Eco-entrepreneur, Entrepreneur, Green Business, Start-up business, Sustainable Business

Book of the Month

Images_64 Today, November 25 marks the 25th day that I have been down with a bug of some sort. These US germs are fierce. They lock in on fresh meat and just won’t quit. I am drowning in EmergenC’s and lemon tea. So while down and out I managed to finish The Wal Mart Effect by Charles Fishman. Unlike Fox News’ version of “Fair and Balanced” Mr Fishman actually does give Wal Mart a fair trial. But come stumps (the end of the game) Wal- Mart comes off fairly worse for wear. While Sam Walton had a clear vision of every day low prices, with scale the impact of that strategy is felt globally and really, really badly.

My favourite stats from the book:

(1) 1.6 million women are currently suing Wal Mart – that must be a record
(2) Vendors have to provide Wal Mart a 1800 number or accept collect calls from them
(3) While Wal-Mart added 480,000 jobs between 1997 and 2004, 3.1 million manufacturing jobs were made redundant
(4) In 2003, for the first time in history there were more Americans working in retail ( 14.9 million) than in manufacturing ( 14.5 million)
(5) Same store sales data from 1998 to 2005:

Wal Mart: Fell from 9% to 3.2 %
Target: Rose from 5.3% to 6.5%

…the end of Everyday Low Prices?

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