New Trends in Retailing as It Affects Our Wal-Mart Program…
If any generalization is true of retailing in the 70s, it would have to be that our business is one of constant change. Increasingly this is just as true in our small trade centers as well as in the larger metropolitan areas. Consequently, it is most important that all of us in Wal-Mart be alert and curious to new trends and developments in retailing. It is imperative that each new process be studied and analyzed thoroughly to see if we can adopt the idea for Wal-Mart; or oftentimes we need to be informed in order to do a better job ourselves in certain specialized areas.
We’ve also had many innovative and excellent suggestions given us from within our own ranks that have been incorporated into our program for which we can be most thankful.
Let me share with you as of now some of these recent developments that would seem to have significance to us in Wal-Mart.
I’m predicting the majors will find some tough competitive markets and there may not be the gold that they expected to find in such abundance in these “country” markets.
So the moral of the story is how can we best prepare ourselves for what’s ahead of us in the coming year 1974 and through to 1980.
First, let’s all keep tuned, open, and ready to try any new or different technique that might work for us and strengthen our program.
Second, our major aim and concern must constantly be to do a better job satisfying our customers, both with service and a selection and assortment of merchandise. And nothing is more important than having concerned, interested people at store level, doing and enjoying their jobs.
We’ve got a people company and it’s a people satisfying business. We must develop the proper management skills and techniques so that our program is good for all of us at all levels in our company. Then, and only then, can we truly compete on a consistent basis with anybody that might come down the road with whatever new approach and technique.
I truly feel that our type store will need to be constantly changed with new lines of merchandise and that certain other lines will be dropped, but the total key for our stores is that we retain our philosophy of being not only the dominant store in our areas, but more importantly, that we do the best job of anybody around rendering effective, friendly customer service.
I know we all agree Wal-Mart is No. 1 now, and I have a positive feeling that our people will settle no less than that our stores remain No. 1 in our communities for years to come. It will take us all thinking together and working together to achieve this goal for 1974, as well as in years to come.