WalmartHistory online. Customers can also upload their digital photos

WalmartHistory of the companyFounded: 1950, Sam Walton purchase a store from Luther E. Harrison in Bentonville, Arkansas. Walton open his first store and called it Walton’s 5&10. It became the headquarter of the would biggest retailer. Sam Walton made his decision to get higher sales volume by keeping his sales at a lower price than the competitors by decreasing his profit margin, motivated by the successes of discounted stores. Walton opened a second store in Harrison, Arkansas. Sam Walton assistant Bob Bogle was the person who came up with the name of Walmart for the new chain. By 1967 Walmart grew to 24 stores across Arkansas. Walmart had reach 12.6 million in sales by 1968. They open the first stores outside of Arkansas in Sikeston, Missouri and Claremore, OklahomaLocations: All North America, parts of South America, Japan, China, India, and the United Kingdom.Walmart Facts:Products and Services:Retail Goods-Walmart offer a variety of categories. Examples electronics, movies, books, jewelry, home goods, baby products, sporting goods, and grocery itemsPhoto Services-Walmart offers a photo lab inside the store as well as online. Customers can also upload their digital photos through the website and pick them up in-storePharmacy-Walmart offers monthly prescriptions for pick up in-store or by mail for long term medication. Company estimate a saving for the customers with a total of $3 billion since starting the program.Financial Services-which include credit cards, debit cards, bill payment, money transfer, check cashing and check printing. Customers can also purchase money orders and gift cards.Wireless Services-Walmart paired with T-Mobile to offer discounted services. They also provide “Walmart family talk wireless”.Volume of sales & revenue: the timeline shows Walmart net sales worldwide from 2006 to 2017. In 2017, Walmart’s global net sales amounted to about 481.32 billion U.S. dollarsScreen ClippingMarket Area/Customer Information: Walmart has a geographic zone that contains a diversity of people, for the known fact that Walmart is located indifferent part around the world and in also located in high, medium, and low class within different city and statesCustomer information:Channels of distribution used: Walmart currently operate 42 regional general merchandise distribution centers in the U.S. totaling 50.1 million square feet.Company Mission, Vision, and PhilosophyWalmart’s mission statement is “Saving people money so they can live better.” This statement is synonymous to the company’s slogan, “Save money. Live better.” The firm follows and succeeds in fulfilling the “saving people money” component of the mission statement. Consumers save money through Walmart’s low selling prices. However, it is not yet clear if the company satisfies the “live better” component of the mission statement.Walmart’s vision statement: “To be the best retailer in the hearts and minds of consumers and employees.” The company aims to achieve a top position in the retail industry. Based on its current situation, the firm has already fulfilled the “best retailer” part of the vision.When Sam Walton started his chain of stores he purposely set up shop in small-town America to help provide jobs to those individuals who had no access to employment. Wal-Mart says it gives back to the community and its customers. Wal-Mart gives to children’s hospitals, has created educational scholarships, and educates communities on environmental issues such as recycling.Walmart is known for low prices which is the main selling point of the business. The company keeps its prices low through cost reduction in operations.ProblemWalmart’s product shipping cost are causing numerous complaints from customers, and is leading to a decline in online shopping purchases and loss of customers to competitors. The reason that Walmart is having these problems is because of the multiple sites that are now available to anyone, some offering better deals than even Walmart must offer. One of the biggest competitors for online shopping is amazon.com. in February 2016 Walmart’s e-commerce sales have slowed down over the past year. Walmart’s last quarter year-over-year online sales was only 8%. While amazon.com last quarter, the company saw a 24% year-over-year increase with this management is struck in a difficult situation. Walmart’s management is aware that they must spend more in the e-commence to be able to compete with amazon.com. which is continually expanding their offering and distribution network. Another reason for losing customers, according to Walmart, 13 a total of different excuses for example: challenging weather conditions, less grocery inflation than expected, the payroll tax increase and when the time is here, a delay in income tax refund checks. The real story is that America simply don’t seem to like Walmart’s grocery options as much as they used to. Walmart dominates the low end, but middle and higher income consumers are bullying food at restaurants and higher-end retailers.