walmart adventure in japan
TRANSCRIPT
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WAL-MART S ADVENTURE IN JAPAN:You Cant Please All Of The People All Of The Time
Presented By:Gaurav MittalVarun Shanker
Ravi Bhakt
DoMS NIT TRICHY
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Wal-Mart Philosophy
Rule # 1: The customer is always right
Rule # 2:If the customer happens to be
wrong, refer to Rule # 1
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Wal-Mart a snapshot
Wal-Mart is the largest private employer andthe largest grocery retailer in the UnitedStatesThe world's largest public corporation byrevenue, according to the 2008 Fortune Global500Revenue > US$ 404.16 Billion ( 2009 )Operates in 18 countries
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Japanese Culture
Companies supported society by providing good jobs with lifetimeguarantees of employment.Japanese companies tended to be viewed as job-creating machines
Jobs cuts are viewed as detrimental to Japanese societyJapanese media is more emotional than its American counterpartsShopping is spread throug-oht the week, and is often done bybicycle or on foot
Consumers wanted to see the details in print to compare (Chirasi )yasukarou, warukarou if it s cheap, it s bad
Great Taste for ShashimiFood in Japan changes with the seasons
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Abstract
Wal-Mart expansion plan in JapanIts struggle with the retail corporation Seiyu
The mistakes committed by Wal-Mart inunderstanding the Japanese MarketThe steps taken by the retailer to please theJapanese customers
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Mistakes
Failed to understand Japanese Corporate CultureShattered company s image by Japanese Media
Lack of understanding of Japanese consumersbuying patternFailed to understand Japanese consumer s qualityperception
Failed to communicate benefits to the customers
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Mistakes (cont )
Standardization of product
Lack of financial consolidation with SeiyuFailed to introduce fashionable productsNot preferred retailer by the suppliers
Japanese consumers are very nationalistregarding the products they purchase,especially for American companies
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Solutions
To make shopping memorable experienceFocus on the cost cutting measure
Through the technological involvement Change people s perception that it creates more
jobs in-directly s compared to jobs cuts at store
Better communication strategy Low price vs. quality Re-branding exercise
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New store format Smaller store size with multiple
location Better visual merchandising Increase in product range,
especially the foreign goods
New pricing strategy Differentiating between Luxurious
goods and food products
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Supply Chain Re-engineering More emphasis on seasonal products
Decentralize strategy for local and seasonal goodsBackward supplier integration
Becoming the preferred retailer Removing the multiple layer
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CSR initiative Helped for visually impaired
persons Earthquake relief funds and
activities Investment in renewable energy Social environmental
awareness(Go-Green ) programsto build image
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THANK YOU