Walmart is not just an international retail store, but the product of the vision and relentless efforts of Sam Walton. Known for its discounts and efficient services, Walmart was established in 1962.
Sam Walton was a simple businessman who thought from the customers’ perspective. He started off with a small departmental store in 1945 where he sold higher volumes at lower prices taking less profit. This benefited the buyer and was reasonable for the seller as well.
Other retailers of his time warned this to be a bad idea, but the discounts attracted the common man. There was a huge inflow of customers and a good rise of 45 per cent in sales in the very first year. His customers liked the shopping experience and kept coming back.
Sam’s business expanded and soon became international, opening branches in Mexico, Canada and the UK. He was committed to saving people money so that they could live better. The company went public in 1970 and today, Walmart is the second largest corporation in the world.
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