For several years, Wal-Mart Stores, Inc. pursued an aggressive supercenter expansion plan which contributed heavily to remarkable global sales performance. After a time, though, the plan began to bring increasing cannibalization of existing stores. The time had come to regroup.
And the retailer did just that: Wal-Mart began charting a new plan for growth. While selectively reducing domestic expansion efforts (the company continued aggressive international expansion), the retailer began placing a heavier focus on driving growth within existing operations-- more efficient inventory systems, more competitive pricing strategies, and more aggressive in-store marketing initiatives.
Throughout the recession, Walmart has maintained focus. A new merchandising strategy, ‘win, play, show,’ is enabling the retailer to focus on the most promising categories and products in order to drive scalability. And ‘fast, friendly, clean’ is aimed at creating “the ideal customer experience.”
Walmart’s mission statement, “Save Money. Live Better.,” is well-suited for consumers struggling to balance the needs of daily life with the harsh realities of a recessionary economy.
This report explores Walmart’s role in helping consumers navigate through difficult economic times and what this means for manufacturers and competing retailers.
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