Authors: Ravindra P. Saxena; Arpana Sharma
Addresses: Faculty of Business and Management, University of Wollongong in Dubai, P.O. Box 20183, Dubai, UAE. ' University of Wollongong in Dubai, P.O. Box 20183, Dubai, UAE
Abstract: Almost for last five decades, |Walmart – the world|s largest retailer| has been known to everyone for |everyday low prices| has successfully revamped its image by giving the new message of |save money-live better| during the difficult phase of economic downturn. In 2008, while the recession was at its worst point, Walmart was one of the most popular stocks on Wall Street. In recession, when most of the retailers are struggling for their survival; Walmart is registering its growth year by year. It seems Walmart is immune from economic pressures and appears to be benefiting from this recession. Walmart|s advantage during the recession is not only its low prices, but also the good value which they offer to their customers by proving their saying |save money, live better|. The authors highlight how a company|s core value system and its strategic moves can ensure continuous success even during the worst phase of recession.
Keywords: Walmart; economic recessions; retailing; value propositions; merchandising; merchandise; USA; United States; low prices; retailers; retail trade; supermarkets; company image; economic downturns; stock exchanges; growth; economic pressures; good value; customers; core values; value systems; strategic moves; continuous success; business strategies; globalisation.
International Journal of Business and Globalisation, 2011 Vol.7 No.4, pp.409 - 433
Available online: 03 Oct 2011 *Full-text access for editors Access for subscribers Purchase this article Comment on this article