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The Company With Lower Prices And Better Benefits Than Walmart

by TLTheLiberator
8 replies
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The Company With Lower Prices And Better Benefits Than Walmart | ThinkProgress

From the story...

"More than 400 “front-line” workers — clerks, cashiers, and others who are not at the executive level — have retirement accounts that are worth at least $1 million, according to a company spokesman."

Wow!

How do they do it?

Why do they do it?
  • Profile picture of the author Kurt
    Originally Posted by TLTheLiberator View Post

    I ran across that article a few days ago. I'd say Walmart would be in trouble, except I'd expect them to adopt a similar business model.

    But it does show you can make money and treat employees well at the same time.
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    • Profile picture of the author TLTheLiberator
      Originally Posted by Kurt View Post

      I ran across that article a few days ago. I'd say Walmart would be in trouble, except I'd expect them to adopt a similar business model.

      But it does show you can make money and treat employees well at the same time.
      If Walmart adopts the same model that would be a very good thing.

      All The Best!!
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  • Profile picture of the author bizgrower
    If Sam were alive, I believe Wal-Mart would be running more like this than the bean counter crap they do now.
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  • Profile picture of the author seasoned
    I don't know about walmart, but a competitor, costco, at least USED to have a similar model to save costs, though THEY had baggers. Still, not having a bagger probably reduces employee costs by close to 33%. Not accepting credit cards probably increases profit by about 3%. They ALSO get the float, even if it is only a day. 8+(33% or 2.64)=10.64 The 3% is less predictable, but almost certainly brings it up over $11.

    Still, that is one less employee at each station. HOW do they accept SNAP cards? What happens when they get rid of cash, etc? It IS disappearing. Even costco relented.

    If walmart switched to cash, they would likely lose a lot of business. They ALSO would likely lose the SNAP business. I mean how many people buy computers or large TVs with cash now?

    Steve
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  • Profile picture of the author Sumit Menon
    Good for them! Wikipedia says -

    Its business strategy is low cost but superior service achieved through a smaller selection, direct purchase from suppliers, basic stores, no advertising but better paid employees.
    Walmart must spend a great deal on advertising?
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    • Profile picture of the author seasoned
      Originally Posted by Sumit Menon View Post

      Good for them! Wikipedia says -

      Walmart must spend a great deal on advertising?
      Out of all of these stores, walmart ironically likely pays the most. I cant recall priceco or costco advertising. I'm not even sure if samsclub does.

      BTW priceco, costco, sams club, and wallmart ALL buy direct. I think all but wallmart shoot for simple stores that have a limited SIZE selection. You may be out of luck if you want a normal box of cereal, etc...

      Steve
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    • Profile picture of the author Kay King
      Walmart is changing its model in ways few notice. Online, WM has tremendously increased available products where just a few years ago the WM sites was a reflection of the store products. Now it looks like a mini-Amazon with free shipment to a nearby WM store.

      Of course there are businesses with different - and better - models of how employees are [paid, etc etc etc. These articles ignore one important fact - Walmart is AVAILABLE.

      I love Costco - but don't have one anywhere near me. Even the closest Sam's club is 30 minutes or so away. On this stretch of coast, there is a Super Walmart 10 minutes or less from almost everyone living here.

      In the local markets - those competing companies might do well...but they haven't expanded across the country like WM has. Availability is a big factor in WM success and a big part of the WM business plan.
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  • Profile picture of the author danr62
    I have a WinCo just around the corner from me and I love it. They don't take credit but they do take debit and food stamp cards.
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