Walmart Advantage

Topics: Employment, Pension, Department store Pages: 3 (1032 words) Published: November 24, 2012
In today’s society, customers are constantly searching for the best bargain for their money. Customers enjoy shopping and getting the best deals for their hard earned dollar. Thus, several retail stores have emerged and taken over the smart shopper’s frame of mind. Although there are several retailers in today’s society, the leading retailer would be Wal-Mart Stores.
It was in 1945 that a young man by the name of Sam Walton decided to open his own department store. Therefore, he purchased a store in Newport with the help of his father-in-law. Sam borrowed $20,000 from his father-in-law to go along with the $5,000 he had initially saved. Founded in 1962, Wal-Mart followed an amazing pattern of success and growth eclipsing all the other department store retailers by the early 1990’s.

Sam quickly learned that buying straight from the wholesaler would enable him to lower his prices as well as sell a larger quantity of product, ultimately increasing his sales volume and profits. Sam was a fast learner, which would prove to benefit him in the long run. He instilled three basic beliefs to build the company on: 1.Respect for the individual

2.Superior Service to the Customer
3.Strive for Excellence

Sam would soon open larger stores, which were called Walton’s Family Center. “The reason for its popular success is it still follows Sam Walton’s values: by hometown identity, each person is welcomed personally by People Greeters, the prices are low and customers do not have to wait for a sale to see savings.” (Kickul, 2004)

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