This implies that the company has got to record greater revenues than any other corporation in the US. The company has grown from a regional chain based in Arkansas to expand into Oklahoma, Missouri, and finally the nation-conquering phenomenon that it is today. Founded in 1945 by Sam Walton, the company has proceeded to expand its brand beyond the US borders into countries such as Mexico, UK, Germany, Brazil, Japan, Korea, China, and Canada (Boarnet et al 435). The company’s growth got based around the marketing principles of customer satisfaction and low pricing that Sam Walton practiced and insisted on when starting the retail store.
The company’s growth can get traced to its pioneering and innovative business model that is characterized by aggressive cost-cutting and a sophisticated supply chain management. Presently, the company has a reported 8,500 stores across the globe and it gets approximated that over 200million customers get to visit the stores weekly (Mattera). In the US alone, the company receives over 100 million customers weekly. Compared to America’s second largest retailer Costco, Walmart averages 5 times its sales. The company is currently the largest private employer in the US with over 1.4 million people working for the corporation in the US as of 2013.
This makes the corporation the second largest overall employer in the US, only falling behind to the federal government. The company continues to make mammoth sales with over $466.1 billion of products sold as at 2013 (UFCW). The influence of Walmart around the US is legendary in a manner represented by the location of the company’s stores across the country. It is estimated that 96% of Americans live within a 20 mile radius of a Walmart store (UFCW).
The company changed its advertising slogan from ‘always low prices, Always’ to ‘save money, live better’ in 2007. Economic effects of Walmart Walmart sells a wide variety of products compared to other competing retail outlets. The company also hires a large workforce. It also generates substantial sales tax revenue and property tax to local communities. However, the company is no stranger to hostile sentiments, and its plans to build new stores in particular communities are synonymous with considerable protests.
Much of the protests on the continued expansion of Walmart are often pinpointed to the perceived disjointing effects that Walmart has on other local stores (Jacques et al 531). The economic impact of Walmart can become analyzed from a multitude of points.
Marlon G Boarnet, Randall Crane, Daniel G Chatman, Michael Manville. "Emerging Plannng challenges in retail." Journal of the American planning association (2005): 433-449.
Mattera, Philip. "Shifting the Burden for Vital Public Services: Walmart’s Tax Avoidance Schemes." Good Jobs First (2011): 1-14.
—. Wal-Mart Stores. 1 December 2013. 18 April 2014 <http://www.corp-research.org/wal-mart>.
PETER JACQUES, REBECCA THOMAS, DANIEL FOSTER, JENNIFER MCCANN, MATTHEW TUNNO. "Wal-Mart or World-Mart? A Teaching Case Study." Review of Radical Political Economics (2003): 513-533.
Richard K. Vedder, Ken Jacobs. Is Walmart Good or Bad for America? A Debate . 8 March 2007. 18 April 2014 <http://www.independent.org/events/transcript.asp?id=125>.
Scott, Robert E. The Wal-Mart effect. 25 June 2007. 18 April 2014 <http://www.epi.org/publication/ib235/>.
West, David L. "Wal-Mart and Health Care Condition: Critical." Center for a Changing Workforce (2006): 1-18.
Workers, United Food & Commercial. Shameless: How Wal-Mart Bullies Its Way Into Communities Across America. 18 April 2014. 18 April 2014 <http://makingchangeatwalmart.org/factsheet/walmart-watch-fact-sheets/shameless-how-wal-mart-bullies-its-way-into-communities-across-america/>.