How Walmart Started
Sam Walton was the one who started this retailing corporation. When he retired from the military, he had acquired a bit of retailing experience and decided to open his own store for grocery purposes. The first store for Walmart was opened in 1962 in Rogers, Arkansas. The main idea behind this store was to provide quality goods with the lowest prices so that anyone can afford them quite easily. While many opposed the idea, Sam was confident about his abilities and went forth with it anyway. His hard work brought him benefit and his store earned more profit than he imagined. Slowly and gradually his stores grew as well as Sam’s aspirations among them. He gave equal credit to all his associates and employers reminding them of the fact that it’s their hard work and credibility which is bringing the customer back to this store. Prices can be lowered by any company but offering help and keeping a good attitude is what makes a relationship strong. And at Walmart the store and its workers were in direct relation with each other and their customers. The store was first named as Waltons but then later on with its expansion, an assistant of Sam advised to make it Walmart. Sam worked hard with his store and this hard work bore fruitful for him in every sense. In 1992, he was awarded with the Presidential Medal of Freedom by George H.W Bush. Walmart grew rapidly bringing profits in millions and also slowly it starting to form in every state of America. Eventually it grew internationally too, making it the biggest chain of retailing stores. The following timeline will give you an idea of its growth.
The growth of Walmart
1962: Walmart was first introduced in Rogers, Arkansas as WALTONS.
1967: 24 stores were established in different parts of America with a profit of 12.7 million dollars in sales.
1969: Company was officially called as WALMART.
In the 70s Walmart started growing nationally bringing even more profits.
1970: In this year, Walmart became a publicly traded company.
1971: The first distribution mark and home office was introduced in Bentonville, Ark.
1972: Walmart’s number increased to 51 and was listed on the New York stock exchange.
1973: The Walmart Cheer was introduced due to the result of inspiration from Korea Manufacturing Facility.
1979: The Walmart Foundation was finally established.
In the 1980s the number of stores increased up to 276 and their annual sales reached up to 1 billion
1983: The cash registers were replaced by fully functional computers for faster work and Sam’s club was opened in Midwest city Okla.
1987-88: The largest satellite communication was installed in the store. The store became a supermarket i.e. now people don't need to go to different stores for their stuff, they can simply pick everything from Walmart. The CEO at this time was David Glass.
During the 1990s the Walmart stores went global. They opened the first supermarket in Mexico with the collaboration ‘Cifra’. Walmart received their Medal for freedom and shortly after Sam Walton died leaving the company in the hands of Robb Walton, his son. In the same era, Walmart was established all the way in Canada and then later on in China. The company at this time had reached up to 100 billion dollars in sale and finally at the end of the 1990s, Walmart stepped foot in the United Kingdom with the collaboration of ASDA.
In 2000s era, Walmart expanded their services in Japan, South Africa and India. It also created its online stores and enabled their stores to include everything from pharmacy to electronic appliances etc. Many CEOs were introduced however, in 2015, Greg Penner succeeded Rob Walton and became the chairman of Walmart.
This history lesson of Walmart is sponsored by Walmart Coupon Code.