Walmart is a huge American multinational retail store founded by Sam Walton in 1962 in Arkansas. But what’s really cool about Walmart is that it’s not just any company—it’s the world’s biggest money-making one! Every year, they make a mind-boggling $611.289 billion. That’s even more than they made last year, by about 6.73%.

The headquarters are located in Bentonville, Arkansas, where they make all the important decisions. Walmart’s story is like a real-life fairytale of American success. It started in a small place in Arkansas, and in just 60 years, it became the biggest store worldwide. Now, you can find Walmart in over 10,500 places all around the world, in 24 different countries.

About Walmart Founder – Samuel Moore Walton

Samuel Moore Walton, born on March 29, 1918, in Kingfisher, Oklahoma, embarked on a remarkable journey that shaped the retail landscape. Achieving the distinction of becoming the youngest Eagle Scout in Missouri during his eighth grade, Walton’s early life hinted at the entrepreneurial spirit that would define his legacy. After graduating from the University of Missouri in 1940 with a degree in economics, he commenced his career by joining J.C. Penney as a management trainee, later serving in the U.S. Army during World War II, where he rose to the rank of captain in the U.S. Army Intelligence Corps.

In 1945, Walton managed his first variety store in Newport, Arkansas, laying the foundation for his pioneering approach to retail. Overcoming challenges, including negotiating leases and high rents, he moved to Bentonville, Arkansas, and opened the first Walmart on May 9, 1950. Walton’s commitment to offering competitive prices, consistently stocking a wide range of goods, and emphasizing logistics fueled Walmart’s unprecedented success. His legacy extends beyond retail, encompassing philanthropy, service leadership, and navigating health struggles. Samuel Moore Walton passed away on April 5, 1992, leaving an enduring impact, with Forbes recognizing him as the richest person in the U.S. from 1982 to 1988 and a posthumous Presidential Medal of Freedom in March 1992. The Walton family continues to uphold his legacy, ranking as the richest family in the U.S. with a net worth of approximately $240.6 billion as of January 2022.

Early Stage of Walmart

In 1945, Sam Walton rented a part of a store called Ben Franklin. His plan was to sell things at low prices to get lots of customers, even if the profit was small. People really liked his store, and in the first year, he made $105,000. After five years, he earned $250,000.

But then, he couldn’t rent the store anymore, so he opened a new one in Bentonville called Walton’s Five and Dime. Now, that store is a Walmart Museum.

The first official Walmart store was opened in 1962 in Arkansas. The inspiration of Fedmart kept the name Walmart. It was the first discount store, opened in 1954. Within five years, Walmart had expanded to 18 branches in Arkansas, and sales reached $9 million. 

Walmart success story:

On 31 October 1969, the company became Wal-Mart Inc. and then changed to Wal-Mart Stores Inc. in 1970. In that same year, Walmart started selling stocks on the New York Stock Exchange, and in May 1971, they did their first stock split when each share cost $47.

By 1973, Walmart had stores in Tennessee, Mississippi, and Kentucky, and in 1974, they started moving into Texas, already having 125 stores, 7500 workers, and sales of $340.3 million.

In the 1980s, Walmart celebrated its 25th anniversary and was growing really fast. They had 1198 stores, more than 200,000 employees, and made $15.9 billion in sales each year.

In the 2020s, when COVID-19 was causing problems worldwide, Walmart introduced new benefits for its employees. Now, if workers don’t feel well or don’t want to come to work, they can stay home and not get paid. And if they get sick with COVID-19, they can still get paid for up to two weeks. Walmart is the biggest private employer in the world, with 2.2 million people working there right now.

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Walmart Achievements from 1962 to 2022:

It’s been 60 years of travel. From the start to the present, Walmart has been No. 1 in the world. Though they faced setbacks in their business, they never got fed up with it. Always keep aiming to offer low-value goods to the customers.

They never thought about gaining profits from the business; they just wanted to give everyone affordable things. The growth journey of Walmart from 1962 to 2022 is given below.

Different stores of Walmart:

Walmart Supercenters:

They include meat and poultry, baked goods, frozen foods, dairy products, garden produce, and fresh seafood.

Many Walmart Supercenters also have a garden center, pet shop, pharmacy, Tire & Lube Express, optical center, a one-hour photo processing lab, portrait studio, and numerous alcove shops, such as cellular phone stores, hair and nail salons, video rental stores, local bank branches, and fast-food outlets.

In some supermarkets, they have a gasoline supply too. Many food courts, like McDonald’s, Burger King, Subway, Palm Desserts, etc., opened in their stores. In one place, people can get everything. Nearly 12 million products are available here. 

Walmart Discount Store:

It includes general merchandise and needed groceries. Some stores have a garden center, pharmacy, Tire & Lube Express, optical center, one-hour photo processing lab, portrait studio, bank branch, cell phone store, fast food outlets, and gasoline stations.

Walmart Neighborhood store:

The stores focus on three significant sales categories: groceries, which account for about 55 percent of the company’s revenue, pharmacy, and, at some stores, fuel.

For groceries and consumable products, the stores sell fresh fruits and vegetables, bakery items, prepared foods, meat, dairy, organic, general grocery, frozen foods, cleaning products, and pet supplies.

Some stores offer wine and beer sales and drive-through pharmacies.

Sam’s Club:

They sell general groceries and other products. Here you can order in bulk orders. 

Walmart’s success strategy:

Some key factors that contributed to Walmart’s success are as follows:

1. Emphasis on low prices:

Walmart is known for its “everyday low prices” strategy, which keeps prices consistently low across all products. This strategy has helped Walmart appeal to a wide range of customers, from budget-conscious shoppers to those who value convenience.

2. Large-scale operations:

Walmart operates more than 11,000 stores in 27 countries, making it one of the largest retailers in the world. Its massive scale allows the company to negotiate lower prices with suppliers and spread fixed costs across many stores.

3. Innovation and technology:

Walmart has been a leader in implementing new technologies to improve its operations and customer experience. For example, the company has invested heavily in e-commerce and has developed a range of innovative technologies, such as its automated pickup towers and its use of robots to clean floors and track inventory.

4. Focus on employee satisfaction:

Walmart has a reputation for being a tough employer, but the company has made efforts to improve working conditions and employee satisfaction in recent years. In 2019, Walmart announced raising its starting wage to $11 per hour and offering additional employee benefits.

5. Strong corporate culture:

Walmart’s strong corporate culture emphasizes efficiency, frugality, and customer service. The company’s founder, Sam Walton, was known for his hands-on leadership style and commitment to serving customers. This culture has been passed down to subsequent generations of Walmart leaders and is a key driver of the company’s success.

Overall, Walmart’s success can be attributed to a combination of factors, including its low-price strategy, large-scale operations, focus on innovation and technology, emphasis on employee satisfaction, and strong corporate culture.

Motivation from Walmart’s success story:

Walmart’s success story is a great source of motivation as it demonstrates the power of hard work, innovation, and customer-centricity. Here are some key takeaways that can inspire individuals and businesses:

Customer Focus:

Walmart’s focus on delivering the best possible shopping experience for its customers helped it become one of the largest retailers in the world. By constantly listening to and understanding their customers’ needs, Walmart was able to provide affordable, high-quality products and services that people love.

Innovation:

Walmart’s supply chain management, logistics, and technology innovation has been instrumental in its success. By investing in new technologies and systems, Walmart was able to improve efficiency, reduce costs, and enhance the overall shopping experience for its customers.

Hard Work:

Walmart’s founder, Sam Walton, had a strong work ethic and believed in leading by example. He encouraged his employees to work hard, innovate, and continuously improve. This culture of hard work and dedication has been a key driver of Walmart’s success.

Adaptability:

Walmart has been able to adapt to changing market trends and consumer preferences. By constantly evolving its business model and offerings, Walmart has remained relevant and competitive in a rapidly changing retail landscape.

Overall, Walmart’s success story is a testament to the power of hard work, customer focus, innovation, and adaptability. It shows that with the right mindset and approach, anyone can succeed and positively impact the world.

FAQs about Walmart