Walmart is obsessed with New York City.
It can't crack city lines, but it's determined to continue the battle it has been fighting for years. Walmart has serious opposition in NYC, mostly from unions and politicians who say that the entry of the world's largest retailer would annihilate local businesses.
So, why doesn't Walmart — which rakes in more than $400 billion in global sales — just give up?
Brian Sozzi, an analyst at NBG Productions, explains:
- They view it as ludicrous that Target and Costco can dance in this highly populated, globally diverse playground and they can't
- They are still unable to comprehend why they are being perceived as job destroyers instead of creators that offer lower prices in a high unemployment rate backdrop
- They are determined to close "food deserts" in cities by opening smaller format stores, and they have the the resources to make this happen throughout the U.S. and in NYC
"Ultimately they are concerned about being shut out of a major market by others opening up neighborhood markets, which gives these rivals a head start in brand awareness and bringing online services to cities," says Sozzi.
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