Stores Like Walmart: Walmart was founded in 1962 by Sam Walton as a single discount retailer to offer more for less. It is now the world’s largest retail conglomerate, with over 11,300 hypermarkets, grocery, and discount stores operating in 27 countries under 55 distinct names. The corporation employs 2.2 million people worldwide, with 1.5 million of them based in the United States.
Walmart has various operating divisions, including Walmart US, Walmart International, Sam’s Club, and Global eCommerce, which provide different retail formats. Walmart has a revenue of $514.4 billion and is known for its everyday low prices. A single discount store to sell more items for less money.
Walmart’s competitors include Home Depot, Walgreens, Lowe’s, Costco, Amazon, Target, Kroger, and eBay.
1. Home Depot
Home depot is one of the stores like Walmart and a home improvement firm that sells gardening, home renovation, and construction items. Other services include installing windows, floor tiles, roofing, kitchen cabinets, water heaters, vinyl siding, and other products. In addition, the majority of the repair and remodeling work is done by third-party contractors.
The Company, which was started in June 1978, caters to homeowners, remodelers, general contractors, small and medium-sized businesses, and tradespeople. Its headquarters are in Atlanta, Georgia.
Walgreens began as a pharma store in 1901 and was founded by Charles Rudolph Walgreen. Walgreens Boots Alliance, Inc. was formed in 2014 when the firm joined with Alliance Boots. The American firm owns one of the largest pharma store chains in the country, with 9560 locations. WBA focuses on pharmacy, front end, health care, and consumer services to establish its brand.
This Walmart competitor made $131.5 billion in revenue in 2018, up 11.3 percent from the previous year. The Company’s USA Division accounted for 74% of overall revenue. Walgreens is dedicated to providing a better healthcare and retail experience to its customers.
Lowe’s Inc., like Home Depot, sells building materials, garden accessories, and other home improvement products. The majority of its products are used for property upkeep, home décor, renovation, and repairs, among other things. It was created in 1946 and had its headquarters in Mooresville, North Carolina.
Lowe’s employs 290,000 individuals who helped the Company achieved $65 billion in sales in 2017. The Company’s Market Cap was more than $70 billion in the same year.
World’s best employer, a top firm in asset base and market value, Only Company, leading in brand value and leading inventive Company are just a few of its awards.
Costco, another store like Walmart, is a membership-only warehouse club with a global reach. James Sinegal and Jeffrey Brotman founded the Company in 1976, and it is based in Issaquah, Washington.
There are 770 Costco membership warehouses in total, with 531 in the US, 100 in Canada, 39 in Mexico, 28 in the UK, and 4 in Puerto Rico. In addition, Japan, South Korea, and Taiwan each have 26, 15, and 10 warehouses. Globally, the Company has about 94 million cardholders and subscriptions.
Costco Wholesale Corporation caters to large families and businesses, offering high-quality products in quantity at reasonable prices. The corporation made a profit of $3.13 billion on revenue of $141.6 billion.
Bezos started Amazon, the world’s largest e-commerce retailer, in 1994. The Company’s headquarters are located in Seattle, Washington. Amazon is a tech behemoth and main Walmart’s competitor in the United States, China, India, and other countries. It operates in numerous business categories, including online shopping, Amazon web services, digital stream, and is now attempting to break into offline retailing.
Amazon.com dominates the US e-commerce business, accounting for over half of all online purchases. Amazon’s main competitive advantage is its capacity to evolve and adapt. The corporation is divided into various segments, contributing significantly to the Company’s revenue stream. The corporation made a profit of US$ 10.073 billion on revenue of US$ 232.887 billion. Now, Walmart has been compelled to rethink its e-commerce strategy due to Amazon’s persistent competition.
Target is one of the retail stores like Walmart in the United States that sells a variety of products in many categories. George Draper Dayton launched the first store in 1902, and it has since grown to 1,000 locations and 41 distribution locations around the country. The Company also has an eCommerce site that follows the same approach as its physical stores; offering more for less. In 2018, Target made $ 75.3 billion in revenue, with 36,000 employees.
Target competes with clothing, wholesale clubs, drugstores, supermarkets, and traditional and internet merchants. It is one of the top 10 retail chains in the world. Beauty care products account for 24% of its revenue, followed by food and beverage (20%), fashion (20%), and home goods and furnishings (20%). It owns 20 different brands.
7. The Kroger
Kroger owns and runs pharmacies, convenience stores, retail grocery stores, jewelry stores, and other businesses. Food sold at supermarkets is also processed there.
Barney Kroger started Kroger in the US in 1883, and the Company’s headquarters are in Cincinnati, Ohio. This Walmart competitor also owns and manages multi-department stores that sell a wide range of general commodities, such as home furnishings, toys, automotive products, jewelry, electronics, and so on. In addition, it now has more outdoor merchandise, more economical warehousing services, and health, beauty, and grocery deals. It employs over 450,000 people worldwide and had sales of about $120 billion in 2017.
Pierre M. Omidyar created eBay in 1995, and it is now working in the Internet and Catalogue Retail Industry. The headquarters of eBay is in San Jose, California, and it employs roughly 13,000 employees.
eBay operates Marketplace, StubHub, and other online e-commerce websites, with a market capitalization of $40 billion and sales of about $10 billion. It also offers marketing and advertising services.
eBay is the best employer for diversity, the top employer globally, the most inventive firm, and the most valuable brand, among other accolades. It is also one of the top 500 firms in the Global 2000.
Despite the ferocious competition, Walmart has managed to stay afloat. This is because, throughout the years, Walmart has remained loyal to its mission and continually strived to provide affordable daily costs to its customers. That demonstrates how gaining a specific competitive advantage has proven to be a profitable strategy for Walmart in the race to keep ahead of the competition.
Even though Walmart’s competitors or stores like Walmart have a big audience, the items and services they provide still significantly influence attracting customers. Walmart is embracing the e-commerce marketplace with flying colors, even though many competition-increasing businesses are in a similar industry.
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