started to open in Texas in ‘75, Walmart employed 7500 people and reached $340 million in sales.

The 80s and Beyond
The 80s was the period Wal-mart grew the most, registering $15.9 billion in sales in 1987 and employing 200, 000 in the roughly 1200 stores it operated. The period also saw the company start what was by then the largest private satellite network which allowed all stores to communicate directly with the Arkansas headquarters. The network featured video communication in one way mode and voice in two way mode. Inventory and sales were tracked directly and new directives were issued in an instant from headquarters. By the time Walker resigned as CEO in 1988, he had set Walmart on the road to becoming that largest retail company in the world. David Glass took the reins in his place. The 90s saw Wal-Mart expand into Europe, South America and Argentina. David Glass was replaced by Lee Scott as CEO and president in 2000 and at that time, sales hit $165 billion. In 2002, Wal-Mart was America’s largest corporation according to Fortune, an accolade the company has maintained throughout the years except for 2006.

What is Walmart Supercenter?

The Wal-Mart Supercenter is an extremely large store (also called a hypermarket) with a size of between 90,000 to 260,000 square feet. The stores offers all the services a discount store offers moving all the way up to those of a conventional supermarket with meat products, dairy products, poultry products, farm produce and even seafood. The Walmart stores feature local bank branches there-in to assist with cash for shoppers and may also have common service establishments such as pharmacies, optical centres, tyre and lube, hair and beauty salons and mobile phone shops.
The first Walmart Supercenter was established in Washington in 1988 and as of April 2011, Walmart had ~3000 such stores. That is in the US alone.

What is Wal-mart Market?
The concept of Walmart market was conceived by Walmart to entice shoppers who wanted to avoid the hassle of shopping in the larger stores and Walmart Supercenters. Shoppers sometimes avoid these large stores for lack of parking, slow check-out service and crowdedness.
The Walmart Market is a series of small stores in an area offering a variety of services. What is Walmart Market today was a concept called Neighbourhood Market in ’98-2010.

What is Walmart Issues: Economic, Social and Environmental

Economists in many areas of the world have lauded the introduction of Walmart stores in many stores as completely overturning the existent retail environments. Introduction of a Walmart store in many a town has led to capturing of over half of the retail business. Regardless, the shopping experiences of residents in these areas have been improved with greater availability of products and services and cheaper prices. The Walmart Corporation showed its regard for social corporate responsibility in the wake of Hurricane Katrina. Using its extensive knowledge of the local supply chains, Walmart facilitated fast delivery of relief items and made generous donations. CEO Lee Scott has recently launched numerous initiatives aimed reducing usage of energy by the stores and store trucks as well as harmful emissions from both. This is by employing energy-efficient methods of operation and utilizing renewable sources of energy.

Keyword Statistics
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