On July 2, 1962 Sam Walton opened the first Wal-Mart store in Rogers, Arkansas. At the time, the discount industry was fairy young and nobody wanted to take the risk and invest in the first Wal-Mart. However, Sam Walton was convinced that consumers would flock to a discount store with a wide variety of merchandise and friendly customer service. (1a) Therefore, Sam Walton invested about 95 percent of money needed to start the company and placed everything he owned on the line.
By 1969 Wal-Mart became incorporated and expanded to 18 stores in four states, Arkansas, Missouri, Kansas, and Oklahoma. Ten years later, Sam Walton had established 276 Wal-Mart stores in 11 states. A key to Wal-Mart?s success with consumers is its hometown identity. An example is shoppers are personally welcomed at the entrance by People Greeters. (1b) Because of this, despite being a huge retailer, many Wal-Mart stores are located in small towns with a population count less than 25,000.
By the 1980?s, Wal-Mart was on top of the retail market growing at a rapid pace. In 1988 Wal-Mart expanded its product line with the opening of its
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