Welcome to Fear and Greed Sunday feature, oh Michael Thompson. This week we talked about Jensen Huang, the co founder of chip maker and Video. Because of the incredible surge in in Nvidia's share price, he now has a fortune worth around ninety two billion US dollars. That makes him the seventeenth richest person in the world. And when we're talking about this through the week, Sean mentioned that mister Huang is now richer than the Walton family members. They are the descendants of the creators of the Walmart retail giant, and that reminded me of this terrific interview. Really is a good one from twenty twenty one when Sean spoke to Dr Kathleen Adams from rot about the extraordinary history of Walmart, where it came from, how it got to be so big, and why you will not find a Walmart in Australia. It is a great interview. I hope you enjoy it.

Welcome to Fear and Greed Sunday feature, oh Michael Thompson. This week we talked about Jensen Huang, the co founder of chip maker and Video. Because of the incredible surge in in Nvidia's share price, he now has a fortune worth around ninety two billion US dollars. That makes him the seventeenth richest person in the world. And when we're talking about this through the week, Sean mentioned that mister Huang is now richer than the Walton family members. They are the descendants of the creators of the Walmart retail giant, and that reminded me of this terrific interview. Really is a good one from twenty twenty one when Sean spoke to Dr Kathleen Adams from rot about the extraordinary history of Walmart, where it came from, how it got to be so big, and why you will not find a Walmart in Australia. It is a great interview. I hope you enjoy it.

To the Fear and Greed Daily Interview, I'm Sean Almer. Walmart is a retail icon in the United States, with two point two million employees worldwide. It's the largest private employer in the world. And the Walton family that still owns a majority share of the company is collectively the wealthiest family on the planet, worth around two hundred and fifty billion US dollars. But despite global expansion, the department and grocery store behemoth has never made it to Australia. I wanted to take a closer look at why Walmart has been so successful, what's set it apart from the rest of the world of retail, and then why there isn't one in every Australian town and city. Doctor Kathleen Adams is a lecturer in marketing at r MIT and is my guest this morning. Kathleen, welcome to Fear and Greed.

To the Fear and Greed Daily Interview, I'm Sean Almer. Walmart is a retail icon in the United States, with two point two million employees worldwide. It's the largest private employer in the world. And the Walton family that still owns a majority share of the company is collectively the wealthiest family on the planet, worth around two hundred and fifty billion US dollars. But despite global expansion, the department and grocery store behemoth has never made it to Australia. I wanted to take a closer look at why Walmart has been so successful, what's set it apart from the rest of the world of retail, and then why there isn't one in every Australian town and city. Doctor Kathleen Adams is a lecturer in marketing at r MIT and is my guest this morning. Kathleen, welcome to Fear and Greed.

Thank you very much, sure Na and Fearing Greed for inviting me here today.

Thank you very much, sure Na and Fearing Greed for inviting me here today.

For those who don't know it, just how big is Walmart the company?

For those who don't know it, just how big is Walmart the company?

Well, you're pretty write in your introduction, Sean, Walmart currently has two point two million associates and that's what we would call employees. It'll come to that, and eleven thousand stores and two hundred million customers every week. It's in another twenty five twenty seven countries, and so there's five nine hundred retail stores in the global world with more than seven hundred thousand associates, and they serve more than one hundred million customers every week. So we've got American statistics, we've got international statistics. But I'm sure this next statistic will blow your mind, like I did mine. Last financial year, and their financial year ended in January this year, their revenue was five hundred and fifty nine billion US dollars.

Well, you're pretty write in your introduction, Sean, Walmart currently has two point two million associates and that's what we would call employees. It'll come to that, and eleven thousand stores and two hundred million customers every week. It's in another twenty five twenty seven countries, and so there's five nine hundred retail stores in the global world with more than seven hundred thousand associates, and they serve more than one hundred million customers every week. So we've got American statistics, we've got international statistics. But I'm sure this next statistic will blow your mind, like I did mine. Last financial year, and their financial year ended in January this year, their revenue was five hundred and fifty nine billion US dollars.

Wow, half a trillion US dollars exactly.

Wow, half a trillion US dollars exactly.

So they're big.

So they're big.

They're big, But people who haven't been to a Walmart, give me a taste of the stores and kind of the products they sell. The thing I always remember about Walmart is, you know, in Australia you have a supermarket and then you have a department store for one of a better term, whereas Walmart really is both together.

They're big, But people who haven't been to a Walmart, give me a taste of the stores and kind of the products they sell. The thing I always remember about Walmart is, you know, in Australia you have a supermarket and then you have a department store for one of a better term, whereas Walmart really is both together.

Absolutely they I was thinking about when I first experienced Walmart, it was quite amazing. I went to a Sam's Club store back in nineteen ninety one and they hadn't been around for very much. You know, we had nothing like it in Australia at that time. Walmart stores or other brands sort of like ride themselves on being one stop shopping and they have, of course, our everyday low prices. Now, this Sam's Club I walked in. It was like a huge warehouse with just about everything you could possibly buy in it. Now. I remember buying some ray Bans sunglasses, which were pretty cool at the time. And then I turned the corner and there was this amazing range of food and clothes and electric stuff, and you know it was I sort of didn't understand at the front door that I was picking up this enormous shopping trolley, but I certainly understood very quickly. By the end of that time, I would fill it up.

Absolutely they I was thinking about when I first experienced Walmart, it was quite amazing. I went to a Sam's Club store back in nineteen ninety one and they hadn't been around for very much. You know, we had nothing like it in Australia at that time. Walmart stores or other brands sort of like ride themselves on being one stop shopping and they have, of course, our everyday low prices. Now, this Sam's Club I walked in. It was like a huge warehouse with just about everything you could possibly buy in it. Now. I remember buying some ray Bans sunglasses, which were pretty cool at the time. And then I turned the corner and there was this amazing range of food and clothes and electric stuff, and you know it was I sort of didn't understand at the front door that I was picking up this enormous shopping trolley, but I certainly understood very quickly. By the end of that time, I would fill it up.

Sam's Club is a part of Walmart, and there's something akin to Costco. Is that all right? Is that crazy?

Sam's Club is a part of Walmart, and there's something akin to Costco. Is that all right? Is that crazy?

Yeah?

Yeah?

Yeah, I think it is. You know Costco were and it started in Australia. I think they came to Australia in about two thousand and nine and their first store was down in Melbourne Stocklands. Now when they came it was straight after the global financial crisis, so that was interesting. There are other Walmart stores. I also visit a normal Walmart store, if I can call it that, and they both had everything. They had a pharmacy, clothing and accessories, big grocery stores. Yeah, lots of guns that went well with bakery and deli and products, didn't it, you know, electronics, toys, home furnishings. The one that I visited at the time, it was in a shopping mall, so they had all the extra normal shops. But some Walmarts have got banks, hair and nail cellons, health and beauty, hardware, restaurants, vision centers. The list really goes on. But I'll have to remember that guns.

Yeah, I think it is. You know Costco were and it started in Australia. I think they came to Australia in about two thousand and nine and their first store was down in Melbourne Stocklands. Now when they came it was straight after the global financial crisis, so that was interesting. There are other Walmart stores. I also visit a normal Walmart store, if I can call it that, and they both had everything. They had a pharmacy, clothing and accessories, big grocery stores. Yeah, lots of guns that went well with bakery and deli and products, didn't it, you know, electronics, toys, home furnishings. The one that I visited at the time, it was in a shopping mall, so they had all the extra normal shops. But some Walmarts have got banks, hair and nail cellons, health and beauty, hardware, restaurants, vision centers. The list really goes on. But I'll have to remember that guns.

They're guns. The thing about Wilmot also is that you just mentioned that it was in a mall. But I think I'm right in saying that many of the Walmarts are actually stand alone stores. Absolutely they are, Yeah, which is a bit different to Australia. Yes, so it's a destination in a sense. It's not like you're going to a more than going to a bunch of stores. The destination is Walmart.

They're guns. The thing about Wilmot also is that you just mentioned that it was in a mall. But I think I'm right in saying that many of the Walmarts are actually stand alone stores. Absolutely they are, Yeah, which is a bit different to Australia. Yes, so it's a destination in a sense. It's not like you're going to a more than going to a bunch of stores. The destination is Walmart.

Yes, it is, and it's very much you know, our closest equivalent would be as we just discussed Costco, and I remember going there and just you know, wow, this is this is Sam's. Again, it's not obviously owned by the Walton family in Costco, but me definitely is you know, like a Walmart supercenter.

Yes, it is, and it's very much you know, our closest equivalent would be as we just discussed Costco, and I remember going there and just you know, wow, this is this is Sam's. Again, it's not obviously owned by the Walton family in Costco, but me definitely is you know, like a Walmart supercenter.

So Sam's KaiB which is part of Walmart, and that's named after Sam Walton, who actually started Walmart back in the early sixties in Arkansas. I think, can you give me a sort of a potted history with the company since then.

So Sam's KaiB which is part of Walmart, and that's named after Sam Walton, who actually started Walmart back in the early sixties in Arkansas. I think, can you give me a sort of a potted history with the company since then.

I'll try. I mean, that might take the rest of our time today, but I'll do my best.

I'll try. I mean, that might take the rest of our time today, but I'll do my best.

The thumbnail sketch.

The thumbnail sketch.

Okay, well, as you said, the first store opened in nineteen sixty two. I'm going to sort of try and blow your mind with the figures. By nineteen sixty seven they had twenty four stores. But they have twelve point seven million dollars in sales, and that's a lot of money in nineteen sixty seven. In nineteen seventy it became a public traded company. Now, their first stock was sold at sixteen dollars fifty per share. Now I looked up yesterday what they were trading for, and they're trading for one hundred and forty one dollars per share. Good thing if you can't keep it that long. Now, in nineteen eighty they'd reached the magic mark of one billion dollars in annual sales. We had two hundred and seventy six doors and twenty one thousand associates. It's relevant to sort of say those figures because you know, many years later those figures were very different. Nineteen eighty three. Sam's Club opened nineteen ninety they were declared the number one retailer in the world. They were convenience and one stop shopping, every day low prices. Now when I hear these convenience and one stop shopping and every day low prices, my brain gets full of coals and well worth using these slogans or released pretty much the same. Nineteen ninety two was an interesting year because he brought out the saying that save people money so that they can live better is what he wanted Walmart to do, and in that same year he passed away in age seventy four. By nineteen ninety seven, they had their first one hundred billion sales in the year. Now, I'll try and be really quick on what happened since two thousand. So in two thousand, Walmart dot Com is founded for US customers only to shop online. At that point they had one point one million associates and four thousand stores. In two thousand and two, they topped the Fortune five hundred rankings of US as the largest companies. I'll skip a few years because it just becomes more and more and more. But in two thy fifteen they had two point two million associates that you started off with, and also those two hundred million customers per week, eleven thousand stores and twenty seven countries. So there you go a bit of a potted history of how Walmart grew.

Okay, well, as you said, the first store opened in nineteen sixty two. I'm going to sort of try and blow your mind with the figures. By nineteen sixty seven they had twenty four stores. But they have twelve point seven million dollars in sales, and that's a lot of money in nineteen sixty seven. In nineteen seventy it became a public traded company. Now, their first stock was sold at sixteen dollars fifty per share. Now I looked up yesterday what they were trading for, and they're trading for one hundred and forty one dollars per share. Good thing if you can't keep it that long. Now, in nineteen eighty they'd reached the magic mark of one billion dollars in annual sales. We had two hundred and seventy six doors and twenty one thousand associates. It's relevant to sort of say those figures because you know, many years later those figures were very different. Nineteen eighty three. Sam's Club opened nineteen ninety they were declared the number one retailer in the world. They were convenience and one stop shopping, every day low prices. Now when I hear these convenience and one stop shopping and every day low prices, my brain gets full of coals and well worth using these slogans or released pretty much the same. Nineteen ninety two was an interesting year because he brought out the saying that save people money so that they can live better is what he wanted Walmart to do, and in that same year he passed away in age seventy four. By nineteen ninety seven, they had their first one hundred billion sales in the year. Now, I'll try and be really quick on what happened since two thousand. So in two thousand, Walmart dot Com is founded for US customers only to shop online. At that point they had one point one million associates and four thousand stores. In two thousand and two, they topped the Fortune five hundred rankings of US as the largest companies. I'll skip a few years because it just becomes more and more and more. But in two thy fifteen they had two point two million associates that you started off with, and also those two hundred million customers per week, eleven thousand stores and twenty seven countries. So there you go a bit of a potted history of how Walmart grew.

Stay with me, Kathleen. We'll be back in a minute. My guest this morning is doctor Kathleen Adams, a lecturer in marketing at r MIT. A lot of the things that Walmart did, even though they haven't come to Australia, were exported to Australia. So I know Roger Corbett, who used to run Woolworths, was a massive Walmart fan. In fact, he may even have been possibly even on the board, but certainly on an advisory board of the Walmart retailers. And so a lot of the ideas that Woolley's bought really came from Walmart.

Stay with me, Kathleen. We'll be back in a minute. My guest this morning is doctor Kathleen Adams, a lecturer in marketing at r MIT. A lot of the things that Walmart did, even though they haven't come to Australia, were exported to Australia. So I know Roger Corbett, who used to run Woolworths, was a massive Walmart fan. In fact, he may even have been possibly even on the board, but certainly on an advisory board of the Walmart retailers. And so a lot of the ideas that Woolley's bought really came from Walmart.

Absolutely. I think as you said, as I just said, Cole's and Walmart started with the slogans, but they definitely every time they refreshed their stores, they sort of see them as becoming more and more like Walmart.

Absolutely. I think as you said, as I just said, Cole's and Walmart started with the slogans, but they definitely every time they refreshed their stores, they sort of see them as becoming more and more like Walmart.

Yeah, yeah, yeah. So the company spread across the world and went to North America first and then China, UK, India, et cetera. How successful is it outside the US, because to my mind, it's a very American experience going to Walmart.

Yeah, yeah, yeah. So the company spread across the world and went to North America first and then China, UK, India, et cetera. How successful is it outside the US, because to my mind, it's a very American experience going to Walmart.

Absolutely, and not everything went to their plan. You know, they have some pretty good disasters. I'll come back to Germany, but that was the major one career and even Japan now the company, he was really stuck there. They have a completely different culture, different competition, different supply chain, and of course we have to sneak Amazon into the discussion. So they went to the UK and that wasn't successful. So they're selling their supermarket chain to Sainsbury's and it was nineteen years after they bought it, so they've had to sell off stores like they made a one billion dollar loss, and in Germany had basically Europe and they had to withdraw. And Germany doesn't allow price cuts, so every retailer there had matching prices and Walmart couldn't really offer anything that others weren't offering. Germany was a big problem, and they certainly learned that there was cultural friction between the US and the German team. So of course, while Walmart was running their stores, it's not as if retailers like stood still like Amazon, they were going to they were introducing things and selling their products at much lower price, says than Walmart. I can't believe that would actually happen, But you know, they continue working in Japan and they spend a lot of time getting some online grosery help. They seem to buy stores that can help them with online service. What about China, Ah, China, they're still there. A few years ago, I was working in China for a little while and I went into one in Suzo, which is a couple of hours sort of south of Shanghai. And I walked in and it didn't impress me very much. It looked sort of a bit, a bit tired. But Chinese, you know, there's so many of them, so many stores they go in. The novelty of going into a Walmart in China is still pretty amazing. But the Chinese, like others, certainly look for the best deal. And so I think that's sort of what's going on in China. They're there, they're making money. They're not going to be removing themselves from that place or that country soon at all.

Absolutely, and not everything went to their plan. You know, they have some pretty good disasters. I'll come back to Germany, but that was the major one career and even Japan now the company, he was really stuck there. They have a completely different culture, different competition, different supply chain, and of course we have to sneak Amazon into the discussion. So they went to the UK and that wasn't successful. So they're selling their supermarket chain to Sainsbury's and it was nineteen years after they bought it, so they've had to sell off stores like they made a one billion dollar loss, and in Germany had basically Europe and they had to withdraw. And Germany doesn't allow price cuts, so every retailer there had matching prices and Walmart couldn't really offer anything that others weren't offering. Germany was a big problem, and they certainly learned that there was cultural friction between the US and the German team. So of course, while Walmart was running their stores, it's not as if retailers like stood still like Amazon, they were going to they were introducing things and selling their products at much lower price, says than Walmart. I can't believe that would actually happen, But you know, they continue working in Japan and they spend a lot of time getting some online grosery help. They seem to buy stores that can help them with online service. What about China, Ah, China, they're still there. A few years ago, I was working in China for a little while and I went into one in Suzo, which is a couple of hours sort of south of Shanghai. And I walked in and it didn't impress me very much. It looked sort of a bit, a bit tired. But Chinese, you know, there's so many of them, so many stores they go in. The novelty of going into a Walmart in China is still pretty amazing. But the Chinese, like others, certainly look for the best deal. And so I think that's sort of what's going on in China. They're there, they're making money. They're not going to be removing themselves from that place or that country soon at all.

So why do you think Walmart never made it to Australia.

So why do you think Walmart never made it to Australia.

That's a really good question, and I'm sure they looked at us. But we're a country with only about twenty five five million people and that's always been a problem for mass retailers that wanted to come to Australia. We've got a really strict minimum wage of nineteen dollars eighty four. We also have, of course, we know four weeks paid annual leave, sickly even even superannuation, so if we put those all together, it all adds up. In addition, we've had a lot of large retailers who had trouble. The stores that close that I can think of off the top of my head was Dimer Roo. I work for them a couple of years, the Levice specialty store, Toys r Us. I'm sure I've forgotten them all. And as we know at the moment, many Target stores are currently shutting down or being rebirthed as a Kmart store. So it doesn't look really good for Walmart looking in in Australia.

That's a really good question, and I'm sure they looked at us. But we're a country with only about twenty five five million people and that's always been a problem for mass retailers that wanted to come to Australia. We've got a really strict minimum wage of nineteen dollars eighty four. We also have, of course, we know four weeks paid annual leave, sickly even even superannuation, so if we put those all together, it all adds up. In addition, we've had a lot of large retailers who had trouble. The stores that close that I can think of off the top of my head was Dimer Roo. I work for them a couple of years, the Levice specialty store, Toys r Us. I'm sure I've forgotten them all. And as we know at the moment, many Target stores are currently shutting down or being rebirthed as a Kmart store. So it doesn't look really good for Walmart looking in in Australia.

And I suppose in the grocery part of it, Coles and Wools are such dominant players. But you also have Aldi and met Cash, slash IgA and even Costco to some extent here, and they.

And I suppose in the grocery part of it, Coles and Wools are such dominant players. But you also have Aldi and met Cash, slash IgA and even Costco to some extent here, and they.

Were talking about Liddel the other one sort of like Aldi spelt differently Germany coming, and I understand that that's almost on hold because of the things we're going through at the moment.

Were talking about Liddel the other one sort of like Aldi spelt differently Germany coming, and I understand that that's almost on hold because of the things we're going through at the moment.

There have been retailers in the US that haven't transferred as well to Australia. I mean, I'm thinking Starbucks is another one that is everywhere in the US but kind of didn't work in Australia, and Starbucks certainly didn't work in parts of Europe as well, Italy, those sorts of places. What is it, I suppose that makes Walmart so successful in the US, but not necessarily mean, you've given us a few examples where it hasn't done so well. What is it that makes it so successful in the US. Is it basically low prices, But then presumably Amazon means that's not enough anymore.

There have been retailers in the US that haven't transferred as well to Australia. I mean, I'm thinking Starbucks is another one that is everywhere in the US but kind of didn't work in Australia, and Starbucks certainly didn't work in parts of Europe as well, Italy, those sorts of places. What is it, I suppose that makes Walmart so successful in the US, but not necessarily mean, you've given us a few examples where it hasn't done so well. What is it that makes it so successful in the US. Is it basically low prices, But then presumably Amazon means that's not enough anymore.

Well, I think there's another side to Walmart, and I don't think lower prices is enough, and I don't think lower prices is their reason for being. They've got incredible culture, and they've got really progressive ideas on minimum wage and also employee benefit. So everything that they do, probably other stores in America go no, no, not you again. So in Tuesday fifteen, they raised the minimum wage to nine dollars an hour. Now this's kept going. Twenty sixteen, they raised their average wage or the ali rage two about thirteen and a half dollars, and everybody complained about that. But they have other secrets for their associates. They every year, they have about one hundred and sixty associates, and they're promoted to jobs with higher pay, and they've also been provided with extra benefits like you know, maternity and parental year. And of course all these measures make their staff happy to come to work. And if they're happy to come to work, they're going to smile, they're going to be loyal. And I think that's really something that nobody else can really copy. I think that's their competitive advantage, and I think they're part of, you know, why they're so successful.

Well, I think there's another side to Walmart, and I don't think lower prices is enough, and I don't think lower prices is their reason for being. They've got incredible culture, and they've got really progressive ideas on minimum wage and also employee benefit. So everything that they do, probably other stores in America go no, no, not you again. So in Tuesday fifteen, they raised the minimum wage to nine dollars an hour. Now this's kept going. Twenty sixteen, they raised their average wage or the ali rage two about thirteen and a half dollars, and everybody complained about that. But they have other secrets for their associates. They every year, they have about one hundred and sixty associates, and they're promoted to jobs with higher pay, and they've also been provided with extra benefits like you know, maternity and parental year. And of course all these measures make their staff happy to come to work. And if they're happy to come to work, they're going to smile, they're going to be loyal. And I think that's really something that nobody else can really copy. I think that's their competitive advantage, and I think they're part of, you know, why they're so successful.

They've also been quite progressive and climate change and some of those things too.

They've also been quite progressive and climate change and some of those things too.

I think, oh, absolutely, they've made some big commitments. As you know, some examples are and don't try and keep this short. They've contributed eighteen million dollars and two and a half thousand trucks of suppliers to the victims of hurricanes Katrina and Rita in two thousand and five. They then went on to commit two billion dollars between twenty ten and twenty and fifteen to help in hunger in the US. You know, this is not retail to speak, this is completely different. So they also launched a global commitment to sustainable agriculture. Okay, they've asked their suppliers to help reduce greenhouse gas emissions from their supply chain. Okay, And they are all examples of them being you know, agile and moving quickly as time change. But one of the things that I remember the publicity in twenty thirteen when they announced that they would hire any honorably discharged veteran within their first year after active duty. So there's a lot of things that they are doing that no other big retailer is doing, and as I said before, I think that gives them a competitive advantage.

I think, oh, absolutely, they've made some big commitments. As you know, some examples are and don't try and keep this short. They've contributed eighteen million dollars and two and a half thousand trucks of suppliers to the victims of hurricanes Katrina and Rita in two thousand and five. They then went on to commit two billion dollars between twenty ten and twenty and fifteen to help in hunger in the US. You know, this is not retail to speak, this is completely different. So they also launched a global commitment to sustainable agriculture. Okay, they've asked their suppliers to help reduce greenhouse gas emissions from their supply chain. Okay, And they are all examples of them being you know, agile and moving quickly as time change. But one of the things that I remember the publicity in twenty thirteen when they announced that they would hire any honorably discharged veteran within their first year after active duty. So there's a lot of things that they are doing that no other big retailer is doing, and as I said before, I think that gives them a competitive advantage.

We'll be back in a minute talking to doctor Kathleen Adams, marketing lecturer at r MIT. Now the flip side, and when I lived in the US, there was a lot of debate over the pressure they put on suppliers though, so they have been criticized over time because there's such a big company. If you want to be successful, you've got to be in Walmart. But if you're in Walmart, they then start to screw you after a couple of years. That was the argument. Anyway, What do you think about that idea?

We'll be back in a minute talking to doctor Kathleen Adams, marketing lecturer at r MIT. Now the flip side, and when I lived in the US, there was a lot of debate over the pressure they put on suppliers though, so they have been criticized over time because there's such a big company. If you want to be successful, you've got to be in Walmart. But if you're in Walmart, they then start to screw you after a couple of years. That was the argument. Anyway, What do you think about that idea?

Absolutely? I think having worked in the retail industry for so long myself and for big ones, big companies like Meyer and din Maru and smaller companies like Jackie Yee, I do remember about just what you're saying about starting off with certain prices and then every year the suppliers have to sell them for usually cheaper, and we all know that the cost of living doesn't stand still, so it really meant a big reduction for those suppliers. But you know, they have to do it because if they don't do it, they'll be chucked out of the store like Walmart. And so if they've put all their eggs in one basket, then that you know, destroys them as a supply pretty much. And so yeah, they have to just keep on agreeing to these low prices a bit of negotiation, but probably not much.

Absolutely? I think having worked in the retail industry for so long myself and for big ones, big companies like Meyer and din Maru and smaller companies like Jackie Yee, I do remember about just what you're saying about starting off with certain prices and then every year the suppliers have to sell them for usually cheaper, and we all know that the cost of living doesn't stand still, so it really meant a big reduction for those suppliers. But you know, they have to do it because if they don't do it, they'll be chucked out of the store like Walmart. And so if they've put all their eggs in one basket, then that you know, destroys them as a supply pretty much. And so yeah, they have to just keep on agreeing to these low prices a bit of negotiation, but probably not much.

Yeah, fair enough, So what next to Walmart. Can it keep growing or sort of does it? Is it saturated the market? What do you think?

Yeah, fair enough, So what next to Walmart. Can it keep growing or sort of does it? Is it saturated the market? What do you think?

I think they're going to keep growing, but maybe more so in its American stores. Okay. They stay on top of the latest tech systems. That's the amazing part about them. They're continually looking for the latest tech. They are continually looking for more online help, and when they move to another country, they basically buy a tech store. They stay on top of that. But the big one is that they continually look after and promote their excellent associates each year. And because they've increased that minimum wage, as I said before, they've got loyal employees and they'll give excellent service, Like they have a greater at the front, which we do have in Kmart or Target, but they get the trolley out for you, They basically get you organized, and they look after the more elderly customers very well. So they've got this loyal employees and they provide this excellent service. So I think I can't almost say that Walmart in the US is probably one of the happiest places to work.

I think they're going to keep growing, but maybe more so in its American stores. Okay. They stay on top of the latest tech systems. That's the amazing part about them. They're continually looking for the latest tech. They are continually looking for more online help, and when they move to another country, they basically buy a tech store. They stay on top of that. But the big one is that they continually look after and promote their excellent associates each year. And because they've increased that minimum wage, as I said before, they've got loyal employees and they'll give excellent service, Like they have a greater at the front, which we do have in Kmart or Target, but they get the trolley out for you, They basically get you organized, and they look after the more elderly customers very well. So they've got this loyal employees and they provide this excellent service. So I think I can't almost say that Walmart in the US is probably one of the happiest places to work.

Fantastic, Kathleen, Thanks for talking to Fear and Greed.

Fantastic, Kathleen, Thanks for talking to Fear and Greed.

You're very welcome. I hope you've enjoyed finding out some more about Walmart. I certainly enjoyed talking.

You're very welcome. I hope you've enjoyed finding out some more about Walmart. I certainly enjoyed talking.

To you, sure have. That was doctor Kathleen Adams, a lecturer in marketing at ro MIT. This is a Fear and Greed daily interview. You join me every morning for the full Fear and Greed podcast with all the business news you need to know. I'm Joan Almer. Enjoy your day,

To you, sure have. That was doctor Kathleen Adams, a lecturer in marketing at ro MIT. This is a Fear and Greed daily interview. You join me every morning for the full Fear and Greed podcast with all the business news you need to know. I'm Joan Almer. Enjoy your day,