Walmart opened on this day in 1962.
Within three decades, it would become the largest retailer in the U.S.
Here’s more on how they did it… 🧵
Within three decades, it would become the largest retailer in the U.S.
Here’s more on how they did it… 🧵
Sam Walton grew up during the Great Depression.
It shaped his views on pricing.
Before Walmart, he built a small empire of variety stores focused on low prices.
This one is now the Walmart Museum.
It shaped his views on pricing.
Before Walmart, he built a small empire of variety stores focused on low prices.
This one is now the Walmart Museum.
With Walmart, he focused again on rural areas underserved by big retailers.
The first was in Rogers, Arkansas.
Its population was 5,700.
While the focus was on small towns, the strategy also called for big expansion.
Here’s how Walmart ballooned:
The first was in Rogers, Arkansas.
Its population was 5,700.
While the focus was on small towns, the strategy also called for big expansion.
Here’s how Walmart ballooned:
Walmart generated $975,000 in revenue during its first year.
25 years later, the store count had grown to 2,000 locations.
And Walmart was generating $975,000 in revenue every hour.
25 years later, the store count had grown to 2,000 locations.
And Walmart was generating $975,000 in revenue every hour.
And today, Walmart generates more than $975,000 every minute.
But numbers aside…
…one of Walton’s preferred measures of success was less tangible.
He visited stores to speak with customers and find out what mattered to them.
But numbers aside…
…one of Walton’s preferred measures of success was less tangible.
He visited stores to speak with customers and find out what mattered to them.
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