From 23rd
to 70th, and Falling!
The Fall
of Walmart from The Barron’s Most Favored Companies List
7
July 2014
Copyright
© 2014 – It’s Not Sam’s Walmart…..Anymore!
On June 28h, 2014, Barron’s released its 2014 World’s
Most Respected Companies Survey.
In the 2013 edition of the survey, Walmart Stores
Inc., ranked in 23rd Place.
This year’s edition, Walmart has fallen to 70th Place!
Yes, 70th place.
Why?
Oh Why Is Walmart Falling Like A Brick Off The Barron’s Survey?
It is a easy answer.
Just walk into a Walmart store.
You will find, Empty Shelves, Lack of Selection, No
Layaway, Little if any Customer Service, and High Prices, just to name a few.
Empty Shelves
Since late April, I have been conducting a little
“shelf out” project in one local Walmart store.
Item being monitored is a very popular Fram Tough
Guard Oil Filter, TG-3506 to be exact.
This filter is widely used in many General Motors products from the late
1990’s to present. Each time we have
checked, the filter is “out”. These
checks have been conducted many times each week.
Time was an “out” in a Walmart Store was
considered a very serious thing, something that the Department Manager had to
answer to the higher powers on.
When I inquired when they might get a new stock,
the answer, time and time again was “I don’t know”.
When I had the opportunity to meet Mr. Sam, long
before becoming an Walmart shareholder, and later an Walmart Associate, he said
the one thing he never wanted to hear was “I don’t know”. Translated, “I don’t know” is “I do not care
about you as a customer”. In Mr. Sam’s
teachings, if you did not know, you needed to find someone that did.
Alas that thinking has long gone from Walmart.
For the record, the Menard’s store across the
street from this Walmart, did have plenty of stock of that TG-3506 Oil Filter,
and when I asked how long it takes if they should run out, the reply is, we
should never run out of stock. Oh, and
Menard’s price, less than Walmart’s.
Lack of Selection
Remember that epic fail not too many years ago
where Walmart eliminated items that supposedly were not selling well to
increase stocking space for items that were?
As part of that project, it was determined that
action alley displays were “tacky” and needed to go. In return, additional shelving space would be
added.
Walmart spent millions to roll out that project,
and lost millions in sales.
Sad news is, they still are.
Yes, most if not all stores have now been converted
back, the extra shelving removed, the action alley displays restored, all at
millions of dollars of additional expenses.
But the selections that were eliminated originally were not restored,
and in fact, more items have vanished from Walmart shelves.
Example, you can no longer find smaller sizes of
liquid laundry detergent.
Hint! Hint! Walmart! Smaller households, do not need the mega
sized 50 load liquid laundry detergent.
Continued lack of selection is costing Walmart
customers, like me that have found those products that Walmart has eliminated
elsewhere, costing Walmart millions of dollars in sales.
Who is happy that Walmart continues this Lack of
Selection binge?
Yep, their competitors.
Lack of Layaway
Another epic fail in the last decade was
Walmart’s decision to eliminate Layaway in 2005.
It is one of the two reasons K-Mart is still a
going (not very well) concern.
Walmart decided to eliminate Layaway in order to
push its branded credit card with GE Bank, a card with an interest rate above
20%, and criteria such that the majority of those who utilized Layaway would
never qualify for the card.
Layaway afforded tens of thousands of loyal
Walmart customers the opportunity to buy the merchandise they desired, over a
set time, without any charges.
Layaway brought in countless dollars in
sales. After all, Walmart was one of the
few retailers that offered Layaway.
Just like the epic “Lack Of Selection” fail,
Walmart once again repeated itself, by offering limited Layaway with service
charges.
There are people at K-Mart rejoicing at this epic
fail, times two.
Little, If Any, Customer Service
If the Oil Filter example was not enough in the
“Little, If Any, Customer Service” subject, here are a few more things to toss
up for the discussion.
When was the last time you actually got
exceptional Customer Service at Walmart?
When was the last time you saw a Walmart Employee
(yes, they’re not called “Associates” anymore), with a name badge that had “5,
10, 15, 20, 25 Years Of Service” on it?
When was the last time you shopped at a Walmart
and did not have to wait in a line for a lengthy period of time to check out?
When was the last time, late in the evening, a
staffed check out was open for you?
If you are like a lot of Walmart’s tried and true
customers, you have jumped ship and now shop with competitors instead.
Customer Service was the hallmark of Mr. Sam’s
company. Mr. Sam called those that
worked for him, “Associates”. Those
“Associates” had a stake in the success of Mr. Sam’s company, and they were
rewarded quite well, for those successes.
All of this is now gone and forgotten.
High Prices
Epic Failure after Epic Failure that has cost
millions and millions of dollars, and in the two examples above, have not been
corrected, have to be paid for.
Who pays for these Epic Walmart Failures?
The Customers.
How Can Walmart Become One of The Most Admired Companies Again?
Mr. Sam’s Beliefs, Values, and Rock Solid
Business Model that stressed Customer Service and Value must be restored!
Coming Soon!
In the days and weeks ahead, It’s Not Sam’s
Walmart…..Anymore!, articles will discuss subjects from why Walmart
shareholders are actually losing money, to real facts about Walmart wages and
benefits before the liberal regime took over the company.
“From
23rd to 70th and Falling!” is copyrighted © 2014 by It’s Not Sam’s
Walmart….Anymore!
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Not Sam’s Walmart…..Anymore! Is a Free
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It’s
Not Sam’s Walmart…..Anymore! is here for
one reason, to return Sam Walton’s beliefs, values, and rock solid business
model , that stresses Customer Service and Value to Walmart!
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Important disclosure notice
It’s Not Sam’s
Walmart…..Anymore! is operated by a 30
year shareholder of Walmart Stores Inc., stock and former associate with over 10
years of service, until he was called “Gay” by a cashier, and shoved out the
door. This shareholder has no plans to
purchase or sell any shares of Walmart Stores Inc., and has not done so in the
last 90 days.
