10 things you did not know about Walmart
There are so many unknown things about the largest retail brand we know. The brand is literally changing the concept of retail since the very beginning.BY Madhushree Chowdhary | May 14, 2018 | comments ( 0 ) |
Walmart is a very big corporate giant. In terms of revenue, it is the largest in the world. In terms of employment, it is the biggest private employer in the world. In terms of grocery, it is also the world’s largest. The feathers in its cap get added every now and then. The achievement of this brand is humongous and probably no other brand can match its success story. There are so many things that the commoners do not know about this corporate giant.
Here is the list of 10 things you do not know about the world’s largest and most popular brand.
- First taste of success
The founder of this brand, Sam Walton acquired a local chain brand named Ben Franklin in the year 1945. It was located in the city of Newport, Arkansas. He eventually found more feasible suppliers of the products present in his store. The customers availed these products at a lower price and he was able to cut through the competition. A 45% hike in the sales was recorded the first year. He generated a whopping sum of $225,000 in 1958. By the end of 1962, he added 15 stores in three different states to the brand.
- Logistics emphasis
Walton was a visionary and took a brilliant step to keep all the stores close to the regional warehouses. He always kept the stores just a day distant from the warehouse so that the products can be shipped and received right on time to fill the gap between the demand and supply. The company also owned the freight service.
- Different countries, different names
Walmart relies on the acquisition. This is why the store names are not changed in the countries. If you are shopping in the United Kingdom, you will find Asda. It is brand acquired by Walmart. If you are in India, you will find Best Price. If you are in Japan then you will find Seiyu. The brand is present all over the world with different names known to the locals.
- Wealthiest family
The Walton family is the wealthiest in the world. As per the recent Forbes report, the family is worth $152 Billion. The second in the list, Koch Brothers, is not even close. Walton family is almost double the second name in the list. Needless to say, the business made multiple fortunes and now beats everyone on the list.
- One of the biggest solar connoisseurs
Walmart is one of the biggest solar energy users in the entire world. Till date, it has installed 260 projects on the vast rooftops of the stores and claimed to save over $5 Million on energy bills. The brand is a huge encouragement for the other corporate. It has planned for 400 new solar projects to be installed within four years. It has consumed 30% less non-renewable energy by installing such facilities.
- The ‘Scan & Go’ failure
The first of its kind, ‘Scan & Go’ project was supposed to launch in this brand stores. The customers just had to scan the items with their smart phones, pack them and leave. This self-checkout technique would have revolutionized the world only if the customers in 200 stores were able to figure out the concept.
- Picking 77% stake of Flipkart
The US brand has reportedly bought 77% st5ake of Flipkart, the Indian e-commerce giant for a whopping sum of $16 Billion. This is the biggest bet the brand has played to acquire the Indian market. It is set to transform the e-commerce market in India.
- Go bananas
As per the report from Business Insider, the best selling product in the Walmart stores is bananas. It is an easy and healthy food. People love to shop bananas in the retail giant’s store. The amount sums up to 32 pounds per second every day.
- Hurricane Katrina Relief
The retail brand reportedly donated $20 Million and over 1500 trucks of free merchandise to the victims of Hurricane Katrina. It also promised jobs to the displaced workers from New Orleans.
- Organic milk and cotton
Walmart is the biggest brand to sell organic cotton and milk to the customers.
There are so many unknown things about the largest retail brand we know. On compilation, it will create a big book. The brand is literally changing the concept of retail since the very beginning.
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