In 1945, a former J.C. Penney employee named Sam Walton purchased a “Five and Dime” store branch with an innovative idea for transformation. Walton aimed to revolutionize shopping for consumers and believed he could make a decent profit by doing so. He envisioned a store that offered a wide variety of items at the lowest possible prices while still maintaining profitability, hoping to maximize sales. Despite facing a few challenges, his business model proved successful. On July 12, 1962, he opened his own store concept, Wal-Mart Discount City, which would later become the first official Walmart.

According to 2022 statistics, Walmart is now the largest and most recognizable retail chain in the world, with over 11,000 stores in more than 24 countries. The brand has undergone several rebranding efforts, including a significant change in 2007 aimed at attracting a more affluent market while maintaining a focus on profitability through savings for consumers. It has been found that Walmart’s pricing saves consumers an average of $957 per person per year, or $2,500 per household. Sam Walton’s dream of transforming the local “Five and Dime” has proven to be an extremely successful business venture.

Fun Facts about Walmart: 

• The first Walmart store opened in Rogers, Arkansas, the hometown of Sam Walton. 
• Walmart is a major employer with over 2 million associates worldwide, with more than 1.5 million of these based in the United States. 
• Walmart has begun utilizing robotics in its stores for price error detection and cleaning. 
• Walmart has recently set ambitious sustainability goals, including a “zero waste to landfill” objective and a reduction in greenhouse gas emissions. 
• Walmart is the world’s largest private employer.