Walmart Downsizes To Become A Friendly Neighborhood Market
Retail giant Walmart wants to be known as your friendly, local grocer by expanding with smaller stores.
Walmart is a retail giant in the U.S. that is well-known for selling personal goods and appliances. Some of its stores can stretch up to a massive 150,000 square feet, which is nearly the size of three football fields. However, this is about to change as Walmart intends to boosts its Neighborhood Market stores across the country.
The Neighborhood Market store is only 27,000 square feet, much smaller compared to the average Walmart size. The focus will be on groceries rather than goods. In a regular Walmart, groceries only account for a third of products sold. In a Walmart Neighborhood Market, groceries will take up three-quarters of the space.
Neighborhood Markets were first introduced in 1998 and now have 155 stores nationwide. Walmart plans to roll out 300 more by 2013. Recently, Walmart opened a Neighborhood Market in Chicago and it has gained positive feedback from the community. The appearance of the store is much friendlier with a warm coat of paint (as opposed to the bold blue) and the inside of the store is more open spaced.
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