If you were to take a look around, you are likely to find a lot of retail megastores out there. But, there are 3 megastores in the world today that certainly stand out, and are amongst the most well-known brands out there. We keep hearing about them all the time, even if these retail megastores have not yet arrived in your country. So, which stores am I talking about? Lets’ find out…
It is the undisputed king amongst retail megastores and has a global presence. According to Wikipedia [http://en.wikipedia.org/wiki/Walmart], “Wal-Mart Stores, Inc. (NYSE: WMT), branded as Walmart since 2008 and Wal*Mart before then, is an American multinational retailer corporation that runs chains of large discount department stores and warehouse stores. The company is the world’s third largest public corporation, according to the Fortune Global 500 list in 2012.”
Founded by Sam Wilton in 1962, the company today boasts of an impressive 8,500 stores across 15 countries, making it the biggest private employer in the world with over two million employees, and is the largest retailer in the world. You can literally find anything under the sun in this retail megastore, as the store sells everything from safety pins to cars. No wonder, today it is the world’s third largest public corporation, which in the year 2009, generated 51% of its revenue of around $258 billion in the US by selling grocery alone.
Considered to be the second largest chain of megastores after Walmart, the company is run by target corporations. Target came into existence way back in 1902, and was known as Dayton dry goods then. The first store opened up in Roseville, Minnesota in 1962. After which, the company started growing at a rapid pace and soon ended up being the biggest success story for the “Dayton Hudson Corporation” which later renamed it to “Target corporation”
The company today operates at multiple locations and also runs an online store where people can buy all kinds of stuff like kitchenware, electronic appliances, furniture etc. at heavily discounted rates.
Number 3 on the list, Kmart is said to be the third largest chain of discount stores in the world and is extremely popular with people. When Kmart took over Sears in 2005, they came up with a new corporation called “Sears Holding Corporation.” The company today runs an impressive 1,307 stores in the US, Puerto Rico, the US Virgin Islands and Guam.
Retail megastores have changed the way people shop and have been able to provide more value for money by offering heavy discounts on products. And with many more people getting inclined to shop at these retail megastores, the competition is set to increase even more, paving the way for brand new competitors to enter the arena, and step up the game even further.