<p>Everyone knows Walmart, the famous US retailer, but few know its unbelievable history and steady growth. Walmart appeared in the ’60 and now operates a wide range of stores, including supermarkets, hypermarkets, neighborhood markets, department stores, grocery stores, and discount shops. Below, you’ll find Walmart’s&nbsp;<span style="color: rgb(5, 85, 112); background-color: transparent;">business model explained</span>&nbsp;in detail.</p><p>This will give you further insight into how this business developed and became successful nationwide. If we consider annual revenue, Walmart would be the world’s largest business.&nbsp;Keep reading for the full Walmart business model explained.</p><h2>Key Takeaways</h2><ul><li>Walmart was launched in the ’60, and it quickly became one of the largest chain stores in the US;</li><li>By 2022, the company became the most successful business in the world, with annual revenues of approximately $570 billion;</li><li>Walmart is the world’s second-largest employer in the private sector, with around 2.2 million employees. Amazon occupies the first place;</li><li>The company’s business model focuses on four important market segments: within the US, the international market, Sam’s Club, and the brand’s mobile app.</li></ul><h2>Walmart’s Business History</h2><p>Let’s see how Walmart went from one store to a vast network of brick-and-mortar and&nbsp;<a href="https://businesschronicler.com/competitors/etsy-competitors-analysis/" rel="noopener noreferrer" target="_blank" style="color: rgb(5, 85, 112); background-color: transparent;">online shops</a>.</p><h3>The Beginnings</h3><p>The first&nbsp;<span style="color: rgb(5, 85, 112); background-color: transparent;">Walmart</span>&nbsp;store opened in 1962 in Rogers, Arkansas. The founder, Sam Walton, had a clear marketing strategy: provide the lowest prices on the market, anywhere, anytime. By 1967, Walmart had become a store chain with 24 physical locations. As a result, sales were rising, reaching nearly $13 million.</p><p>....</p>

Walmart Business Model Explained: The Tactics That Led to Its Success

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