Years ago I read Sam Walton's biography and was impressed by the story of the Southern fellow who turned a brilliant yet simplistic human insight (they like to pay low prices) and fanaticism for competition and efficiency into what today is the largest company in the world.
The title of this book promised a deeper look into the positive and negative impacts upon communities and nations by Walmart, and it delivered. Written as a collection of insights wrapped in specific stories of individual customers (that is, companies that are suppliers or competitors), it's a smooth and telling read.
Walmart shoppers reap the incredible benefits of $2.97 gallons of pickles and a $4.54 pound of salmon. Low prices mean low profits, cheap furniture in executive offices, low-paid employees. Relentless price control means suppliers occasionally go out of business trying to keep their products on Walmart's shelves, or come to their senses and preach quality over quantity to ride out the cost-cutting storm. Farms in South America and factories around the world occasionally employ substandard working conditions or environmentally-threatening waste dumps. By some studies, mom-and-pop stores close and poverty levels increase when Walton's legacy comes to town. On the other hand, Walmart has made some suppliers tremendously successful and managed to have a national suppressing effect on inflation.
93% of Americans shop at Walmart every year, and I come away feeling concern about the ill effects of single-mindedness upon others affected. In the end, regulatory bodies have to do their part... a similar book could have been written about other corporations which all have their shortcomings.
15% off my bag of groceries? In all, the book's reminded me to shop there more often.
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