WALMART has thousands of stores across the world and makes billions in revenue each year. As the world's largest retailer, Walmart knows a thing or two about staying relevant in the competitive retail space. Founded in 1962, Walmart is a retail powerhouse.
The company consistently ranks among the top companies globally in terms of revenue and is known for its massive presence in the retail industry. It has 10,490 stores across 24 countries and generated a whopping $611.3 billion in revenue in 2023, making it the largest retail store in the world.
The retail space is a heavily contested field, but Walmart manages to edge out competition like Amazon , Costco , and Kroger year after year. To gain more insight into why Walmart is so relevant, The U.S.
Sun interviewed Mitchell Olsen, a marketing professor at the University of Notre Dame in South Bend, Indiana, who specializes in retail. "Walmart remains the world’s most dominant retailer, and for good reason," said Olsen. The professor highlighted how Walmart's thriving stance in the retail world can be attributed to its low prices.
He noted that 90% of American households choose Walmart as their go-to shopping destination because no other retailer offers consistently cheap prices on such a wide selection of items. The retail expert also addressed how Walmart has a leg up on its competition by attracting both new and old customers. "In the US grocery industry, Walmart is putting even more space between it and its main competitor.
