walmart.docx - Introduction Wal-Mart a retail company created in 1962 headquartered in Bentonville Arkansas US WalMart was founded by Sam Walton under

walmart.docx - Introduction Wal-Mart a retail company...

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Introduction Wal-Mart, a retail company created in 1962, headquartered in Bentonville, Arkansas, US. Wal- Mart was founded by Sam Walton under the idea of changing the face of retail as we know it. In last fifty years, Wal-mart with rapidly development and growth, from a single discount store to a worldwide largest retailer. Wal-mart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. However, in the process of rapidly expand, Wal-Mart
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facing some negative issues in either domestic or international market. Such as, low profit margin, low employee loyalty and low differentiation problem. In this report, we will analyze Wal-Mart market in terms of management perspectives and compare Wal-Mart with other competitors. Furthermore, we will give suggestions to Wal-Mart Store Inc.’s future development. Brief Description Slogan Save money. Live better. Company summary: Wal-Mart started small, and over the last 50 years the idea of selling more for lower prices has become more attractive, which eventually made them the largest retailer in the world (Wal-Mart). The idea of selling more for lower prices implies that Wal-Mart are after having huge sales volume, so they can have a bigger market share. Approximately, 260 million customers visit Wal-Mart stores every single week. Wal-Mart has 11,695 stores in 28 countries and employs 2.3 million people worldwide. By the end of 2016, Wal-Mart generated $485.9 billion in revenues (Wal-Mart). According to Mergent online, in the first quarter of 2017 Wal-Mart made $116.5 billion in sales, and their profits were $14.3 billion which both profits and revenues are way higher than their competitors (see Appendix A, Exhibit 1 for more information). In 2015, They had 65.1% of the market share in the wholesale industry, compared to other major competitors like Costco with 17.1%, and SuperTarget with 2.2% (Globalmna, p.38-42). As we can see from the report, Wal-Mart is the biggest wholesaler and we can assume that it enjoys a huge buying power from their suppliers compared to other competitors. Mission Statement:
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According to Sam Walton the founder of Wal-Mart point of view, he said in order to succeed in the retailing business you have to give customers what they want, and to put yourself in the customer's’ shoes (Wal-Mart). What he means by that, is to consider yourself as a customer and to think what might “you” need as a customer from a wide variety of products and the lowest prices possible, and to be satisfied with your purchases. For the services part, customers need friendly service, convenient hours, and most importantly a pleasant shopping experience. Wal-Mart successfully implemented the variety of products and low prices to customers from their mission statement. In addition, from the services, they implemented having convenient hours. However, more work need to be done in order to solve problems with providing friendly service and a pleasant shopping experience.
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