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What the company is doing

Walmart, or Walmart, Inc. in full, is a discount operator, which was once one of the world's biggest retailers and one of the largest businesses in the world, Walmart Stores, Inc. Headquarters of the company are based in Bentonville. In 9 750 retail units under 60 banners in 28 countries, Walmart has more than two million employees.

How big it is

Walmart offers foodstuffs and products, which run 5,400 stores in the US, including nearly 4,800 Walmart shops and 600 Sam's Club warehouse clubs. There are around 6,000 outlets in Walmart's international division. It is the #1 distributor in Canada and Mexico and has operations in Asia, Africa, Europe, and Latin America through regional subsidiaries. Around 265 million clients visit the stores and websites of Walmart every week.

The history of the brand

Established in 1962 by Sam Walton in Rogers, Arkansas, Wal-Mart focused on rural areas, thus avoiding rivalry with retail giants like Sears and Kmart. As it expanded, new retail formats were built, including discount warehouses of Sam's Club (1983) and super-centers of Wal-Mart (1988). Wal-Mart was one of the biggest food manufacturers in the United States within a decade of opening the Supercenters hybrid food and merchandise businesses.

Business directions

Walmart's strategy has been built around the Every Day Low Price (EDLP) program, and its prices have never been better. The consumer today is searching for the comfort of Walmart shopping. They have a profound variety that customers enjoy, from food and entertainment to sports products and crafts—whether shopping online, with one of Walmart's smartphone applications, or shopping in a store. Walmart also operates three major formats of the stores in the United States, each personalized to its neighborhood. Walmart US CEO is John Furner.

Key facts about the company

Over the years, Walmart has established a range of unique practices, principles, laws, and processes. They all help to develop the organizational culture of the behemoth. Some of the best-known practices of Walmart include:

Open Door Policy: Doors for managers are open to all levels of workers.

Sundown Rule: On the same day, questions are submitted, employees should answer every customer and supplier question.

Grass Roots Process: Walmart tries to gather and incorporate proposals and suggestions from the sales floors and fronts.

Three core principles and values: individual respect, service to customers, and a passion for excellence, are the cornerstones of the business.

The 10-foot law: eye contact, greet, and assist customers who are within 10 meters are the main rules that are applicable 24/7.

Servant leadership: Leaders should help the team, not the other way round.

The Walmart Cheer: This is a genuine, orchestrated chant produced every morning by the creator Sam Walton. After he visited a production facility in Korea in 1975, he liked the idea and implemented it.

Mission and vision

Walmart's new mission statement and campaign slogan are the same: "Save people money so they can live better."

Typical Hours of Operation

Mo 7:00 - 20:30
Tu 7:00 - 20:30
We 7:00 - 20:30
Th 7:00 - 20:30
Fr 7:00 - 20:30
Sa 7:00 - 20:30
Su 7:00 - 20:30

Locations: 5279 locations in 51 states and 2571 cities.

Categories

  • Discount Stores
  • Department Stores
  • General Merchandise

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