Walmart is known for its low prices. Here's how the retail giant does it.
Since first opening in the early 1960s, Walmart has followed the guidance of late founder and namesake Sam Walton to keep operations costs low.
Walmart can demand lower wholesale rates than just about any other retailer on earth, and it passes these savings on to customers.Walmart sells more of just about everything than pretty much any other seller, and it sells many products for less than anyone else. Taking that into account, Walmart could make more moneyIf the corner store sells three razors for $2.99 that it bought at wholesale for $1.99, that shop just made $3, for example.
But when it does that another 10,000 times in a single day and also sells cat litter, fresh lettuce, basketballs, blue jeans, and everything else, its tighter margins have little appreciable impact on overall profits.
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