What Are the Key Factors Allowing Wal-Mart to Position Itself Successfully in the Retail Market Above Its Competition?

Topics: Wal-Mart, Sam's Club, Sam Walton Pages: 4 (1057 words) Published: August 27, 2013
Wal-Mart, first opened in 1962 by Sam Walton in Rogers,Arkansas, has become the largest retailer in the world, with almost 10000 store locations and approximately 2 million employees worldwide. Despite the death of Sam Walton in 1992, Wal-Mart continues to be successful, reaching record annual sales of $437 billion in 2012. Each week, over 100 million customers visit a Wal-Mart store. Wal-Mart Stores have stood at #1 position on Fortune's 500 and Global 500 lists for the year 2012 as CNN reports.

Sam Walton founded the company in 1962 with a simple goal: Offer low prices to everyone. His notions of hard work and thrift continue to permeate Wal-Mart today. In 1969, the company officially incorporated as Wal-Mart Stores, Inc. And in the 1970s, a decade of incredible growth, "Mr. Sam" began to take Walmart national, proving his vision's widespread appeal. In 1983, the first Sam’s Club opened in Midwest City, Okla. Walmart replaced cash registers with computerized point-of-sale systems, enabling fast and accurate checkout. The first Walmart Supercenter opened in Washington, Mo., combining general merchandise and a full-scale supermarket to provide one-stop shopping convenience in 1988 . By 1990, Walmart was the nation's number-one retailer. As the Walmart Supercenter redefined convenience and one-stop shopping, Every Day Low Prices went international. Entering the new millennium, Walmart dedicated to offering customers a seamless shopping experience, whether they are online, in a store or on a mobile device.

Wal-Mart’s philosophy is to enable people to save money. As Sam Walton said:”if we work together we’ll lower the cost of living for everyone… we’ll give the world an opportunity to see what it’s like to save and have a better life.” Therefore, let us have a look at three beliefs of Walmart: Respect for the individual, Service to our customers and Striving for excellence. Respect for the individual means every customer and employee deserves to be treated...
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