Walmart is still a family owned business which was started by Sam Walton at Roger, Arkansas in 1962. His aim and focus was to generate high volume sale at low profit by selling products at a cheap cost as compared to other store. This approach worked very well and the number of customers get increased day by day. The sales of 1st year was $105,000 next year it increased to $140,000 later that year the sale was $175,000. Within the five year after the opening of store the sale revenue was $250,000 and the business was booming. In October 31, 1969 they were incorporated as Wal-Mart Stores, Inc. The first home office and distribution center was opened in 1970 at Bentonville, Arkansas, they has 38 stores running at that time with 1,500 employees and a sale revenue of $44.2 million. By 1971 they were present in five states Louisiana, Missouri, Arkansas, Kansas and Oklahoma and other were in progress Tennessee (1973), Kentucky and Mississippi (1974), Taxes (1975) by this time the total stores were 125 with 7,500 employees and a sales revenue of $340.3 million. In 1990’s they went international by opening stores in Mexico, Canada, Argentina, Brazil, United Kingdom and many more countries.
The company is current the number 1 retailer in the U.S and have been listed as the America’s largest corporation in the famous “Fortune 500 list”. Walmart went online in 2000 with the same aim of getting the customers the best possible products from a wide range of brands at a cheap price and easily accessible at the touch of your fingertips. No need to go out and walk through whole store and stand in queue for check out just add you items to the online cart and pay through your debit or credit card and the products will be delivered to you at home.