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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Walmart summary
Natalie Berg
Bryan Roberts
Key Insights and Practical Lessons from the World's Largest Retailer
17 mins
Brief summary
"Walmart" by Natalie Berg and Bryan Roberts is a comprehensive account of the rise of Walmart and how it changed American commerce. The authors examine the company's business model, leadership style, and impact on local communities.
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Walmart
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Key idea 1 of 7
Walmart delivers low prices by increasing scale and ruthlessly focusing on efficiency.
How did Walmart become the largest retailer in the world? There are two core principles responsible for the company’s success: low prices and broad selection.
Let’s start with price. Walmart’s pricing policy is famous in its own right. The company’s policy is called EDLP – Every Day Low Prices – and Walmart works hard to deliver on that promise.
But how do they manage to do so?
In a word, efficiency. Walmart is ruthless in taking every possible measure to cut its costs and lower its prices.
Here’s just one example: In the early 1990s, deodorant was packaged in cardboard boxes. Walmart saw this as an unnecessary cost, as the extra packaging took up precious shelf space and wasted fuel in transport, making shipping more costly. So Walmart asked deodorant suppliers to sell their products without boxes. And as a result, the retailer saved 5 cents on every deodorant sold!
Scale also plays an important role in Walmart’s commitment to low prices. Buying and selling higher volumes of goods allow the company to reduce prices.
This may seem counterintuitive, in that we typically assume that selling a product at a lower price leads to lower profits. But that’s not necessarily true, as Walmart knows well.
Let’s say you buy an item for 60 cents and sell it for $1, rather than $1.20. By pricing the item lower, you’ll sell three times as many items. So although you’re earning less per item, you earn more overall.
It’s also worth noting that there’s another advantage to scale. In Walmart’s case, the larger it becomes, the more bargaining power it has with suppliers. Walmart has such market clout that suppliers simply can’t afford not to place their products on the retailer’s shelves.
Thus, suppliers sell to Walmart at lower prices, which allows the retailer to pass on the savings to customers.
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What is Walmart about?
In Walmart (2012), authors Natalie Berg and Bryan Roberts share key insights and business principles from the company that reveal how it became the biggest retailer in the world. Examining the retailer’s unprecedented success, the authors also discuss Walmart’s future challenges.
Walmart Review
Walmart (2022) by Natalie Berg and Bryan Roberts is a comprehensive exploration of the world's largest retailer. Here's why this book is worth reading:
- Delving into Walmart's strategies and business practices, it offers fascinating insights into the company's rise to dominance and its impact on the retail industry.
- Through real-life examples and case studies, the book sheds light on how Walmart transformed the retail landscape and shaped consumer behavior.
- With its meticulous research and sharp analysis, the book provides valuable knowledge and understanding of Walmart's business model and its implications.
Best quote from Walmart
Our biggest single advantage globally is our supply chain. We still kick ass in logistics!
—Natalie Berg and Bryan Roberts
Who should read Walmart?
- Anyone interested in business innovation
- Anyone who wants to learn about how to run a successful retailer
- Anyone wondering how Walmart carved its path to success
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Walmart FAQs
What is the main message of Walmart?
The main message of Walmart is about the retail giant's success and impact on the global economy.
How long does it take to read Walmart?
The reading time for Walmart varies depending on the reader's speed, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is Walmart a good book? Is it worth reading?
Walmart is worth reading for those interested in the retail industry. It provides insights into the company's strategies and its influence on the market.
Who is the author of Walmart?
The authors of Walmart are Natalie Berg and Bryan Roberts.
What to read after Walmart?
If you're wondering what to read next after Walmart, here are some recommendations we suggest:
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