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Wal-Mart: Wal-Mart Effect
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Charles Fishman, author of The Wal-Mart Effect, talks about how Wal-Mart became the largest company in world history. He claims that the retail giant has such power that it affects everyone's daily lives, whether they shop at or do business with Wal-Mart.
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Wal-Mart had not universally implemented what they evaluated as an effective deterrent against crime: golf-cart patrols. From 1994 to 2000, Wal-Mart had only increased the percentage of stores being patrolled from 11 to 17 percent.
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Do you shop at Wal-Mart, or avoid it like the plague? THE WAL-MART EFFECT may change your shopping habits, and it most certainly will affect your perception of economics and business practice today. Charles Fishman takes a hard look at supply, demand, and pricing, as well as business practice as developed by Sam Walton, and now his children. Alan Sklar brings his narrating experience in reading nonfiction to bear on this "tell all" book. Sklar approaches each revelation with fresh enthusiasm, even when Fishman's text is repetitive. Delving into Wal-Mart's secrets will change your perception of marketing and business forever.
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Putting aside this myth, Figure 4 shows the catastrophe caused by the Wal-Mart effect in Iowa, inclusive of towns that did and did not have a Wal-Mart store. The period under consideration is 1983-96, three years longer than the earlier study, giving three more years of the devastation. By 1996, 13 years after a Wal-Mart had opened in a town, the volume of sales at department stores, which includes Wal-Mart and other large discount chains, rose by 42%. However, since 1983, sales at grocery stores fell by 11%; sales at drug stores fell by 32%; and sales at men's and boys' stores dropped headlong by 59%. Iowa's retail and grocery stores, which form the underpinning of communities, had been ravaged.
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Several experts applauded the new goals, saying they would have an effect beyond Wal-Mart, given the chain's influence over companies that supply Wal-Mart and other retailers. "When Wal-Mart asks, suppliers jump," said Noah Horowitz, a senior scientist at the Natural Resources Defense Council. "There are positive ripple effects throughout the supply chain."
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"EK3 and ShopCast are excited to pioneer a new and innovative in-store program for Wal-Mart Canada and their vendors," said Nick Prigioniero, President and CEO of EK3/ShopCast. "In-store narrowcasting is quickly becoming the advertising choice of retailers and brands alike for its effectiveness, flexibility, and the sheer numbers of qualified buyers it can reach. Using Wal-Mart's marketing data, EK3 and ShopCast have produced content that will be helpful to Wal-Mart, their brands and most importantly their shoppers."
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