Walmart History Essay

History of Walmart:
• Sam Walton opened the first Walmart in 1962 in Rogers, Arkansas. Walmart operates over 11,700 retails in 28 countries (4,300 stores in the U.S.).
What products/services do they produce: Walmart offers a variety of services, including retail goods, pharmacy, financial, wireless and photo lab services. It also offers online services on Walmart.com, which includes free shipping on eligible items that total more than $49.
Volume of sales & revenue: “For the year 2017, the fourth quarter total revenue was $130.9 billion, an increase of 1.0%. Net sales at Walmart International were $31.0 billion, a decrease of 5.1%. E-commerce growth at Walmart U.S. was strong as sales and GMV increased 29.0% and 36.1%, respectively, including

They employ approximately 2.3 million associates around the world (1.5 million in the U.S. alone). 100 million people shop at Walmart stores every week. Eighty percent of American shoppers visit Walmart at least once annually to shop for items. Households that make between $35k-$50k make up the greatest percentage of Walmart’s customers, accounting for over 20% of total shoppers.
Customer information: Walmart’s target customers are people who want to save money every day. They receive great prices and exceptional customer service. The people who work hard for their money, living from paycheck to paycheck are the ones who are benefiting the most from Walmart’s pricing. They can also appreciate the quality of products purchased at the retail giant.

Channels of distribution used: Walmart has large brick and mortar chains and started online e—commerce business. Customers can shop by their near Walmart store or visit their online website. Walmart began with the goal to provide customers with the goods they want whenever and wherever they want them. The company then focused on developing cost structures that allowed it to offer low everyday pricing. Walmart arranges with such organizations to sell their goods directly to them, instead of through wholesalers. The company is able to influence retailers solely because of their own capability in handling distribution

State and discuss the company mission statement: Walmart’s mission statement is “Saving people money so they can live better.” Consumers save money through Walmart’s low selling prices. It talks about improving consumer’s daily life by selling quality products around the globe.
2. State and discuss the company vision statement: Walmart’s vision statement is “To be the best retailer in the hearts and minds of consumers and employees”. Walmart’s vision statement points to the minds and hearts of the people that matter most to the business such as the consumers and employees. The company has influenced the minds of consumers and employees based on financial benefits. Employees earn wages, while consumers save money through Walmart’s low prices.
3. State and describe the philosophy of the company: The management philosophy of Walmart is defined by its constant commitment to price leadership and product variety. Walmart shoppers are provided with an experience by having Walmart Neighborhood market stores for their grocery and pharmacy needs. Customers can shop additional items including top toys, gifts, electronics and home decor on Walmart.com through Walmart pickup, which will offer free shipping to the Springfield Walmart Neighborhood