Popular Retail Strategies: Walmart

In today's modern world, shopping has become easier due to the increase in the number of malls, stores, etc. and competition amongst them. This turns out to be beneficial for the customers since they get a variety of options for shopping. Moreover, people, in general, tend to go for famous and renowned retail stores, shopping malls, etc. for shopping rather than local stores.

To explain this idea in a better way we can consider a very famous retail corporation 'Walmart'. Mostly customers tend to go to Walmart for shopping due to the affordable rates.

However, in other local stores only a limited range of items can be found e.g. Grocery items at Fresh Co., Pharmaceutical items at Shopper's Drug Mart, etc. thereby making the area of shopping narrower.

In addition to this, in such stores rates of products are generally higher or in some cases similar to the affordable range. But due to the diversity in the range of products under one roof, and not wasting time roaming around for different items, people tend to go for Walmart.

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For example, furniture, crockery, clothing, personal accessories, technology, and entertainment, etc. items are available in Walmart. Whereas, in local stores items of specific categories are found. For example, in 'No frills' only grocery related items are found, and similarly in 'Staples' only electronics can be found. Since it is a worldwide renowned brand, it attracts foreign customers towards it stealing the market from the local stores.

Walmart not only has the local brands of products but also international brands and international food items which is a significant benefit for international customers.

Moreover, the introduction of online shopping including self-pickup and home delivery services which is something different as compared to other local stores, plus it is a time-saver.

It offers great discounts and deals throughout the year in almost all the products which attracts more customers towards it. For example, deal of the hour. Whereas in local stores, deals and discounts are seen only during special occasions, events, etc.

In contrast to other stores, Walmart has worked in a very efficient manner towards the quality, organization, and presentation of the products, for example, it has broad aisles organized in such a way that it makes it easier for the customer to find a product they are looking for. Also, the prices are clearly labeled in Walmart whereas in local stores sometimes it becomes quite hard to find the prices of the products.

Furthermore, Walmart has a bunch of self-checkout counters and express checkout counters which saves a lot of time. On the contrary, in local stores there are less or no self-checkout counters.

Reference

1. Tyler, J. (Sept 12, 2018). We Went Shopping at Walmart and Target to See Which Was Better for Groceries, and There Was A Clear Winner. Business Insider. Retrieved from
2. Singh, V. (May 2, 2007). Walmart Supercenter Versus the Traditional Supermarket. Retrieved from