‘Difficult’ for Wal-Mart to open store here, says vice-president

OPENING a Wal-Mart store in Ireland would be very difficult, according to a senior executive of the world’s biggest retailer, which has annual sales of $256 billion and 1.5 million employees in more than 5,000 outlets.

Wal-Mart USA executive vice-president Tom Coughlin made the comment to reporters at the Bord Bia-organised Marketplace Ireland event at Croke Park in Dublin yesterday, but said he did not have direct responsibility for such developments.

Mr Coughlin said future sales growth at Wal-Mart will be driven by large regional supercentres with satellite hubs providing in-fill shopping opportunities.

He told delegates that Wal-Mart is founded on three basic beliefs; respect for the individual, customer service and a striving for excellence.

Mr Coughlin said the key to taking care of its customers is that Wal-Mart ensures that it has the goods which they are shopping for when they are shopping. As part of this approach it carries regional brands that are important to customers in different local markets.

Wal-Mart continues to work with its suppliers to find ways to reduce the cost of its goods.

In has worked with the major US meat packers to develop an “out of store” consumer-ready fresh meat package.

This arrives pre-packaged in the store ready for the customers.

It is also working hard to ensure the traceability of all the food items it carries by working with fresh suppliers to identify the farm where the item originated.

“We want to take it (traceability) down to the plant, tree or animal,” he said. Management ventures chief executive Dan O’Connor told the gathering that to succeed food retailers will have to offer the right products at the right price while demonstrating clear benefits to the consumer.