What is Walmart? - Products, Services and History

Table of Contents

 

1. What is Walmart?

Walmart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores in the United States and many other countries. It is the world’s largest company by revenue and the largest private employer in the world. It was founded by Sam Walton in 1962 and is headquartered in Bentonville, Arkansas123.

 

 

2. Walmart: Products and Services

• Walmart’s key products and services are:

  • Retail: Walmart operates a chain of hypermarkets, discount department stores, and grocery stores that offer a wide range of products, such as electronics, apparel, toys, home furnishings, health and beauty aids, hardware, and more. Walmart also sells its own private-label brands, such as Great Value, Equate, and Mainstays12.
  • eCommerce: Walmart has an online platform, Walmart.com, that allows customers to shop anytime and anywhere online and in stores. Walmart also owns and operates other eCommerce websites, such as Jet.com, Flipkart, and Sam’s Club12.
  • Pharmacy: Walmart has a pharmacy division that provides prescription drugs, vaccines, testing and treatment services, and specialty pharmacy services. Walmart also offers a $4 prescription program and a mail order pharmacy service13.
  • Financial Services: Walmart offers various financial services, such as the Walmart Credit Card, the Walmart MoneyCard, money transfers, check cashing, bill pay, and tax services. Walmart also has a debit card, ONE, that gives customers cash back rewards14.
  • Other Services: Walmart provides other services, such as photo, vision, auto care, assembly, installation, and protection plans. Walmart also has a social impact program, Spark Good, that supports community and nonprofit initiatives1 .

 

 

3. Walmart: History

• Walmart’s history can be summarized as follows:

  • Founding: Walmart was founded by Sam Walton in 1962 as a single store in Rogers, Arkansas. He had previously owned a chain of five-and-dime stores called Walton’s, which he started in 1950123.
  • Expansion: Walmart grew rapidly by opening more stores in rural areas and offering low prices and a wide selection of products. By 1970, it had 38 stores and over 1,500 employees. It also became a public company and listed on the New York Stock Exchange123.
  • Diversification: Walmart diversified its business by launching new formats, such as Sam’s Club (a warehouse club), Walmart Supercenter (a hypermarket), and Neighborhood Market (a grocery store). It also entered new markets, such as Canada, Mexico, China, and India. It also acquired other retailers, such as ASDA, Jet.com, and Flipkart123.
  • Innovation: Walmart innovated its operations and technology by adopting the barcode system, the satellite network, the RFID tags, and the self-checkout machines. It also developed its own private-label brands, such as Great Value, Equate, and Mainstays. It also launched its online platform, Walmart.com, and its mobile app, Walmart Pay123.
  • Impact: Walmart became the world’s largest company by revenue and the largest private employer in the world. It also became one of the most influential and controversial corporations in the global retail industry. It has been praised for its efficiency, innovation, and philanthropy, but also criticized for its labor practices, environmental impact, and market dominance123.

 

 

4. Walmart: Competitors

Walmart is the world’s largest retailer chain, offering a wide range of products and services across multiple platforms. However, it faces strong competition from other companies in the retail industry, both offline and online. Here are some of the top competitors and alternatives to Walmart:

• Amazon: The global eCommerce giant that dominates the online shopping market and offers a variety of products, services, and devices. Amazon has over 2 million sellers on its US third-party store and generated $189 billion in revenues in 2020 from the market1.
• Costco: A membership-based warehouse club that offers discounted prices on brand-name items and everyday goods. Costco operates over 800 warehouses worldwide and generated $78 billion in revenues in 20201.
• Target: The third-largest discount retailer in the world, with nearly 1,900 stores across North America. Target offers a wide selection of products, including groceries, apparel, electronics, and home furnishings. Target’s comparable sales of 19.3% outperformed Walmart’s US comp sales of 8.7% in 20202.
• Kroger: The largest supermarket chain in the US, with over 2,700 stores and 35 regional banners. Kroger sells groceries, pharmacy, fuel, and other products and services. Kroger’s digital sales grew by 116% in 2020, reaching $10 billion2.
• Alibaba: The Chinese eCommerce giant that operates several online platforms, including Taobao, Tmall, AliExpress, and Alibaba.com. Alibaba offers a range of products, services, and cloud computing solutions to consumers and businesses. Alibaba’s annual active consumers reached 779 million in 2020, up 22% year-over-year3.

 

 

5. Walmart: CEO

The current CEO of Walmart is Doug McMillon123. He has been the president and CEO of Walmart since January 201723. He started his career at Walmart as an hourly associate unloading trailers in 198445. He has also served as the president and CEO of Walmart International and Sam’s Club123. He is a member of the board of directors of Walmart, Business Roundtable, the Consumer Goods Forum, and the U.S.-China Business Council123. He has a bachelor’s degree in business administration from the University of Arkansas and a master’s degree in business administration from the University of Tulsa123.

 

 

If you liked the post, please support me by subscribing, liking, and commenting, it will help me make more posts. ^^

" This material is for informational purposes only. We cannot guarantee the accuracy or completeness of the content, so please use it as a reference only. This material may not be used as evidence of legal liability under any circumstances. "

2023.12.12 - [Introduce and analyze companies] - What is Eli Lilly? - Products, Services and History

What is Eli Lilly? - Products, Services and History

2023.12.12 - [Introduce and analyze companies] - What is Synopsys? - Products, Services and History

What is Synopsys? - Products, Services and History