Question

Activity

Research the consumer services industries in United States. Choose any one of the consumer
services companies and write an essay of about 500 words on how a diverse economy such
as the United States can satisfy the needs of its consumers. Consider different cultures and
languages, services offered to lower socioeconomic populations, or services offered to
disabled consumers or women. Also analyze the challenges faced by the consumer service
industry.

Answer 1

While Walmart started out as just one store, it has grown to operate 4,756 stores in the United States and 11,501 stores globally as of the start of 2020. Walmart has adapted to the United States Diverse economy by catering to different ethnic groups based on the location. For example, Walmart will offer a lot more St. Patrick themed stuff in a rich Irish community compared to one that barely celebrates the holiday at all. Also, Walmart will offer more Mexican food in southern California than South Dakota. This has helped Walmart to connect with each community and grow with them over the years. Walmart has also worked to help the elderly and disable. One way Walmart does this is by offering motorized carts so that disabled and older people don’t have to walk around the big store to get their items. They also offer many handicap parking spots close to the entrance of the store. For women, Walmart offers baby changing tables in the restrooms. Walmart also looks to help women through their Women's Economic Empowerment program (WEE). Through this initiative, they have worked to train more than1 million women who work in farms, factories, and in retail around the globe. This helps to lift their whole community because when women have a dependable income, they will usually invest 90% of it back into their family and community. Walmart also takes pride in offering benefits to US army veterans and by providing jobs to women with low-income backgrounds. They also offer jobs to the disabled.

While Walmart is diverse by offering products that range from furniture, food, clothing, automotive, and electronics, they still face many growing problems. For instance, competing stores like Aldi and Costco have the ability to decrease their share of the consumer market. They do this by offering lower prices and a more convenient shopping experience. A slowing economy can also cut the profits of the company. But this year, form the start of the pandemic to the end of 2020, Walmart has seen their stock market price rise 36%. This is because the government has labeled Walmart an essential business and therefore, they did not have to close their stores during the lockdowns. But physical stores like Walmart face an even bigger threat from online rivals like eBay and Amazon. Throughout the same time period as Walmart, Amazon saw their stock price soar 70%. The pandemic has helped online retailers because they can usually offer free shipping right to your house. Walmart and other stores have tried to combat this by offering online ordering and curbside pickup. But as anyone can see, it's still not as easy as having it delivered right to your house. One of the few reasons holding online retailers back from total domination is shipping time. When Online retailers are able to get orders to people on the same day from anywhere, they will be unstoppable. Until then, Walmart and other brick and mortar stores will be able to hold on.

Step-by-step explanation:

Made the essay 500 words

Answer 2

Let's take the example of Walmart, which has the large presence in the United States and is an important part of the Consumer Services Industry.

Walmart began with just one store but has grown all over the country to many unique aspects of the American economy and demographics. The United States, in contrast to what many people assume, is a very diverse country.

The culture of New England is very different from that of the Bible belt. Similarly, the African American culture of Georgia is different from the casual California where there is a vast Hispanic population.

Walmart saw an opportunity in this diversity and has grown by catering to needs of all these consumers. Communities with highly dense Hispanic population stocked food items that were very different than can be found in Jewish neighbourhoods and vice verse.

This enabled Walmart to connect with each community and grow with them over the generations.

In all this, Walmart prides itself in providing benefits to US army veterans and provides jobs to women from low-income backgrounds and the disabled.

In all this, Walmart does face a number of different challenges, including:

• A slowing economy can hit the profits of the company

• Competition from other companies such as Costco and even international players like Aldi and Lidl can decrease their market share

• Online rivals such as Amazon have long been identified as a threat to the company and is one of the biggest challenges facing the consumer service industry.

• Companies like Amazon are not only involved in retail but also in selling movies, music, etc that can completely challenge the consumer service sector