The Impact Of Wal-Mart On The Retail Industry

1510 Words 7 Pages
(Prabhjyot Sandhu) Wal-Mart, one of the world’s most successful retailing corporations is the leader in the industry to this date. This giant empire was founded by Sam Walton in 1962. Wal-Mart changed the face of the retail industry as its competitors thought the idea of a successful business built around by offering a lower price and great service would never work. Sam Walton had disproven the traditional retail corporation’s approach to the success and growth of his empire, as the company had exceeded even Mr. Sam’s expectations. The company went public in 1970 to finance the steady expansion of its stores in the U.S and internationally. The rapid growth of the company was not singularly due to the results of its low prices which attracted …show more content…
Generation Xers and Millennials will soon take over the market environment with their knowledge in adapting to new technologies. Technology is changing the market environment rapidly and some companies are adapting to the new market changes, other companies are not doing so great including Wal-Mart. Wal-Mart was founded in 1962 during baby boomers and its success has always been based on is lower pricing both at is brick-mortar store and on Walmart.ca. Wal-Mart might be the world’s largest retailer but it might lose the reputation as the world's largest if they do not take action and adapting to their new target …show more content…
This statement might have been true during baby boomers but currently, this statement doesn’t matter Generation Xers or Millennials because both customers will only purchase goods if it is a cause or if it is e-commerce. Wal-Mart’s growth profit hasn’t been doing so great ever since Generation Xers and Millennials took over the market environment. Wells & Ellsworth (2016) Wal-Mart reported that revenues for 2015 have dropped 0.7% to $482.1 billion, the first decline in Wal-Mart’s history, Wal-Mart also downgraded its sales forecast for this year. (p.36). If Wal-Mart continues to ignore their problems, their profit will continue to drop as the years goes by and they will lose their reputation because new market customers don’t care about “Save Money, Live Better”. Wal-Mart wants to stay as the world’s largest so they are making some changes. Recently, Wal-Mart changed to two-day shipping for their online buyers, they are testing the new idea of a delivery person walking into customer's home to drop off their groceries or stock customer’s fridge. Wal-Mart is also working riding services Uber for grocery delivery. In addition, Wal-Mart is impacting global warming by launching Project Gigaton, they want their suppliers to take one gigaton of carbon out of the atmosphere by 2030. (Garrett, 2017, p.4). Wal-Mart recent changes will be

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