Essay on the Introduction and History of Walmart

About Walmart: From just a small store that started with the single discount store along with the simple idea for selling out more for the less have grown successfully from the last 50 years into one of the largest retailer in the whole world. Almost every week, approximately 265 million customers as well as members visit this store for different purposes. There are almost 11,500 different stores or outlets of this Walmart under 56 of the different banners in almost 27 countries around the whole globe as well as the e-commerce websites. With the fiscal year of 2020, revenue was almost $524 billion. Walmart is the one which employs more than 2.2 million of the associates in the whole world. Walmart is the one that continues to be the leader in sustainability, employment opportunity along with the corporate philanthropy. This all is the part for all of our unwavering commitment for the creation of different opportunities along with bringing the value to the different customers as well as the communities around the whole globe. (Michelson, 2018)

Background/History of Walmart: Walmart has been evolved from the goals of Sam Walton for providing great services along with satisfying the customers and giving out best services to them by all means. Sam Walton is the one on whose name this store has been named after. He was born in year 1918 in the Kingfisher, Oklahoma. In the year 1942, at an age of 24 he thought of joining the military. After he got retired, he thought of opening this Walmart store. In year 1950, he opened a store in the 5&10 on the downtown square. After getting inspired from the early success of his dime store and giving better opportunities and values to their customers he opened the actual first branch of Walmart in the year 1962at the age of almost 44 years.

Different competitors of Sam then thought about his idea that a successful business could be built around by offering some of the lower prices along with some of the great services as well that would never work. This company then went public in the year 1970 and all the proceeds have also been financed as a steady expansion of the business. Sam then credited this successful rapid growth of the Walmart and it doesn’t refers to the low costs that used to attract the large number of customers. Sam then shared out the vision for a company with different associates. He made all of them to be the partners in success for a company and then believed firmly as well the partnership is the one that made this Walmart one of the greatest and leading store. This is the reason that people love this store a lot. (Verma, 2019)

As the store started getting famous and it started to grow its outlets as well, expectations of the Sam also started to grow. In addition to bringing out all of the new approaches along with the technologies to retail. Along with all this, he also experimented with the new store formats as well.

Initially they didn’t start with putting so many things under one roof but as the time started to pass and so are the necessities of life the store started to get more developed. This is one of the leading stores where one can find almost everything under one roof without getting worried. Starting from the grocery items to the choosing out the daily life outfits. One can find each and everything.  (Nguyen, 2017)

Sam said that:

“If people start working together, they will lower out the cost of living for almost everyone. We will definitely give out an opportunity to see that what it is like to save along with having a better life as well.”

These days, saving the money of the different individuals so that they can live in a much better way. It is considered to be the driving force behind each and everything that we do.

History of Walmart is something way more than just the simple stores that they have built, partnerships they have made along with the longlist of the customers they have served so far.

People are almost addicted of using this store and finding different materials for their homes that are in their budget as well. If their price is affordable that doesn’t mean at all that they also compromise on the quality. No, they don’t. They provide best quality material at affordable rates.

References of Introduction and History of Walmart

Michelson, H. B. (2018). Connecting supermarkets and farms: the role of intermediaries in Walmart China's fresh produce supply chains. . Renewable Agriculture and Food Systems,, 47-59.

Nguyen, T. T. (2017). Wal-Mart’s successfully integrated supply chain and the necessity of establishing the Triple-A supply chain in the 21st century. Journal of Economics & Management,, 102-117.

Verma, A. P. (2019). An incisive assessment of Walmart’s supply chain management.