where did the idea of walmart come from
History of Walmart At some point Sam Walton made the decision to achieve higher sales volumes by keeping sales prices lower than his competitors by reducing his profit margin. Inspired by the successes of other discount department store chains, Walton opened the second store in Harrison, Arkansas that year. Responsible for the purchase and maintenance of signage, Walton's assistant, Bob Bogle, came up with the name "Wal-Mart" for the new chain.[2] By 1967, the company grew to 24 stores across the state of Arkansas, and had reached $12.6 million in sales, and by 1968, the company opened its first stores outside of Arkansas in Sikeston, Missouri and Claremore, Oklahoma.[3]
List of Walmart brands Products offered through the Great Value brand are often claimed to be as good as national brand offerings, but are typically sold at a lower price because of lower marketing and advertising expense. As a house or store brand, the Great Value line does not consist of goods produced by Walmart, but is a labeling system for items manufactured and packaged by a number of agricultural and food corporations, such as ConAgra,[citation needed] and Sara Lee[citation needed] which, in addition to releasing products under its own brands and exclusively for Walmart, also manufactures and brands foods for a variety of other chain stores. Often, this labeling system, to the dismay of consumers, does not list location of manufacture of the product. Wal-Mart contends that all Great Value products are produced in the United States.[citation needed] Otherwise, the country of origin would be listed.