Introduction
Walmart appeals to a special type of customer: one who is looking to shop for bargains in a retail outlet center where virtually everything can be purchased—from groceries to fuel to oil changes. Walmart is a store where all products are stocked and ready to be sold for bottom dollar so that consumers can save money. This paper will examine this company’s typical consumer and assess how the business can obtain more data on the consumer in order to develop a strategy for increasing its business revenue.
Who are Walmart’s Consumers?
A graph of the breakdown of Walmart’s business says a lot about who its customers are. The chart below shows that most customers in Walmart are there to shop for groceries and consumables. Fuel and other categories make up the next biggest segment. Entertainment, apparel, home, and health products make up the other portion of products that customers at Walmart are buying. In other words, customers shopping at the retail giant and shopping for their everyday basic needs: but they are also looking for deals and cut rate prices that can help them to save money.
With total household income stagnating over the past 10 years (since the Great Recession of 2007), customers are looking for the things they need at the lowest possible prices—and that is the target customer that Walmart has in mind when the company goes to stock its shelves.
Source: FRED (2018)
In terms of rank order and segment, consumers who are doing their everyday grocery shopping and consumable items purchasing are the number one target for Walmart. These customers are also looking for deals that they can use to save money: “Wal-Mart reaches out to the lower, middle class and the poor in the society who strive to meet their daily needs. This category of the market is the largest in the US and many other countries where it operates. This policy has made it a very popular name in the US. It also confirms why the company has a retail outlet in every city in the country” (Ferrell & Hartline, 2008).
Key Customer Data
Key customer data used by Walmart includes...
References
Chen, M. F., & Tung, P. J. (2014). Developing an extended theory of planned behavior model to predict consumers’ intention to visit green hotels. International journal of hospitality management, 36, 221-230.
Ferrell, O. C., & Hartline, M. D. (2008). Marketing strategy. Mason, OH: Thomson South Western.
FRED. (2018). Household income. https://fred.stlouisfed.org/series/MEFAINUSA672N McAfee, A., Brynjolfsson, E., Davenport, T. H., Patil, D. J., & Barton, D. (2012). Big data: the management revolution. Harvard Business Review, 90(10), 60-68.
Swan, M. (2013). The quantified self: Fundamental disruption in big data science and biological discovery. Big Data, 1(2), 85-99.
Wambler, S. (2015). Relational Databases. Retrieved from http://www.agiledata.org/essays/relationalDatabases.html
Walmart is the world's largest retailer. The company has operations in many countries around the world, but its biggest market remains the United States. For the 2015 fiscal year, Walmart had revenues of $485 billion and a net income of $16.3 billion, both of which represented an improvement over the year previous. The company's revenues have increased steadily over the past five years, but profits peaked in FY2013 (MSN Moneycentral,
Walmart's Comprehensive Management Plan: Walmart is a public multinational corporation based in America that deals with chains of large discount department and warehouse stores. Based on the ratings by Forbes Global 2000 list, Walmart is considered as the 18th largest public corporation across the globe and the largest when rated by revenue. In addition to being the largest company in the world, Walmart is the biggest private employer across the globe
Walmart Income Statement Analysis of Wal-Mart Income Statement 2009-2011 Broad Overview Wal-Mart operates retail stores classified into the three categories of Walmart U.S., Walmart International, and Sam's Club. International sales account for 26% of net sales, while Sam's Club is just 11.8% (Walmart, 2012, p. 17). An initial perusal of Wal-Mart's income statement evidences the staggering scale of its retailing operations. In 2011, revenues from both retail receipts and club memberships rose 4.3%,
Walmart's System Of Inquiry A system of inquiry is used to evaluate decision-making, ethical conduct, and problem solving in a business setting (Systems of Inquiry and business ethics). Essentially, the system of inquiry is a structure of questions which the managers of Walmart (in this instance) can use in order to assess that the employees are following Walmart's ethical guidelines. The questions would include an assessment of the employees and their interactions;
Walmart The decision about whether or not to invest in a company must take a number of different variables into consideration. Wal-Mart is the world's largest retailer. It has sales of $446 billion last year and on that it earned $15.699 billion in profit (MSN Moneycentral, 2012). The company has major operations in the U.S., Canada, China, Mexico and also has some operations in Europe. Wal-Mart is not only the number
Walmart Role of ethics and compliance Compliance and SEC Regulations Evaluation of financial performance Trend of ratios and financial health Wal-Mart Stores, Inc. (WMT) is an American publicly traded retail stores corporation. The operations of Wal-Mart are divided into three segments, namely the Wal-Mart International segment, Wal-Mart U.S., and the Sam's Club segment. Sam Walton was the founder of the company whereby Wal-Mart is the world's largest retail stores chain. Based in Bentonville, Arkansas, the
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now