Walmart's 1990s Boom: A Retail Revolution
The first Walmart store was launched in Rogers, Arkansas in 1962 by Sam Walton. By 1990, it had achieved the title of the No. 1 retailer in the United States, a remarkable feat considering it operated 276 stores generating $1 billion annually by 1980. Celebrating its 60th anniversary in 2022, Walmart continued to thrive, reporting an impressive $648 billion in revenue for the fiscal year 2024, showcasing its enduring impact on the retail industry. As Walmart expanded into international markets including Canada, China, and the UK during the '90s, it solidified its status as a global retail powerhouse. Despite its successful growth trajectory, Walmart faced challenges, notably controversies surrounding labor practices. The brand's marketing strategy, grounded in 'Every Day Low Prices' (EDLP), offered customers significant savings, making Walmart a preferred shopping destination for many. Old photos from this era depict the diverse crowd of eager shoppers participating in the retail phenomenon. As it approaches 2025, Walmart operates over 10,600 stores across 19 countries, employing approximately 2.1 million people worldwide, reinforcing its position as a leading retail giant. Read more about Walmart's journey and the lessons learned through their historical changes and innovations.