Walmart is a very successful supermarket chain, but behind that success there are many sales and customer acquisition strategies applied. If you want to know what they are, stay reading below about What are Walmart’s strategies to attract customers and increase sales?
Strategies that Walmart has been developing over the years
Expansion of the company
Yes OK Walmart is already a very large supermarket chain, it does not stop growing and increasing its headquarters each year significantly. That is why for years one of Walmart’s goals has been to increase the number of square meters of its supermarkets established in various locations around the world.
It is so much so that for the year 2003 Walmart had planned around 200 super centers and about 50 Walmart supermarkets, despite the fact that they already had 1,700 super centers and more than 1,600 discount supermarkets.
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Since its inception, Walmart has been characterized as a chain of supermarkets that fill their stores with products with low prices. In these supermarkets they focus on always having the lowest prices in food products so that customers go to their establishments and purchase them, while also acquiring other products with profitable prices.
At Walmart, prices are so low (for food products) that they are said to be a 15% cheaper than in other supermarkets existing. This inordinate amount of low prices at Walmart is mainly due to the acclaimed grocery chain refraining from having a union-affiliated workforce and their stupendous supplies.
Pioneers in logistics
Walmart has been characterized by giving a more than adequate use to the logistics they use, because among other things, they have known handle properly in terms of technology and use it correctly in favor of the company.
In addition, it should be noted that the low prices at Walmart also lie in how this company has managed to behave in terms of distribution, which particularly benefits its suppliers.
In this way Walmart has achieved consolidate a relationship with your vendors, in which both parties provide data that serve to determine what is being sold easily at the moment. However, what is achieved is that suppliers can lower or increase production according to what is being sold and Walmart keep their prices low.
What are Walmart’s strategies to attract customers and increase sales? 2020 strategies
- Logistics: although we have already highlighted this aspect previously, it is worth mentioning it again, since currently Walmart has different distribution centers and it has a competent division that focuses on the logistics part of the company.
- Company staff: Walmart staff are very well trained for each of their tasks, and the company also cares about motivating its team, so it constantly organizes events where staff can even interact with celebrities, so that motivation is provided effect.
- Different formats: Walmart over time has reinvented itself, thus generating various types of venues such as Supercenters, Sam’s Club, Discount Stores, Neighborhood Markets, Walmart International and of course, Walmart.com, each of these with different aspects as well as different types of points of sale.
- Systems: Walmart currently has state-of-the-art technology, implementing the EPC (electronic product code) system and RFID technology (radio frequency identification). In addition, since 2019 in several of its headquarters robots have been implemented to check missing products on the shelves and clean floors.
- Suppliers and value: Walmart has a wide catalog of suppliers, where large companies, small suppliers and foreign companies stand out. In addition, they stand out for their variety of fashionable products, with high quality and, of course, low prices.
- Communication: Walmart also cares about the community, so they have created various social help programs.
- Products: at Walmart they have a team that is in charge of doing an extensive market analysis, where samples of merchandise are attended, analyze the competition and they try to make their products attractive to customers and appropriately displayed.
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