Walmart Watch Thread

[Yuwipi Woman]

There's an "Amazon Watch Thread" so I thought I'd start a "Walmart Watch Thread" because they're at least as destructive as Amazon. Walmart was the first to develop some of the practices that Amazon implemented, such as outsourcing production and dismantling communities. When I was younger. I recall seeing main streets in rural areas lined with local businesses--drug stores, small department stores, hardware and variety stores, even a diner and a candy store or two. All that ended, as jobs in manufacturing went away in rural areas and Walmart moved in to undercut all of the local business. All Amazon did was to displace Walmart in the same way Walmart displaced small businesses. It left entire communities unable to afford necessities, much of which they can only purchase from Walmart or Amazon. And the younger generation, correctly seeing that there's no way to survive, leave for the cities.

So I was a bit dismayed to see that Walmart, having fallen on hard times is planning on closing many of these stores and/or raising prices. That will leave many rural areas without any retail or non-farm employment, or even a place to fill prescriptions. Walmart has created the seeds of their own destruction, when no one can afford to buy things from them and steal it instead:

Walmart’s CEO is warning that shoppers could encounter higher prices or possibly see stores shuttered if the growing problem of shoplifting does not subside.

“Theft is an issue. It is higher than what it has historically been,” Doug McMillon told CNBC’s Squawk Box Tuesday. “If that’s not corrected over time, prices will be higher, and/or stores will close.”

Target says shoplifting has jumped roughly 50%, resulting in more than $400 million in losses this fiscal year.

“This is an industry-wide problem that is often driven by criminal networks,” Target CFO Michael Fiddelke told investors on an earnings call.

https://ktla.com/news/money-smart/walmart-could-raise-prices-close-stores-if-shoplifting-surge-continues-ceo-says/

I take what their CEO said with a grain of salt. He's trying to explain lowered earning to his shareholders, and he certainly wouldn't blame Walmart's business model for being unsustainable. Some of its probably politically motivated as well. However, Walmart does seem to be in a bit of trouble as shoppers walk away. The disposable income of the majority of people has been dropping for years. while rates of drug use, suicide, and other diseases of despair rise.

And I didn't even cover the number of mass shootings at Walmart stores happening. Where I live, the police just inhabit the area waiting for their next call and operate as defacto store security.

 

[farmerbarleymow]

When I was younger. I recall seeing main streets in rural areas lined with local businesses--drug stores, small department stores, hardware and variety stores, even a diner and a candy store or two.

Similar in the UK - remember lots of little shops that have long gone sadly. In the little row of shops in the middle of the neighbouring estate there was a butcher, greengrocer and haberdasher - all long gone.

 

[Yuwipi Woman]

Similar in the UK - remember lots of little shops that have long gone sadly. In the little row of shops in the middle of the neighbouring estate there was a butcher, greengrocer and haberdasher - all long gone.

Yes, it's happened worldwide.

Part of Walmart's business model has been to move into a rural area and lower prices until they've captured the retail market and run the locally owned business out. Then, they raise prices.

 

[Maltin]

While these message boards are international, it's mostly focused on the UK and while Amazon is used a lot in the UK, Walmart isn't, so imagine that this thread might not be that active. Walmart did own a UK supermarket chain for a while, Asda, but no longer do.

 

[Yuwipi Woman]

While these message boards are international, it's mostly focused on the UK and while Amazon is used a lot in the UK, Walmart isn't, so imagine that this thread might not be that active. Walmart did own a UK supermarket chain for a while, Asda, but no longer do.

A lot of Walmart business strategies are those other retailers are also finding profitable, such as outsourcing production, lowering wages below subsistence levels, just in time delivery of goods, using information technology to cut the bottom line down to the smallest fraction, making customers do things that employees once did, and integrating robots into their workflow. Its not just Walmart.

 

[Dystopiary]

Walmart owned Asda for a while.

 

[frogwoman]

I thought it still did?

 

[Maltin]

I thought it still did?

No, these brothers from Blackburn bought it early last year. Apparently there is still a relationship between Asda and Walmart.

Issa brothers and TDR Capital complete purchase of Asda

The Issa brothers and TDR Capital have completed a £6.8 billion purchase of supermarket chain Asda.

www.standard.co.uk

 

[quiet guy]

Yes, it's happened worldwide.

Part of Walmart's business model has been to move into a rural area and lower prices until they've captured the retail market and run the locally owned business out. Then, they raise prices.

If you can't buy them out then undercut them until they close.

 

[Maltin]

Mad congresswoman complaining (justifiably if true) about Walmart selling dildos next to kid’s toothbrushes.

 

[danny la rouge]

Mad congresswoman complaining (justifiably if true) about Walmart selling dildos next to kid’s toothbrushes.

I mean, I suppose toothbrushes do come under the general heading of “grooming”.

 

[Yuwipi Woman]

Mad congresswoman complaining (justifiably if true) about Walmart selling dildos next to kid’s toothbrushes.

She has a bad track record for the truth so I would really need to find the original photo and see the context. I do see them listed on their website so they do sell them. That's enough for some people to object to on its own.

 

[petee]

Walmart claims low prices require long prison terms

Walmart CEO Doug McMillon announced during an interview on CNBC last week that the retailer may have to raise prices or close stores due to insufficiently aggressive prosecution of retail theft. McMillon claimed that, as a result of lenient sentences, theft at Walmart is “higher than what it has...

popular.info

Publicly available data also contradicts McMillon’s claims. As Popular Information previously reported, the number of shoplifting offenses dropped 46 percent between 2019 and 2021, according to the FBI’s crime data explorer.

petty theft is up (i've seen it myself) but it's up from historic lows. this is part of the rightwing talking point that CRIME IS OUT OF CONTROL UNDER BIDEN WE NEED A REAL MAN LIKE TRUMP (a criminal himself) though it was the bugbear deBlasio who oversaw the lowest crime rates in NYC history, e.g.

'scuse, i tend to get a little bent out of shape about this.

 

[Yuwipi Woman]

Walmart claims low prices require long prison terms

Walmart CEO Doug McMillon announced during an interview on CNBC last week that the retailer may have to raise prices or close stores due to insufficiently aggressive prosecution of retail theft. McMillon claimed that, as a result of lenient sentences, theft at Walmart is “higher than what it has...

popular.info

Publicly available data also contradicts McMillon’s claims. As Popular Information previously reported, the number of shoplifting offenses dropped 46 percent between 2019 and 2021, according to the FBI’s crime data explorer.

petty theft is up (i've seen it myself) but it's up from historic lows. this is part of the rightwing talking point that CRIME IS OUT OF CONTROL UNDER BIDEN WE NEED A REAL MAN LIKE TRUMP (a criminal himself) though it was the bugbear deBlasio who oversaw the lowest crime rates in NYC history, e.g.

'scuse, i tend to get a little bent out of shape about this.

That's a good point. I did note that their "shrinkage" was listed as 1%. That's about standard for retail across the board. A lot of shrinkage comes from employee theft. Since Walmart workers are always at the bottom of retail payscales, I wouldn't be surprised if a good chunk of their shrinkage comes from employees making up the difference.

 

[petee]

del.