Walmart is the largest retailer of consumer staples products in the
world. It was founded by Sam Walton in 1962, who started with the idea
of a store that would offer its customers the lowest prices in the
market. Walmart was incorporated in 1969 following the success of
Walton’s ‘everyday low prices’ pricing strategy. It currently operates
in 27 countries around the world. The company drives growth by expansion
in its retail area and investments in e-commerce. Nonetheless, it has
underperformed its competitor, Costco over the last few years due to the
Costco’s better customer service record. Walmart has lost customers to
Costco over the years, primarily because it doesn’t pay its employees
well, which has led to demotivation in the workforce and poor customer
service. Read More:
WMT
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