So, I have been inspired again so I have a little case study. Well, I guess that I can say that I am lucky to have never lived in a community where there is a Wal-Mart. I have been spending some time down in Oxford, OH and they have this new Wal-Mart Supercenter. The funny part is that when you drive from the downtown area to the Wal-Mart there are several closed down storefronts. An industry analyst, Retail Forward, predicted in Business Week (10/16/2003) that for every new Supercenter that Wal-Mart opens, two local supermarkets will close. This doesn't include pharmacies, hardware stores and other local businesses. It also doesn't include the ugly hulk of a building that was formally a Wal-Mart in Oxford, OH. I just guess it wasn't big enough.
I know it's cheaper, but I am one of those people who will spend a little extra money to make my community a little bit better. It is funny that Wal-Mart's founder said, "Something must be done by all of us in the retailing and manufacturing areas to reverse this serious threat of overseas imports to our free enterprise system… Our company is firmly committed to the philosophy by buying everything possible from suppliers who manufacture their products in the United States."” and the current CEO recently purchased a Lexus hybrid because "I just hate dependence on foreign oil." (I will give him props for driving a hybrid though.) when 70% of the merchandise comes from China which would make Wal-Mart China's 8th largest trading partner...if it were an independent nation.
Speaking of Wal-Mart being an independent nation, it would be the 14th largest financially, just ahead of Sweden . And some people find California being the 5th largest economy being odd...
Yet another study shows that local businesses spend 53% of their revenues within the community that it resides. This contrasts greatly to the 14% of revenues from a large store like Wal-Mart. So basically each large store you have in your community, you arfunnelingng even more money to some other place.
Most of this information comes from
Walmartwatch.com.
And Oxford is a nice little town including the beautiful campus of Miami University. *sigh* I do feel better now.