Rome was not constructed in a day,” and neither was Wal-Mart. The remarkable success story of the world’s largest retail business began in 1950 when Sam Walton opened his Walton’s 5&10 in Bentonville town square, Arkansas. Little did he know that he planted the seeds for what would become the leading global retailer, saving money for millions of people. He decided to increase sales if he cut his profit margin and passed the savings onto his customers. Today this firm leads with $559 Billion in sales. Here are ten facts about Wal-Mart that will stun you! Hey!, before you scroll down here’s an article to help you create the best fake Walmart receipt generator. Sounds cool. Right?
- 1 It Was Built by a Sales Trainee Who Got Fired.
- 2 It Has a Huge Workforce.
- 3 They Employ Robots.
- 4 They Have Their Museum.
- 5 They Own Several Stores That You Might Be a Customer Of.
- 6 From Marriage To Birth.
- 7 They Have a Style Revolution Taking Place.
- 8 They Can Crush Local Businesses.
- 9 They Entered The Video Streaming Market for a Brief Time.
- 10 Their Founder Never Believed in Charity.
- 11 They Once Cut the Largest Private Satellite Network
- 12 They Treat Their Employees Extremely Well.
It Was Built by a Sales Trainee Who Got Fired.
Wal-Mart, the company with a global dominance, was founded by Sam Walton. He was initially working in a J.C. Penney store in Iowa as a Sales trainee, but he got fired because, according to his boss, “he was not cut out for retail work.” Soon enough, he opened up a store that offered discounts and eventually turned it into a chain, thereby proving his boss wrong.
It Has a Huge Workforce.
Wal-Mart has reported having an unmatchable workforce, stating that it employs about 2.3 million associates. It is believed that if all its employees were to gather in the same place at once, it would be the same size as Houston in Texas.
They Employ Robots.
This leading company has outmaneuvered the others by using Robots to perform tasks like keeping a check on shelf stock, washing the floors, and even scanning for price errors. According to CNN, this allows its associates to focus more on meeting the customers’ needs.
They Have Their Museum.
The Walmart Museum is based in Bentonville, Arizona, shares the exact location as Sam Walton’s first-ever store under the name of ‘Walton’s 5 & 10, which opened back in 1950. The building still has its original ceiling and floor tiles and has a range of exhibits related to the firm’s history on display.
They Own Several Stores That You Might Be a Customer Of.
You could be a potential Walmart customer and have absolutely no idea about it. This substantial retail corporation owns other retail stores like Jetblack, Bonobos, Vudu, Jet.Com, Moosejaw, and ShoeBuy. Most of which was done to approach the affluent younger generation of consumers.
From Marriage To Birth.
According to M Live, some co-workers met at the store, who later got hitched because everybody they knew worked at Walmart! Another was that of an employee named Rosaline Madrid who gave birth at the store.
They Have a Style Revolution Taking Place.
Walmart has in recent times revealed that their employees got a new style of clothing. They now wear an all-new steel gray vest with a brighter logo in their old signature bright-blue vests. Since the company went “Go Green,” their new vests are a product of recycled plastic bottles.
They Can Crush Local Businesses.
Walmart single handedly overtakes ‘Mom and Pop’ Stores which are these tiny local businesses that run at every corner. They can undercut most local retailers on price, which can completely crush small stores. A study suggested that small towns were bound to lose half of their trade, and their sales rapidly decreased after a new Walmart came up in that location.
They Entered The Video Streaming Market for a Brief Time.
Their first attempt to enter the streaming market was with their Walmart Video Downloads service. Unfortunately, it failed within a few months. But, they eventually purchased Vudu in 2010, and with this new venture, Walmart revived the streaming market. Vudu offers a unique pay-per-view model in place of a subscription model. This is beneficial for those who are not regular streamers, setting it apart from Hulu and Netflix.
Their Founder Never Believed in Charity.
Walton believed that the way the company already passes savings to its customers through its unique retail strategies. Even after his death, the first significant donation of $20 million was made towards Katrina relief. The company has since then made enormous donations for various causes around the world.
They Once Cut the Largest Private Satellite Network
Walmart had set up the most extensive private satellite network by 1987, worth $24 million, and maintained a connection between each Walmart store to its Bentonville headquarters. This was a success because the satellite boasted two-way voice and data transmission and personalized messages sent to their stores with one-way video communication.
They Treat Their Employees Extremely Well.
The firm keeps its employees happy by cutting them a profit in exchange for their services. They boast them with a lot of incentives to stay on. Apart from cash, they even provide them profit-sharing and merchandise discounts. This amounts to around $2 billion.
Walmart Black Friday.
In 2015, a Walmart chain stocked up on millions of pajamas to anticipate their high demand when an employee admitted this household item was the bestselling. In 2011, a woman got frustrated by waiting to pick up Xbox 360s and assaulted people with pepper spray. What’s more disturbing is that she even had two children with her at the time.
They Worked Closely With Michelle Obama in 2011.
As part of their collaboration with Obama, Walmart promised to reduce the prices of whole-grain food. They also encouraged their suppliers to take on healthier choices when it came to food. Moreover, the company has a personalized seal that signifies genuinely healthy foods.
Walton Had to Perform a Public Hula Dance.
In 1984, the founder had placed a bet with David Glass, who said that Walmart could profit by 8% pre tax, but Walton disagreed. Instead, he said that if he lost, he would perform a hula dance on Wall Street. They hit the benchmark, which resulted in Glass hiring professional hula dancers for Walton to perform with on air.