Walmart was established in the year 1962 by Sam Walton in Rogers, Arkansas, U.S. with a strategy to provide – The Lowest Prices Anytime, Anywhere.
Since its inception, Walmart has grown itself to be one of the largest retail chain companies of the world with unparalleled competition in terms of market share dominance.
Walmart is the number 1 company among the Fortune 500 group of companies. Walmart caters to over 200 million customers in more than 11,500 retail stores under 65 banners in 28 countries and also has its e-commerce website operating in 11 countries globally. Walmart has tie-ups with local farmers and economies so as to provide affordable goods to customers and thus strengthen its business. Walmart also has its own private label brands such as Sam’s choice, Great Value, Equate and Smart Price. Sam’s Club, a division of Walmart specifically deals with resale of merchandise in bulk quantities for families and small business owners.
Walmart employs over 2.2 million associates globally which is the highest among all the private companies in the world. It employs over 1.4 million people in US itself. Walmart constantly invests higher than any previous year on its employees so that they can have the best of the training before being a part of the company. Walmart also focuses on providing employee welfare benefits such as Health Care insurance, paid sick leaves and education benefits to its employees and their family members.
Walmart is highly sensitive for its global ethics policy. It believes in incorporating the local culture in its business and its employees so as to have a higher sustainable business in that location. Walmart has always focused on growing quickly since its inception and has become one of the largest retail companies globally.
All the major retail companies in the retail-chain sector of World were taken. Various subsectors were considered like the Supermarket, Discount Clubs, Warehouse sellers, Pharmaceuticals. Top 24 companies were shortlisted among all the mentioned sub-sectors. The final selection of top 10 industries was based on the Net Retail Revenue of the company and the Dominant operational format was also covered.