How big is Walmart?

Everyone knows Wal-Mart is big. Here are a few pieces of information that you may like to know. Like any other data on Retail this also may be stale. Yet a good picture can be formed.

Walmart was started by Sam Walton. Sam began retail career 1940 making $75 a month as J.C. Penney sales clerk. Opened Ben Franklin 5-and-10 store in Newport, Ark. 5 years later; lost lease of the premises. Sam had to give up the dream project he built with his hard work. He moved out of Newport to find a new place and fortune, which he did.  Then With brother James opened chain of general stores in Bentonville, Ark. 1962. In 1970 Wal-Mart went public.

Now world's largest retailer, with more than 6,800 stores in 14 countries; 1.9 million employees. Sales: $375 billion. 100 million people a week buy into the "we're just like you" message. The company's annual sales rivals the gross domestic product of Austria, the world's twenty-second largest economy. Wal-Mart even topped 'Forbes' magazines list of top 500 companies based on revenue, stealing the top spot from long time holders General Motors and Exxon Mobil.

Wal-Mart's appeal with consumers is largely based on its promotion of small-town flavour. From a people greeter in every store to in-store events, including Halloween fashion shows and Oreo stacking contests, the company's goal of spreading that hometown flavour has been key to its success.

This distinct approach to discount retailing is imbedded in the company's corporate culture. This culture began with Sam Walton's own charismatic personality and is fostered among the company employees, who are referred to as 'associates.' The company puts an almost OBSESSIVE focus on exceeding customer expectations and continuously mines the associates for fresh ideas. In return, the company receives a cult like loyalty from its associates, some of whom have become millionaires as a result of company stock options.

Indian Retailers can learn a lot from the work already done by others in the field. After learning we need to use those things in a way it is possible in our own store.

Navendu Mahodaya
Motivator-Trainer-Consultant
nmahodaya@hotmail.com