On July 2, 1962, Sam Walton opened one of the most successful businesses established around the world known as Walmart (Riffel, 2015). Throughout the years, Walmart has become one of the largest shopping centres across the globe; however, as the company continues to expand, it increasingly impacts the local economy that Walmart is situated in. Walmart has had many positive attributes to the economy. Walmart has acted as a ‘superstore,’ has brought jobs to the area, and has gone Eco-friendly.
Walmart was not very well known or as successful as they are today when it first opened in 1962. Like every bestselling business, it takes time to find customers and suppliers. Now, 53 years later, Walmart is known as one of the largest ‘superstores’…show more content… Walmart is capable of doing this because everything Walmart purchases, whether it be from groceries to clothes to everyday essentials, is all purchased in bulk. According to studies, Walmart can sell about three months worth of what Home Depot can sell in a year. In 2002 for example, Walmart sold $244.5 billion worth of supplies (Fishman, 2003). This all makes sense considering Walmart does have everything a person could need in one place. Walmart also has a high demand for products which is what makes prices so low. An explanation behind Sam Walton’ s reasoning for the beginning of Walmart is explained in an article called “The Walmart You Don’t Know”, by Charles Fishman. He discusses the whole reasoning behind Walmart using a ‘statement’ item. The ‘statement’ item that was used for reasoning was a jar…show more content… A lot of work goes into an everyday, day at Walmart. For instance, there is the ‘out of store help,’ truck drivers, there is the ‘in store help,’ stocking and customer service, and finally, there is the ‘behind the scenes help,’ suppliers. Overall, Walmart has approximately 2 million employers working for them worldwide (Stankeviciute, 2012). Working for Walmart does not only have a benefit for the business itself, it has a major affect on suppliers that supply the products for Walmart. An example of one of Walmart’s suppliers would be Dial Corp. Dial Corp deals with 28% of Walmart’s business, and if Dial Corps lost that business with Walmart, Dial Corps would have to start selling twice as much as a company alone (Fishman, 2003). This shows that without Walmart, suppliers would have no one to supply to that is as successful as Walmart. Another reason would be that if Walmart went out of business or if a supplier lost an account with Walmart, then that company would be losing more money than they were making. This would also cause the loss of jobs because companies would not be able to afford to pay for their employers to work. Along side with Walmart working with food, clothing, etc suppliers, Walmart is also trying to work with other business people and companies to go
