It was consistent innovation in the field of products and pricing that formed the crux of the business model developed by Walmart. Based in US, Walmart is rated amongst the biggest retail chains of the world.
Currently it has won a multinational status for itself, and is running more than 10,000 stores in 27 countries.
Walmart is a family run business, founded in 1962 as a single retail store. But it never looked back since then and instead generated a business model, which sparked the initial seeds of “Retail Revolution” across the world.
They followed the principle that greater demand leads to decrease in price. After developing a “Walmart Shopping culture” in their US stores, they successfully replicated the same culture in 20 more countries.
Their rocking success won them a listing in the US stock exchange in 1972.
This type of a listing for a retail outlet was a big achievement during that period. In other words, we can also say that Walmart took their retail operations to the levels of a macro industry.
History of retail business will remember Walmart as the pioneer concern introducing the concept of ‘Organized retail’ and a range of products that was never seen before.
Small retail outlets were playing dirty tricks on the customers by depriving them from high quality goods. They were also inflating the prices because they were enjoying the power of proximity to the consumer’s house.
Walmart bulldozed these unorganized retailers and eased out customers against the malpractices of overpricing and adulteration in the goods.
Innovation is the second name of Walmart, they believe in processing the goods to bring in that touch of quality in the products and services that they are offering inside their stores.
In the recent past, they moved on to the online business scene as well. Lab 415 C is the place where they are designing these solutions and innovations to keep them ahead of the competitions in market.
Shopping is a time consuming task if you are purchasing it from an unorganized place. In the past, Walmart had created many innovating Kiosks and other dispensers to speed up your shopping processes.
With the passage of time, they developed an internal currency by introducing many cards, and most of these cards gives you freebies and rebates based on the loyalty points and other points.
This innovation of currency also contributed a great deal in increasing the real value of the money you are spending with Walmart.
Deals and Coupons:
When we trace out all the operations of Walmart, then we find that they have designed a spending pattern for their customers. This spending pattern gives the customers an opportunity to get the best worth of every penny that they are spending inside a Walmart establishment.
When you purchase Walmart Gift Cards, you purchase the license to pick various gift items that are available on the display. Match it with your celebration diary of the month and move ahead with some amazing deals. These gift cards are available in various other denominations as well.
It means if you are into corporate gift culture, then you can always book some corporate gifts for your clients and esteemed associates in your business network. These cards acts like a passport to the daily deals available on the stores of Walmart.
Every discount coupon offered by Walmart is special because it offers you more places where you can redeem them. You become aware of this practical omnipresence of Walmart in various sections of the topography and get to know that Walmart coupons can be redeemed at all these places.
You can search out for these coupons on internet with great ease. The search mechanism of Walmart has created the amazing feature where you can search out for these coupons based on various categories. Print a coupon at your home and redeem it on the store or during an online purchase.
Global discounts of Walmart are now available on local platforms. You can search out for some local coupons and redeem them on local stores or fill you cart on an online source.
Walmart mechanism ensures an easy management of these cards. Most of the cards are available in e options and plastic options at the same time.
Both types of card enjoy great compatibility on various platforms. It means you will never get this feeling that you are trapped in your purchase.
Check out the customer reviews weaved around the services and offerings of Walmart, you will find that it is the difference between an organized set of services versus an unorganized set of services that prevails in here. Walmart created some pricing patterns that have the power to create some ripples in the market.
They became the price leader because they are the bulk buyers of the goods. Currently, most of the reviews related to the services of Walmart revolve around the smooth transitions of their regular customers.
And here they are mostly talking about a transition from regular stores to the online stores developed by Walmart.
Business fundamental of Walmart is loud and clear, it starts with bulk deals of the good, these bulk deals allow them to bring in a reduction in prices.
They have a transportation system in place which takes care of the logistics very dearly.
Walmart is essentially like a “dream come true” business model, it is very simple and requires lot of determination and perseverance to handle and execute it.
Walmart is a trendsetter; though you might have seen the advent of many online services and retail chains.
Most of these establishments have taken a few leaves from the success story of Walmart.
In fact it will not be a very farfetched statement to make, when we will say that it was the retail revolution generated by Walmart that finally gave way to online revolution.
Walmart is a classical example on how assortment of different products can bring in a price revolution, and create a new and parallel market altogether.