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Need to buy a hookah link Source global Wall Street Journal     time 2021-09-27 20:57:17
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"Until Dad was in his mid-sixties, I really had to struggle to keep up with him. I thought I was in prettygood shape, but my tendency is to kind of walk along, take it easy, and enjoy the outdoors. I'd look up,and Dad would be out of sight. He hunted like Sherman marched through Georgia."When I asked permission to hunt, I always introduced myself as Sam Walton of Sam Walton's varietystore down on the square in Bentonville, and I found that it really helped my business. When these farmfolks would come to town to shop, they'd naturally do business with that fellow who hunted their landand brought them candy. I still meet folks today who tell me their father recalls me coming out to hunttheir land in those days. As we began to expand, and I flew around more, I would throw the dogs in theplane with me so I could hunt between store visits.

Here's the simple lesson we learnedwhich others were learning at the same time and which eventuallychanged the way retailers sell and customers buy all across America: say I bought an item for 80 cents. Ifound that by pricing it at .00 I could sell three times more of it than by pricing it at .20. I mightmake only half the profit per item, but because I was selling three times as many, the overall profit wasmuch greater. Simple enough. But this is really the essence of discounting: by cutting your price, you canboost your sales to a point where you earn far more at the cheaper retail price than you would have byselling the item at the higher price. In retailer language, you can lower your markup but earn morebecause of the increased volume.

Then I want to dedicate it to all my partnersand I wish I could recognize every one of you individually,but we've talked over the years and you know how I feel about youand to all 400,000 of myassociate-partners who've made this wild, wild Wal-Mart ride so much fun and so special. Much of thisbook is really your story.


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