The first Walmart stores were established by Sam Walton of Rogers Arkansas 1962. Walmart today is no doubt the biggest retail store in North America and considered to be the most efficiently run retail business in the world. Walmart offers a wide variety of products and goods from grocery to automotive to everything in between. They are also known for their discounted prices and convenience.
Many consumers do not look to Walmart for luxury goods such as Cartier, Prada, Coach and fine jewelry. When it comes to the more expensive, high quality goods consumers go to specialized shops to purchase these items. If Walmart offered these goods, would consumers pick them up while going for a gallon of milk? Typically no, and I think Walmart understands that. How can they reach the consumer that can, or are looking for a high priced diamond? This has to be a very tough question to answer. I would think it takes the very best marketing and advertising team the industry has to offer.
Personally, I do not think I would buy high end products from Walmart. For one, if I had the money to do so I want a professional in that product to discuss it with me. Expensive jewelry should be left to jewelers who have studied jewels. They know where the product comes from, they understand the language and can educate you on the purchase you are about to make. Would Walmart offer the professional to its consumers and keep the price lower than its competitor? I don 't think they could.
Keeping the prices lower than its competitor is still a huge advantage for Walmart, but I don 't think they could if they hired the professionals needed to sell high end goods. They may still be able to keep prices in a competitive range, but not a s...
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... cheaper products for Walmart shelves. For example televisions, like Vizio, Samsung and other brand names will sell the same TV at Walmart made from cheaper material then the same TV sold at Best Buy. This may just be a rumor, however it 's a pretty impactful rumor. Considering Walmart already is known for cheaper quality goods why wouldn 't they skimp on even brand name products. As big and powerful as Walmart is I think they may possibly be able to "wheel and deal" with many brands and how to get them cheaper.
Walmart is doing such a stellar job in the retail industry as it is, personally I think they should stay out of the high end business. When I 'm ready to buy a Michael Kors purse, Rolex, Air Jordan 's, or my next diamond I want the atmosphere that suits my purchase. Not only the atmosphere, but the expert to educate and help me feel good about my purchase.
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