People throughout the globe have a positive attitude towards this discounted chain retail store which has built their brand name with trust for quality products at a lower price. The retail industry being capital intensive, brought a lot of foreign and domestic investors to the limelight during globalization. There was an increase in investments, business opportunities, and the revenue of nations. The increase in revenue of a nation directly reflects on the increase in the standard of living of the people which increases in the liquidity and induce buying. It is a vicious circle which brings continuous effects to society.Walmart has expanded globally since the last decade and is in the process of market developments. The North American Free Trade Agreement (NAFTA) and the WTO have paved the way for Wal-Mart to become the world’s largest corporation. These agreements have enabled Wal-Mart to enter and dominate markets with its stores and for it to use those suppliers most willing to pick up, close shop, and scour the planet for the cheapest places to make products. (“Antonia”, (2005)). The introduction of Automatic Identification and Data Capture is the development of technology in the retail industry. Walmart was the first in the retail industry to include the AIDC as its technology. Walmart also conducts ‘Walmart Better Living Business Plan Challenge 2009’, an opportunity for the students, entrepreneurs and the people to come out with ideas on business solutions and also for the betterment of people and nature.Walmart spends a good amount on charity and the wellbeing of their labors. They have a commitment to the product they sell. The presence of Walmart in countries generates employment opportunities and it brings overall improvement to society.The retail industry is one of the biggest and fast-growing industries in the world. There has been an increase in the number of retail stores. America has 15 million employees in the retail industry. A report of The Internal Treasury Department (2005) states retailing is one of the largest industries in the United States and accounts for approximately 10 percent of our gross national product. Retail business covers many different areas, including auto dealerships, bars, convenience stores, restaurants, gift shops, clothing stores, merchandise stores, etc.
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