Walmart: The Most Successful Retailer in History
Walmart is without question the most successful retailer in the history of the United States, and in the history of the entire world by almost any measure (number of stores, sales revenue, number of employees, market share, etc.) Here are some Walmart facts:
1. In 2010, American consumers bought almost as much merchandise at low-priced Walmart ($307.7 billion in U.S. retail sales) as they purchased from the next five largest U.S. retailers combined ($324.5 billion): Kroger ($78.3 billion), Target ($65.8 billion), Walgreen ($61.2 billion), Home Depot ($60.1 billion) and Costco ($58.9 billion).
The chart above shows how Walmart sales as a share of U.S. GDP have grown from about one-third of one percent (0.37%) in 1989 to more than 2% (estimated) in 2011. In other words, for every $45 dollars spent in the U.S. economy this year, almost $1 will be spent on a purchase at a Walmart. If we account for Walmart's total world sales, its sales as a share of GDP will approach 3% this year.
MP: There has probably been no other company or organization in the history of the world that has done a better job of serving consumers than Walmart, with its "Everyday Low Prices" and obsession with supply chain efficiency. Walmart's increasing share of U.S. GDP is a testament to its amazing success at creating more consumer surplus than any company in history.
Related: Watch this animation of Walmart's amazing expansion in the U.S. from 1962 to 2004: