In 1962, Sam Walton created the first Walmart in the humble town of Rogers, Arkansas — a business move that would change the retail market forever.
Walton’s business model believed discount stores could thrive in small towns, and that by offering the cheapest price possible, the resulting higher volume of sales would increase profits. Determined to market American-made products, he also sought domestic manufacturers who could provide merchandise at a low enough price to compete with foreign suppliers.
The result was so successful that Walmart began to expand outside of Arkansas and now has over 10,500 stores around the world.
– Margaret Willard, The 100 Companies