Walmart is the largest retailer of consumer staples products in the world. It was founded by Sam Walton in 1962, who started with the idea of a store that would offer its customers the lowest prices in the market. Walmart was incorporated in 1969 following the success of Walton’s ‘everyday low prices’ pricing strategy. It currently operates in 27 countries around the world. The company drives growth by expansion in its retail area and investments in e-commerce. Nonetheless, it has underperformed its competitor, Costco over the last few years due to the Costco’s better customer service record. Walmart has lost customers to Costco over the years, primarily because it doesn’t pay its employees well, which has led to demotivation in the workforce and poor customer service.