How Does Walmart Affect The Local Economy
When the economy took a turn for the worst, everyone was looking for the best deals! One could not waste a single penny earned on just anything! Everything and anything counted! So what supermarket did everyone rely on to save money? Walmart! Walmart is the world’s largest retailer and corporation employing 2.1 million people and approximately 1 percent of the United States (Smart Planet), and usually is the place one would go to get the best deals, but is it really good for one’s local economy? There has been much controversy over the how Walmart affects not just the global economy but the local economy. One might believe that it’s good for their economy because it has the best prices for their products, and it saves people money, but this
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These small businesses are what makes this particular region stick out to the local people and guests to the area. When Walmart comes to an area it does, as said before, excites people for their low prices, but what people do not realize is that Walmart sells almost everything imaginable, and because of their purchasing power and the company being the largest retailer in the world when one buys large volumes of merchandise from a supplier the company usually gives the other company buying from them a discount. Walmart then drives out other small businesses from the area because they cannot compete with their low prices they receive from their purchasing power, and more people find that Walmart has everything to accommodate their needs, therefore they do not need to drive to more than one store for their grocery’s, car supplies, home décor, and etc. As if that is not enough, Walmart than adds usually a fast food restaurant, possibly a bank, nail or hair salon. Although with the adding of these extra business they reek extra profit from rent and then other businesses in the area go out of business because now, EVERYTHING, is in one place. So banks, hair salons, nail salons slowly leave the area with the Walmart. “Supermarkets and discount variety stores are the most adversely affected sectors, suffering sales declines of 10-40 percent after Walmart moves in. (Popular
These small businesses are what makes this particular region stick out to the local people and guests to the area. When Walmart comes to an area it does, as said before, excites people for their low prices, but what people do not realize is that Walmart sells almost everything imaginable, and because of their purchasing power and the company being the largest retailer in the world when one buys large volumes of merchandise from a supplier the company usually gives the other company buying from them a discount. Walmart then drives out other small businesses from the area because they cannot compete with their low prices they receive from their purchasing power, and more people find that Walmart has everything to accommodate their needs, therefore they do not need to drive to more than one store for their grocery’s, car supplies, home décor, and etc. As if that is not enough, Walmart than adds usually a fast food restaurant, possibly a bank, nail or hair salon. Although with the adding of these extra business they reek extra profit from rent and then other businesses in the area go out of business because now, EVERYTHING, is in one place. So banks, hair salons, nail salons slowly leave the area with the Walmart. “Supermarkets and discount variety stores are the most adversely affected sectors, suffering sales declines of 10-40 percent after Walmart moves in. (Popular