Topic > Damage to Wal-Mart - 922

Wal-Mart is an instantly recognizable name in many countries around the world. It conjures images of a low-price wonderland where everything a consumer would want is available all in one place. But this cheerful image that Wal-Mart tries to create is far from true. Poor wages and benefits for workers and the destruction of small communities should be what you think of when you hear the name of that company. However, Wal-Mart wasn't that corrupt to begin with. In 1962, Sam Walton opened his first store in Rogers, Arkansas. 1962 saw the birth of the discount store, with the first Kmart and Target stores opening in the same year. Walton's philosophy was to give customers what they wanted. It said it wanted to offer "good quality merchandise; the lowest prices possible; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; a pleasant shopping experience." In 1970, shares were offered on the New York Stock Exchange, and the company grew from fifteen stores to 276 by the end of the 1970s. In the 1980s Wal-Mart experienced a boom, reaching 1,400 stores. They also opened the first Sam's Club and the first Wal-Mart Supercenter, which included a grocery section. In 1990 it became the nation's number one retailer and in '91 it entered the international market with a store in Mexico City. By 1995 they had stores in all fifty states and 276 international stores. There are currently 3,700 stores in the United States and another 1,500 around the world. Wal-Mart has announced its goal to double its Supercenter stores to 3,131 in operation by 2010. So what is the result of this business expansion? The failure of local economies, the lowering of US labor standards, and the abuse of the environment have all been blamed on the Wal-Mart corporation. One aspect I have witnessed is the impact on local economies. I grew up in a small town where the major retailers were locally owned grocery stores, a Target, and a Kmart. Wal-Mart started about ten years ago and not long after Target went out of business. Kmart is now on the verge of closing and has already laid off most of its staff. Many small clothing stores and the record store closed their doors. Now Wal-Mart is being turned into a Supercenter, which surely means one if not both grocery stores will close.