The secret of success of the retail kingdom Wal-Mart: In August 1996, Wal-Mart, the world's number one retail brand, entered the Chinese market and set off a shopping whirlwind in Shenzhen, which stunned the traditional department store retail industry.

What is Wal-Mart's marketing secret? How did Wal-Mart establish a retail empire that dominates the world? Wal-Mart founder Sam Walton put it clearly - we work side by side, this is the secret.

We lower living expenses for every customer.

We want to give the world a chance to see what it means to improve the lives of all people through frugality.

$93.6 billion: World record sales. No industry is more closely related to consumers’ daily lives than retail.

An American scholar once vividly defined the mission of the retail industry as "improving living standards and spreading happiness."

And Wal-Mart (WAL-MART) is the brightest pearl in this industry.

In 1991, Wal-Mart's annual sales exceeded US$40 billion, becoming one of the world's largest retail companies.

According to the national service industry classification rankings published by the US "Happiness" magazine in May 1994, Wal-Mart's sales in 1993 reached 67.34 billion U.S. dollars, an increase of more than 11.8 billion over the previous year, surpassing the Western United States, which ranked first in 1992.

Sears ranks first in the U.S. retail industry.

In 1995, Wal-Mart's sales continued to grow and set a world record in the retail industry, achieving annual sales of US$93.6 billion, and ranking fourth on the Fortune Magazine's 95 list of the largest American companies.

In fact, Wal-Mart's annual sales are equivalent to the sum of all department stores in the United States, and it still maintains a strong momentum of development.

In comparison, the annual sales of some large department stores in Beijing, Shanghai and Guangzhou in my country are only several billion yuan, which is astonishingly different from Wal-Mart.

So far, Wal-Mart has 2,133 Wal-Mart stores, 469 Sam's Club stores and 248 Wal-Mart shopping plazas across the United States, Mexico, Canada, Puerto Rico, Brazil, Argentina, South Africa, China, Indonesia and other places.

Its rapid development in just a few decades has to be said to be a miracle in the retail industry.

I would like to ask, how can Wal-Mart rapidly develop from a small retail store to a large retail group and become the world's No. 1 retail brand? First of all, Wal-Mart has proposed the purpose of "helping customers save every penny" and has achieved the lowest price.

Cheap promise.

Secondly, it is not enough to just have cheap products. Wal-Mart also provides customers with the new enjoyment of super-first-class services.

The company has always adhered to the principle of "outstanding service and distinctive employees".

When entering Wal-Mart, customers can feel the attentive service that makes them feel at home.

Thirdly, Wal-Mart promotes the new concept of "one-stop" shopping.

Customers can purchase all the goods they need in the shortest time and as quickly as possible. It is this fast and convenient shopping method that attracts modern consumers.

In addition, although Wal-Mart has repeatedly reduced advertising expenditures in order to reduce costs, it has spared no effort in donating money to various public welfare causes and doing good to others.

If you put in the effort, you will reap the rewards. Walmart's large long-term investment in charity activities and the unique creativity of the activities themselves have greatly increased the brand's popularity and successfully created the brand's outstanding image in the minds of consumers.

Finally, and the most critical reason why Wal-Mart can surpass Sears, is that Wal-Mart adopts different retail business forms to target different target consumers, occupying high-end and low-end markets respectively.

For example: Wal-Mart's Affordable Shopping Plaza, which targets middle-class and lower-middle-class consumers; Sam's Club, which provides various discounts and services only to members; and Wal-Mart's comprehensive department stores, which are popular among upper-class consumers.

The above five reasons have enabled Wal-Mart to stand out from the retail industry and establish a unique contemporary retail kingdom.

The following is a detailed explanation of its success from these five aspects. Domestic retail companies may be inspired by it to speed up the process of developing international retail brands.

1. The promise of the cheapest prices. All large supermarket chains adopt a low-price management strategy. What makes Wal-Mart unique is that it tries every means to save money from purchase channels, distribution methods, marketing expenses, administrative expenses, etc.

We put forward the slogan of "affordable prices every day, consistent" and worked hard to realize the promise of cheaper prices than other companies.

Rigorous purchasing attitude, complete delivery system and advanced inventory management are the key factors that enable Wal-Mart to achieve the lowest cost and cheapest price.

Its founder Walton once said, "We value the value of every penny, because one of the purposes of our service is to help every customer who purchases in the store save money. Every time we save a dollar, we win

To gain the trust of customers. "For this reason, he requires every purchasing staff to be firm when purchasing goods.

He warned: "You are not bargaining for the store, but for the customer. We should get the best price for the customer." Wal-Mart usually purchases goods directly from the factory at the lowest purchase price.

Once the transaction is completed, the headquarters will notify the manufacturer to send the goods directly to Wal-Mart's delivery center.