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Video Discussion: Wal-Mart Way of Life - Coursework Example

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Wal-Mart’s retail strategy was to offer a wide variety of goods and some services at an extremely low price to people who may not have a lot of money to spend on things that are not essentials. By doing this, it not only allowed Wal-Mart to be a one stop shopping destination…
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Video Discussion: Wal-Mart Way of Life
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Download file to see previous pages Wal-Mart has been successful, because due to their high percentage of inexpensively made imported goods from countries such as China, Malaysia, and India, the cost of labor to produce these goods enabled Wal-Mart to keep their prices affordable for people in the United States, while keeping their profit margins higher. This is due to the fact that in the countries that many Wal-Mart goods are created in, what is considered to be an adequate “living wage” is often much lower than the American equivalent. A spatula made in China might cost 99 cents, the same spatula made in an American factory might cost 2 dollars. By reducing the cost of labor, Wal-Mart is able to keep prices low and profit margins high.
Many small town retailers criticize Wal-Mart for driving out local merchants in new locations when they open. This criticism is somewhat fair, because due to the fact that Wal-Mart is a large corporation, they are capable of taking advantage of bulk discounts and importing cheaply made goods in a way that many American small business owners do not find practical on a smaller scale. What the local mechanic needs to charge for what he pays for his shop, his supplies, and still make a profit, is often higher than Wal-Mart, because since their garages are part of the existing store, they already have the location paid for, and they are able to get automotive supplies as cheaply as everything else they get as well. This applies to local clothing stores, jewelry stores, grocery stores, any small local retailer. It is an open market, but it seems slightly unfair that the “big guy” is able to charge less while still making a profit simply because Wal-Mart is a large corporation. But trying to attack Wal-Mart means essentially attacking capitalism, and most people are not prepared to do that.
Wal-Mart does not use the same retail strategy for domestic and global operations. Wal-Mart has never been more successful than right now, and while the economic ...Download file to see next pagesRead More
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