International strategy: Walmart company
Introduction
The United States of America is known to be one of the leading countries in business, hosting the largest and most productive companies worldwide. Over the years, it has supplied products and services to many countries worldwide, making nations reliable to their items. Walmart is a retail company in the USA, which has the highest revenue count since 2014. It has its headquarters in Bentonville, Arkansas. Sam Walton started the company in 1962 and currently has its branches in more than 50 continents, including China, with more than two million employees worldwide. It mainly deals with electronics, clothing, movies, households, jewelry, and health and beauty. With the Covid19 pandemic bringing a lot of discomfort in the business world, Walmart needs to come up with various international strategies to recover losses acquired during the pandemic time after the situation is over.
Effects of Covid19 in the USA and Walmart Company.
The USA has been dramatically affected by the Covid19 pandemic in the health and economic sector. The country records the highest number of Covid19 cases and seems to draw most of its attention to deal with the epidemic and acquiring losses in its business sector. Walmart company appears to be doing well in this tough time with its products, such as grocery and food items being at its highest demand. There are, however, some disadvantages that the company is facing. Customers now need to receive their orders online or at the doorstep. The company has to stretch further financially to give transport to the goods and ensure their customers feel secure even when they do not have to pick up their products themselves. They also have to employ more people and drop their regular prices to allow customers to manage their budget even in the pandemic. Though the company’s products are of high demand, some items like clothing and households seem to have a drop in their order rate. Walmart stalls with such things are counting losses during the pandemic and strategies to bring their business back to their feet after the disease should be implemented.
Products the firm should sell after the pandemic.
After the pandemic is over, there are possibilities that companies will have a lot of competition, especially in clothing and households. Walmart company needs to increase its manufacture of non-perishable goods to ensure that they have enough products to supply after the epidemic is over.
Multidomestic strategy
When the pandemic slows down, governments seem first to release people from their houses, but still be reluctant to open the country boundaries. With Walmart having many branches worldwide, it will have an opportunity to sell its products to the people without trying to cross borders giving it an upper hand among other companies.
Global strategies
Governments in countries affected by the disease need a lot of food supply and other essential needs for its people after the crisis. Their companies will be counting losses and having few raw materials to run their industries. Walmart should strategize and make contracts with such countries to supply them with some of these needs before their companies get back to their feet. By doing this, Walmart will acquire a lot of finances, which they will use to pull themselves up and still be far much ahead of other industries in the world.
Conclusion
In conclusion, the Walmart company has chances to uplift itself even after the pandemic is over. It has the ability and advantage to compete with other countries since it has many branches worldwide and a variety of products which they can supply during and after the pandemic effectively.
References
May 4, 2020. Can Walmart Reach An All Time High When The COVID19 Crisis Ends? https://www.google.com.forbes.com/sites/greatspeculations2020/05/04/can-walmart-reach-all-time-high-when-the-covid-19-crisis-ends/amp/
May 5, 2020. Where It’s Going: Walmart’s $25 Million COVID-19 Commitment. https://corporate.walmart.com/newsroom/2020/05/05/where-its-going-walmarts-25-million-covid-19-commitment