Walmart is a multinational retailer that has its roots in the United States of America. It runs department stores mostly aimed at middle class and lower-middle class people. Today, Walmart is the second largest public corporation in the world according to Fortune Global 500. It employees more than 2 million employees and is one of the most valuable companies in the world. It is headquartered in Bentonville, Arkansas. In 2009, it generated 51 percent of its $258 billion sales from the U.S. grocery business.
Sam Walton, a simple businessman bought a branch of the Ben Franklin stores from the Butler Brothers in 1945. He believed in selling higher volumes at lower prices taking just a lower margin as profit. This would as well benefit the buyer and would be reasonable for the seller as well. So Walton found lower-cost suppliers and implemented his methodology in the market.
He found immediate success with 45 percent rise in sales in the first year of sales itself giving him an annual revenue of $105,000. This revenue kept increasing as the years passed by. Next year he earned $140,000, and the next year $175,000. This was a clear sign that his plans were working effectively. After the expiry of the lease of the current store he went on to a new location and called it “Walton’s Five and Dime.”