Get to know more about Walmart Store

Walmart is  the world's largest chain of stores and is ranked first among the world's largest companies. The American retailer is the largest grocery chain with supermarkets and hypermarkets in the world. Walmart is also the world's largest chain store chain, due to sales of $514 billion in fiscal 2019. Income is known.

Get to know Walmart more

In 1962, the first Walmart chain store was opened by Sam Walton and his brother in Arkansas , USA, and within five years, the store grew from 1 to 24 stores in the state, and sales exceeded $12.6 million. The following year, new stores were established outside of Arkansas, and in 1969, the Walmart Chain Store Corporation was recognized. It was recognized.

Walmart entered the international market after opening stores in Mexico and  continued to grow through the opening of new stores or the acquisition of retailers based in countries such as China, Germany, the United Kingdom, and Canada. In 1997, the Walmart chain was recognized as the largest private company in the world, with 1,140,000 people in terms of the number of employees. Let's review the brand together:

• In 2001, Walmart became the world's largest store chain, generating a whopping $191 billion in sales
• In 2003, it opened its stores in Beijing and so far they have 22 stores in China
• Walmart closed its stores in Germany in 2006
• As of July 2007, Walmart had more than 2,500 store units worldwide and more than 500,000 employers operating in various countries
• In 2008, it opened its wholesale store in India.

Key Features of Walmart Store

The Walmart chain store, by adhering to its principle, which is the slogan of "Lower Price Every Day", was able to sell more products after its inception, with the help of reducing the amount of profits from sales. In these stores, in order to gain the trust of customers, in addition to discounts on the prices of products, on various occasions, sometimes special sales for certain products are put in place.

Another feature of Walmart is the rule that the company's founder, Sam Walton, proposed called  the "ten foot" rule. In his frequent visits to stores, he encouraged salespeople to be committed and act in this way in dealing with customers.  Look the customer in the eye when they come in, greet them, and ask them what you can do for them. "I've learned from the beginning that one of the mysteries of leadership is to do at least one very simple thing or small service for everyone," says Sam Walton. If you know the customer, call them by name, and if they're newcomers, start talking to them kindly." It is interesting to note that even today, all Walmart employees around the world practice this philosophy.

 What is Walmart's field of activity?

Walmart's stores are retail and aim to sell groceries with the lowest profits. The store has made it a priority to attract new customers and retain existing customers by taking advantage of benefits such as great discounts.

Walmart's Traditional and Online Stores

Walmart's largest sales segment accounted for 2.67% of the company's net sales in 2005, which is based on traditional stores in the United States. Walmart has 3,864 stores in the U.S. and branches outside the U.S., including Germany, China, Mexico, Canada, Brazil, Japan, and the United Kingdom, with more than 1,800,000 retailers responding to more than 138 million customers worldwide on a weekly basis.

Among the products available at Walmart, we can mention the entertainment group such as electronic products, toys, cameras, movies, music and books, the color and hardware group, automotive, sporting goods, handicrafts, and the category of seasonal clothing goods including clothing for men, women, boys, girls, shoes, jewelry and accessories, the group of home appliances including home furnishing services, home decoration. It is interesting to note that about 61,000 suppliers of goods available at Walmart in the United States have three million jobs.

Fruit & Vegetable Markets & Grocery Stores

Grocery stores and fruit and vegetable markets, or supercenters, were first established in 1988. The trend at Walmart has been steadily growing, with snacks, beverages, and fresh foods among the strongest categories.

Sam's Clubs

Sam's Clubs is a $31 billion company with more than 46 million active members working in 350 different branches. These clubs are partners with many small businesses, and nearly 13% of the Walmart chain's sales come from this route. Sam's Clubs operates as a warehouse throughout the United States. In relation to retailers and small businesses, delis, restaurants, offices, etc. They do.

Walmart's Local Markets and International Stores

Neighboring or local markets are also suppliers of vegetables, pharmaceutical goods, and general goods. It goes without saying that international stores, which are divided into three sections: retailers, wholesalers, and other small projects, are active in this brand in more than 15% of the countries of the world and account for about 20% of the sales share.

 Do you know the secrets of Walmart's success?

By analyzing the strategies of Walmart stores, it is possible to understand to some extent the secrets of the success of this large chain company. These secrets are, in a nutshell, innovation in pricing, increasing customer engagement channels, providing a pleasant customer experience, and extensive collection competition.

Of course, Walmart stores use different names in different countries. For example, in Japan, it uses the name  Seiyu Group and in the United Kingdom, it uses the name  Asda to supply goods. Thus, Walmart expanded the number of its branches in 28 different countries to 11,695 branches as of January 31, 2017, and today some economists believe that if Walmart were a country, It would have become the 28th largest economy in the world.

New Technology and Initiatives of Walmart Stores

With more than 11,000 branches worldwide, Walmart  is the world's largest retailer as the largest chain of grocery stores, supermarkets, and hypermarkets. On the other hand, this prestigious brand has been given the title of the world's highest-paid chain store.

Walmart has recently been inspecting and monitoring thousands of stores with the help of its new vision intelligence technology. The brand is using vision technology to control customers' payment methods and prevent potential thefts in its more than 1,000 stores. The monitoring app is called "Detect Missed Items on Scan." The supermarket chain uses cameras to detect items that have been scanned incorrectly or detects their failed scanning process.

Interestingly, in 2005, the Walmart chain began using solar panels, wind turbines, and cooling refrigerators in its stores in Colorado and Texas. and with the implementation of this plan, it plans to reduce its annual expenses by up to $15 million.

In 2006, in order to attract more affluent customers and prevent its competitors, it introduced supercenters with facilities such as luxury restaurants and coffee shops, wide and parqueted corridors, etc. . Did you know that all these supercenters are free of charge?

A Vision for the Future of the Walmart Store

Walmart founder Sam Walton's view is that in addition to the risk and risk-taking that is normal in retail. This large international company is exposed to market risks, including changes in interest rates and foreign exchange rates.  However, he emphasizes that Walmart must continue to increase the standard and quality of life of people everywhere in the world. "We will be committed to being responsible citizens," he says. We will also continue our conscientiousness to cooperate and help charities and social organizations."

Walmart, the giant of the retail industry

One of the most important factors affecting Sam Walton's success in the process of establishing his magnificent empire is to go against the mainstream of the market. At a time when all stores were selling their products at high profits and astronomical prices, Walmart was selling all its products at the lowest profit. It is work. This brand achieved legendary success and fame in this way.