From 23rd to 70th, and Falling!

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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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.