A little history.

In 1950, Sam Walton bought a Luther E. Harrison store in Bentonville, Arkansas, and opened Walton 5 & 10 . Thus, the city of Ozark Mountain , of 2,900 residents, would become the headquarters of the largest retailer in the world. At some point, Sam Walton made the decision to achieve higher sales volumes by keeping prices lower than his competitors by greatly reducing his own profit margin.

Inspired by such successes of other discount store chains, he decided to open a second store in Harrison, Arkansas, same year. Responsible for purchasing and maintenance of signage, Walton’s assistant, Bob Bogle, the one who suggested the name “Wal-Mart” for the new chain. A name part of a play of words between the surname of Sam, “Walton”, and the word market, “Mart”, So it is, “The Wal Market” or “Wal-Mart”.

Around 1967, the firm already had 24 stores established across the state of Arkansas, and reached $12.6 million in sales, and for the year 1968, the firm opened its first and great stores outside of Arkansas, in Sikeston , Missouri and Claremore , Oklahoma.

walmart

Back in 1977, Wal-Mart expanded to Illinois and made its first acquisition, assuming the ownership and operation of the Mohr-Value stores, which operated in Missouri and Illinois. Followed by the acquisition of the Hutcheson Shoe Company in 1978. In the same year it also branched into several new markets, launched its own chain of pharmacies, car service centers and jewelry divisions.

Walmart, 15 curiosities:

  1. Largest private employment offer of the planet, with more than 2 million workers.
  2. Executives, after working in walmart, start their own business providing advice and consulting.
  3. Spend less than 0.5% of it annual revenue in advertising

  4. Just online, they sell more than 1500 million dollars.
  5. It is the largest retail in the world, approximately 11 thousand stores under 65 brands in 28 countries.
  6. In 2013 the media announced its arrival in Peru, locals got exited but it was just a managing office.
  7. Founded in 1962 by Sam Walton, considered the richest man in the country between 1985 and 1988.
  8. When Walmart arrives in a country, it is useless for the competitors to resist, due to the great strategy of low prices, it is said.
  9. producer may take 1 year to be considered as a Walmart supplier.
  10. In 2012, Walmart sales were 460 billion dollars. Their most sold product in that year were bananas.
  11. 90% of Americans live 15 minutes from a Walmart.
  12. Walton’s family is valued at $ 150 trillion.

  13. Walmart is identified by its very low prices.
  14. Walton was so obsessed with saving to compete on prices , that bought planes to control transportation costs.
  15. Walmart gives all its workers a memorandum with “the Decalogue of Walton”. The text contains:
    • COMPROMISE with your business.
    • SHARE your benefits with all your coworkers (employees).
    • MOTIVATE your team by stimulating competition.
    • COMMUNICATE everything you can to your employees. The more you know, the more you will understand. The more they understand, the more they will do their best.
    • APPRECIATE every thing employees do for the company.
    • CELEBRATE successes and satirize failures. Do not take yourself too seriously. Have fun and always show enthusiasm.
    • LISTEN to everyone in your company and encourage communication.
    • EXCEED the expectations of your consumers.
    • CONTROL YOUR EXPENSES better than your competitors. So you can always find your competitive advantage.
    • EXPERIENCE by letting go conventional wisdom, because if the rest of the competition works in a determined way, the situation becomes an opportunity for you to find a niche based on going exactly the opposite direction. But be prepared because there will be many people who will be telling you that you have taken the wrong path.
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