Walmart has taken over nearly every shopping aspect of people’s lives to the point it’s become a verb. Various groups, pages and blogs exist all over the internet to show how to save money, laugh at some of the outfits people occasionally wear or learn to get the most from your Walmart shopping experience.
Why Is Walmart So Successful?
Statista’s Research Department estimates Walmart has 10,593 retail stores around the globe and about 364 distribution centers. They bring in billions of dollars a year in revenue and employ around 2.3 million people globally.
There are many reasons for Walmart’s success, including bulk buying power that translates into lower prices. However, they also understand what their core audience wants and provide it. Here are some of the things they do you can implement in your own business.
1. Choose the Right Location
Walmart brick-and-mortar stores tend to be located in busy shopping areas where there are plenty of other trendy brands. It’s common to see names such as Starbucks, Target and popular restaurants like Outback surrounding them. Your location can make or break how many people walk through your doors.
2. Create Immersive Displays
Something new Walmart is trying are immersive displays to really pull customers in and give displays the human touch. You might see a small nursery setup with all the elements needed to welcome a new baby. They’ve added QR codes so shoppers can get every item in the setup from the online store. You can repeat their idea with your own displays and QR codes or a card listing what they need to buy to recreate the look.
3. Watch the Attitude
Sam Walton, the founder of Walmart, felt that the attitudes of employees dictated how well the stores took care of customers. Some might argue that Walmart has left behind some of its founding principles, but most managers still wish to create an experience where customers walk away happy.
One way to ensure your employees have a helpful attitude is to offer plenty of training. Send them for fresh customer service seminars and reward those who go above and beyond for your customers.
4. Offer Discounts
One thing you’ve probably noticed about Walmart is that they offer falling prices, clearance items and other discounts such as free shipping or store pickup. Look at the discounts your customers are most likely to want and give them what you can afford to.
People online often shop for the best deal , so if your business is e-commerce, study Walmart’s model carefully. Many people no longer wish to visit a store since the COVID-19 pandemic, so offer alternatives where they don’t have to or you may lose them to a brand that will.
Add Little Details
Think about the little touches at Walmart, such as the big signs indicating sales or the yellow stickers to draw attention. How can you tap into the use of color and signage to draw attention where you want it to go? Walmart stores are also brightly lit with tall ceilings. How can you repeat this look in your own brick-and-mortar store, even if just by using mirrors and lighting to improve the space?
With a little effort, your business can understand customers and what they want most. You can also implement some of the things that work best for Walmart and see how they translate to your audience.
