"Wal-Mart is the greatest thing that ever happened to low income Americans. They can stretch their dollars and afford things they otherwise couldn't." -
W. Michael Cox, Chief Economist, Federal Reserve Bank of Dallas,
The New York Times, December 2003.
Wal-mart is as synonymous with daily American life as Coca Cola, apple pies and baseball games. Rarely will you find an individual who has not graced the aisles of a Wal-mart store.
Wal-mart, which was first opened in 1962 by Sam Walton, is currently a force to be reckoned with, eliminating competition such as Kmart and Sears (who have now joined forced and trying to recoup some of the market share.) The company is known for its low operational costs and logistics helped much in part by its advanced technology system they put in place to accurately track inventory as it leaves the store. What is their magic formula for success? "It has to do with our desire to exceed customers expectations every hour of everyday", said Sam Walton.
English: Inside the Walmart (still branded as Wal-...
A protest in Utah against Wal-Mart
English: Statue of Sam Walton and his dog outside ...He created a company where everyone in the family can find everything they need under one roof. Dan can get the car worked on while buying household maintenance items and mom can do the grocery shopping while the kids entertain themselves in the toy section. "One-stop shopping."
A new Wal-Mart in your city is the equivalent of new job opportunities and "additional tax revenues that help fund basic services like police, fire protection and schools." (Company website). From its success in the United States, you would think that the company would have the "If you build it, they will come" attitude. In fact, it is just the opposite. Many factors are considered before the company dives into opening new sites. Obviously one major consideration is location and the...