Sam Walton’s Success
Samuel Moore Walton was born in Kingfisher Oklahoma in 1918. He opened a variety store in Arkansas. His first Wal-Mart store opened in 1962 and eventually became the largest retailer in the world. The main characteristic which led to his success was that he always made sure that the shelves were always well-stocked with a large variety of products at low prices. He also kept his store opened later than all other stores, especially in the Christmas season. He also came up with the idea of discount merchandising when he bought goods at lowest possible prices in large quantities, as a result, he offered items at lower prices and increased the volume of his sales. This increase in sales gave him the chance to further buy items at even lower prices. Higher volumes allowed him to negotiate even lower purchase prices with the wholesaler on subsequent purchases.
Sam Walton was a supporter of free market and capitalism and spent money to spread this belief in South America. In addition, Wal-Mart is criticized by Labor unions, religious, organizations, and environmentalists about the organization’s business practices and policies.
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