Sam Walton

Made in America

1. IDEA 1

   A small store started a giant

   Walton describes opening his first variety store in Newport, Arkansas, as a franchise of the Ben Franklin chain. He learned retailing by experimenting with prices and displays, laying the groundwork for Walmart.

2. IDEA 2

   Low prices brought volume

   Walton discovered that lowering prices increased sales so much that profits grew. This became the basis of discount retailing. In Walton's account, a small profit on each sale added up when many more people came to buy.

3. IDEA 3

   Small towns were overlooked

   Walton opened stores in small towns that big retailers ignored. These communities welcomed lower prices. In Walton's account, shoppers there had few choices, so a store with lower prices quickly became popular.

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