Walmart 's Vision Statement : Walmart Essay
Wal-Mart Stores, Inc. is an American multinational retail giant that was founded in 1962 by Samuel Walton. Walmart’s vision statement: “To be the best retailer in the hearts and minds of consumers and employees.” Walmart is headquartered at Bentonville, Arkansas, USA and is the largest private employer and biggest grocery retailer in the USA. It does business in almost 11,530 locations all over the world dealing in various variety of products and services. Walmart operates internationally under 63 different names in 28 countries, including Walmex in Mexico, Asda in the UK, Seiyu in Japan, and Best Price in India. It also operates e-commerce websites in 11 countries.
Walmart is also the world’s largest company in terms of revenue, $482.1 billion in the fiscal 2016. If Walmart were a country, it would be the 26th largest economy in the world. The global retail sales are expected to grow by 3.5% in 2016 according to an analytics firm, Statista. In the same duration, revenue of Walmart is expected to grow by roughly 1%. Analysts believe that the guidance given for the next fiscal by Walmart is also relatively flat. The investments made by the company in digital and technology are expected to earn profits in 2018 and 2019.
POTENTIAL IMPACT ON MARKETING STRATEGIES:
The quest for low prices came naturally to Mr. Samuel Walton, the founder of Walmart. He wanted to pass on the savings of the retailer to the customers and earn profits through…