What it all comes down to is shopper loyalty. Walmart gets shoppers because of their low prices. If Walmart knew for sure that if they paid their employees more, the shoppers would remain loyal even though this would result in higher prices, they would do it. The fact of the matter is, if Walmart prices became higher than its major competitors, many shoppers would jump ship and shop somewhere else. So, in reality, it is our greed as a society (shoppers wanting lower prices and shareholders wanting a higher return on their investment) that has created this horrible situation. Walmart is to blame, but not 100% everyone who shops for the lowest price is also responsible. So, how do we resolve this??? I would love to hear your ideas. I have some of my own, but they are impossible to accomplish with an IPO. I am going to have my own business (Thrivility) use these principles and we shall see what happens.
Posted on: Sun, 24 Nov 2013 04:21:57 +0000
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