Recently, some Wall Street analysts have predicted that big box stores like Walmart will meet their demise.
Why? Not only are customers turning increasingly to online retailers or smaller, more convenient stores—which cut into the market share of big box retailers—but also because business practices like those of Walmart continually disregard the well-being of their workers, which is also bad for business.
Walmart began seeing a real problem with keeping its shelves stocked last year, as they continued to cut more and more hours from their employees’ schedules. Not only does this mean that workers continue to struggle to get enough hours and pay to make ends meet, but also that customers get angry or frustrated and turn elsewhere—which many weren’t shy about expressing on social media with photos of empty shelves, or even expired food.
Walmart workers have been talking about this issue for quite some time now, but that has not stopped America’s largest retailer from continuing to try to put profits above the well-being of the hard-working people they employ.
But Walmart’s poor business practices are backfiring. The company’s same-store sales have gone down in 12 of the past 20 quarters in U.S. stores, which is a drastic difference from their heyday.
If Walmart wants to see better business and profits, it’s time for Walmart to really listen to its employees and provide good jobs that pay decent wages.