Essay about History And Background Of Walmart

968 Words Oct 30th, 2016 4 Pages
History/Background

Walmart began as the vision of Samuel Moore Walton during the 1950’s in Bentonville, Arkansas. Walton founded his company on the concept of the five-and-dime store blended with customer service, large stores located in small towns, valued products, low prices, and employee profit-sharing to create the largest retail empire in the world in terms of earnings and employees. By marketing to consumers who fit his business profile, Walton was successful in creating a niche that transformed how people acquired the products and services they needed. Walton’s business model appealed to consumers who desired to live better and to save money. Mr. Walton’s company incorporated in 1969 and began selling stock in 1970. By 1972, the company expanded to 51 stores and was listed on the New York Stock Exchange. The 1980’s marked the beginnings of the Walmart Foundation, the Sam’s Club, and the Supercenter. Within a ten-year period, annual sales grew from $78 million dollars to $1 billion dollars. The 1990’s was a period during which Walmart claimed the top spot among retail establishments. The company expanded into global markets. In the current decade, Walmart became a top Fortune 500 company reaching more customers through online marketing. In 2009, annual sales first reached more than $300 billion dollars. The company made enormous contributions that benefitted the welfare of the community on a global scale. A few of its commitments include: hurricane…

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