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The Wal-Mart Effect: How the World's Most Powerful Company Really Works--and HowIt's Transforming the American Economy Paperback – Dec 26 2006

by Charles Fishman (Author)
4.4 4.4 out of 5 stars 253 ratings
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"Highly readable, incisive, precise, and even elegant." —San Francisco Chronicle

"Insightful." —BusinessWeek

Wal-Mart isn’t just the world’s biggest company, it is probably the world’s most written-about. But no book until this one has managed to penetrate its wall of silence or go beyond the usual polemics to analyze its actual effects on its customers, workers, and suppliers. Drawing on unprecedented interviews with former Wal-Mart executives and a wealth of staggering data (e.g., Americans spend $36 million an hour at Wal-Mart stores, and in 2004 its growth alone was bigger than the total revenue of 469 of the Fortune 500), The Wal-Mart Effect is an intimate look at a business that is dramatically reshaping our lives.
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  1. Print length
    352 pages
  2. Language
    English
  3. Publisher
    Penguin Books
  4. Publication date
    Dec 26 2006
  5. Dimensions
    13.97 x 1.78 x 21.34 cm
  6. ISBN-10
    0143038788
  7. ISBN-13
    978-0143038788
  8. See all details
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Product description

From Publishers Weekly

Fishman shops at Wal-Mart and has obvious affection for its price-cutting, hard-nosed ethos. He also understands that the story of Wal-Mart is really the story of the transformation of the American economy over the past 20 years. He's careful to present the consumer benefits of Wal-Mart's staggering growth and to place Wal-Mart in the larger context of globalization and the rise of mega-corporations. But he also presents the case against Wal-Mart in arresting detail, and his carefully balanced approach only makes the downside of Wal-Mart's market dominance more vivid. Through interviews with former Wal-Mart insiders and current suppliers, Fishman puts readers inside the company's penny-pinching mindset and shows how Wal-Mart's mania to reduce prices has driven suppliers into bankruptcy and sent factory jobs overseas. He surveys the research on Wal-Mart's effects on local retailers, details the environmental impact of its farm-raised salmon and exposes the abuse of workers in a supplier's Bangladesh factory. In Fishman's view, the "Wal-Mart effect" is double-edged: consumers benefit from lower prices, even if they don't shop at Wal-Mart, but Wal-Mart has the power of life and death over its suppliers. Wal-Mart, he suggests, is too big to be subject to market forces or traditional rules. In the end, Fishman sees Wal-Mart as neither good nor evil, but simply a fact of modern life that can barely be comprehended, let alone controlled.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Review

"The best Wal-Mart expose yet . . . as measured by depth and breadth of research, writing style, and evenhanded treatment." —The Denver Post

"Highly readable, incisive, precise, and even elegant." —San Francisco Chronicle

"The Wal-Mart Effect is an interesting look at how big corporations affect our planet in positive and negative ways. The strength . . . is in the stories about the lives that Wal-Mart has touched, set against the backdrop of an astounding array of data." —USA Today

"Insightful." —BusinessWeek

"The Wal-Mart Effect saunters through the influential economic ‘ecosystem’ that the discount chain represents with clarity, compelling nuance, and refreshing objectivity." —The Christian Science Monitor

"A must-read if one is even to begin understanding the global dominance of Wal-Mart." —The Washington Post

Product details

  • Publisher ‏ : ‎ Penguin Books; Reprint edition (Dec 26 2006)
  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 352 pages
  • ISBN-10 ‏ : ‎ 0143038788
  • ISBN-13 ‏ : ‎ 978-0143038788
  • Item weight ‏ : ‎ 0.68 g
  • Dimensions ‏ : ‎ 13.97 x 1.78 x 21.34 cm
  • Customer Reviews:
    4.4 4.4 out of 5 stars 253 ratings

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Charles Fishman

Charles Fishman

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Customer reviews

4.4 out of 5 stars
4.4 out of 5
253 global ratings

Top reviews from Canada

Pete Muileboom
5.0 out of 5 stars Grower
Reviewed in Canada on November 10, 2023
Verified Purchase
A real eye opener !!!
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sylvaingibson
5.0 out of 5 stars i think the writer have been paid by wallmart to ...
Reviewed in Canada on June 16, 2016
Verified Purchase
I changed my review cause i think this book point out lots of bad things about Wallmart and thats what i was expected. A few chapter paint a nice picture of them but these chapter are not very interesting. The fact is you can't built a good business is you enslave people a make lots of people loose there jobs and work for nothing. Wallmart is the best exemple of a business that should have never existed unless its doing fair business witch is not.
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bissan hazem
5.0 out of 5 stars Good read
Reviewed in Canada on August 5, 2020
Verified Purchase
Rich in details about how Wal-Mart work and come to existence. Recommended to buy and read.
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jennifer sulzer
4.0 out of 5 stars A Little Glitch.
Reviewed in Canada on January 2, 2011
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I have been ordering from Amazon for about a year and everything has always been
great. The products have been received on time, as described and the prices are
reasonable or better. This order was not going through as normal, and Amazon
got in touch with me and I did as they said and I got my order on the delivery
time stated, as described and a reasonable price. I can't say enough about the
Amazing service from Amazon.
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Natasha Cooper
5.0 out of 5 stars Informative and Interesting
Reviewed in Canada on April 23, 2014
Verified Purchase
I found this book to be much more interesting than expected. It's informative, with a lot of the information and arguments put forth being original to the author, at least at the time of publishing. It is well written and easy to read. I recommend the version of the book with the new introduction by the author.
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Sam Bremang
5.0 out of 5 stars Great book on so many levels
Reviewed in Canada on March 3, 2013
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I may be biased because I had the opportunity to have a Q&A session with the author in my MBA class. Either way it is an in depth and insightful look at one of the most influential companies in history.
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Len
5.0 out of 5 stars A fascinating look at the impact a megacorporation has had on the lives of everyone it touche
Reviewed in Canada on March 21, 2013
Mr. Fishman has written a very focused book that explores the “Wallmart Effect” to the consumer, the supplier and society in general. For the consumer, Wallmart has been an effective bargainer getting the best prices for the consumer that money can buy. As a consequence, consumers have been able to buy more stuff at cheaper prices. An interesting story is used to illustrate the consumer accumulation of stuff as observed by the Haines underwear company. With a drop in price of boxers, y-fronts and panties, the company thought the consumer would save their money to spend on other items. They’ve observed the opposite. Consumers spent as much money on their underclothes as they had done previously at the higher prices. They were simply purchasing more of them to the extent that Haine's marketing specialists couldn’t figure out what consumers were doing with all that underwear. They couldn't possibly wear it all. My daughter purchased enough underwear to only have to do laundry once a month but how many of us want to do that? For suppliers, Wallmart can be their best friend and their worst enemy. Suppliers are squeezed to sell their products at the very cheapest price often to the detriment of the quality of that product and the sustainability of their company. The Levi name was added the list of products offered by Wallmart only to be forced to sell an inferior product under their name. The “Snapper” company ended their relationship with Wallmart because they didn’t want an inferior lawnmower sold at that store to be mistaken for the more expensive version sold elsewhere. The impact of Wallmart on the towns and small communities where it’s introduced is also explored. Initially, a rise in employment is observed followed by a drop as the local stores are forced out of business and those employees lose their jobs. After an initial adjustment period, employment levels in those areas return to pre-Wallmart levels a slight rise in the level of poverty. “The Wallmart Effect” is slightly dated offering insights that have already become widely understood since its publication. Nevertheless, this is a fascinating look at the impact a megacorporation has had on the lives of everyone it touches.
One person found this helpful
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L. Chandramohan
5.0 out of 5 stars Best Work on Wal-Mart available today
Reviewed in Canada on October 11, 2009
Want a non-biased point of view on everything Wal-Mart? Then this book is it. The story and impact of Wal-Mart is presented from different points of view; those who see Wal-Mart as a good and those who see it as a bad for the local and national economy. Supported by various, insightful examples, the book is also very well written and has well annotated source notes. The book was also shortlisted for the FT/ Goldman Sachs Business Book of the Year award. Recommended read for any who are interested in Wal-Mart and its effects.
4 people found this helpful
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Top reviews from other countries

Kedar Jois
1.0 out of 5 stars Complete waste of Time and Money!
Reviewed in India on March 12, 2022
Verified Purchase
Nothing interesting , Not written in a readable way . It begins with boredom and latches on to some uninteresting data . No connections between chapters . Some random chapters which I'm sure you can find on Google now a days .
One person found this helpful
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kuroro
5.0 out of 5 stars The perfect analysis
Reviewed in the United Kingdom on April 22, 2013
Verified Purchase
This book is a perfect analysis of Wal-mart and the effct it caused and causes in this world. It is a must read for how ever wants to understand economy , or just the world he/she is lives in.
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Jeffrey Dorn
5.0 out of 5 stars I love to Hate Wally-World...
Reviewed in the United States on June 17, 2006
Verified Purchase
This book jumped out at me from the very first moment I saw it. It wasn't on my list of books to read however the title grabbed me. Wal-mart is on the leading edge of my favorite topics. I don't shop at Wal-mart anymore. I have come to dislike Wal-mart. As far as the book goes its a good read. Fishman has a nice style of writing like any good reporter should and the pace and presentation of the story he tells reads like a good episode of 60 Min. I enjoyed it.

There is nothing stunning about the facts Fishman presents to the reader. That is, if you, like me, read a wide variety of center to left news magazines in addition to all the right wing spew that oozes out of the Television. The Wal-mart effect has been well documented in "The Nation", "Mother Jones" and "The Progressive" magazines for years. It is an ongoing story. The real kick in the pants is that this is now main stream. Wal-mart is way out of control. Wal-mart is out of control in the way a 380 lbs linebacker with the mind of a 4 year old is out of control. The linebacker needs handlers to keep him from hurting those around or himself and in that sense Wal-mart needs the government to step in and handle them. The reasons why are very well presented in the book which I encourage you to read. (I borrowed the anology from Fishman)

There are two other things that interested me about this book. One is Wal-marts dedication to bringing the shopper the lowest price at any expense. I feel quality has been sacrificed. Fishman lists a variety of examples from sprinkler to blue jeans that have had the quality cut as well as the cost of labor inorder to achieve the 5% cost cut per year mandated by Wal-mart policy. I think that the shopping experience at a Wal-mart suffers from lack of quality as well. Wal-mart is a manisfestation of the cheapening of our society. The other thing is taxes. Fishman doesn't really go into the Wal-mart effect on local municipalities. (Some but there is much more) Wal-mart shops for locations. They want cheap. They want towns to fork over municiple service and build streets and handle traffic AND give up a big tax break. They present themselves to the town selectmen as if the 300 jobs they bring into a community will be the payoff. If the town won't budge on a Wal-mart demand then they head up the road to the next town. Wal-mart dosn't want just the cake and the frosting... Wal-mart wants the serving spoon, the plate, the cart you wheeled it in on, you get the point. Fishman does touch on this issue in general. I would like to have seen a bit more information on this. The cost of 300 low pay, part time jobs with crummy insurance to the town that gets saddled with a Wal-mart is often so high thats it is not worth it. The health insurance gets paid by governemt services, the traffic gets handled by an already over stretched police force, the firedepartment now has added responsibility and by the time all the real costs are added up Wal-mart starts looking like a 800 lbs gorilla on the back of local taxpayers. I would venture a guess that would be one Wal-mart does not want to be well known.

All in all this is a must read. I use to shop a Wal-mart. Then I became a guilty exploiter of just the amazing fishing department. Now I have weaned myself off Wal-marts low price altogether. I just can't afford them anymore
11 people found this helpful
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Amazon Customer
5.0 out of 5 stars Five Stars
Reviewed in the United Kingdom on January 3, 2016
Verified Purchase
Good condition.
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James Charnock
5.0 out of 5 stars "Sometimes the way others see you is, in fact, the way you are." (Charles Fishman, author)
Reviewed in the United States on January 27, 2012
Verified Purchase
My subtitle would be: Wal-Mart is a Bully

Imagine this scenario:

A 115-year old company respected for its quality product/s and loyal buyers is selling an item for X amount, which allows them to compete, provide medical coverage for its employees, donate to local charities, pay for the raw materials, give employees the weekend off and a week (at least) paid vacation. These employees earn enough to save for eventualities, afford a reasonable house and so on.

The company decides to become a supplier to Wal-Mart because of its vast national and international reach. Its product soars via Wal-Mart, eventually amounting to 75% of the company's sales. That is year one.

Year two, Wal-Mart has a "talk" with the venerable company and tells the CEO that if they want to continue with Wal-Mart they will have to reduce their price to a set amount--this is not a negotiation--because Wal-Mart's goal is: "Always the lowest price. Always." The producer/supplier/manufacturer winces, but takes the squeeze.

But the supplier soon finds out that the Wal-Mart "talk" is yearly and each year there must be a price cut, which will affect the supplier's number of employees, the benefits it gives and so on. Eventually, the only way the company can survive is to cheapen its product and/or move overseas.

So, employees are fired, their spending in the community lessened, life's benefits are lowered or eliminated and life is more miserable. Pleading or reasoning with Wal-Mart is useless: They don't care. They want more and more customers and the way to get them is lowering prices.

The above is the essence of this book, except the book is more dramatic, more depressing and shocking (though enlightening), and based on real scenarios, over and over. Seldom have I read a book that was so overwhelming. Although the author seems to go off on a tangent at times, the main gist of his book is that Wal-Mart is the best (read: worst) example of the high cost of low prices.

Personally, I never shop at Wal-Mart. Yes, I have visited twice and bought exactly one item, regardless of its price. I don't like the moral tone of a company that browbeats its suppliers--other companies--out of existence or forces them to go to very poor countries where 20 people can be hired for a living wage of one U.S. worker. It has an end goal--the lowest price--and doesn't seem to much care about the means to that end. Our country and people will become economic slaves with not much freedom to shop elsewhere for variety and quality.

Following are some pertinent quotes from the book:

PAGE 103:
"Sure, Wal-Mart has held inflation down; it's great to have bargains. But you can't buy anything if you're not employed. We are shopping ourselves out of jobs"

PAGE 106:
"Eventually, the only way to lower costs is to manufacture outside the U.S., in countries with lower labor costs, fewer regulations, less overhead. This [constant price-lowering] element of the Wal-Mart effect remains largely hidden from public view."

PAGE 165:
"We find the presence of Wal-Mart unequivocally raised family poverty rates in U.S. counties..."--a university study where everything else but Wal-Mart was controlled for.

PAGE 179:
"Part of the reason Wal-Mart can sell a salmon fillet [dirt cheap] is they don't [accept] all the costs. Pollution ultimately costs money--to clean up, to prevent. [As does] reasonable wages, proper equipment, worker breaks, days off [even ONE]. Right now those costs aren't in the price of a pound of Chilean salmon."

PAGE 203:
"The only thing likely to make you smile at Wal-Mart is the price. In fact, it isn't really a place to shop, it's a place to buy things--bring a list, check the items off, get out. ... Wal-Mart is relentless at measuring its own costs; it isn't so interested in measuring its customers' costs."

PAGE 236:
"Wal-Mart isn't subject to the market forces because it is creating them [because of its size: the biggest company in the world]."

PAGE 240:
One of the highest percentages of workers on Medicaid work for Wal-Mart--mostly because they don't make enough money at Wal-Mart not to be on Medicaid.

PAGE 269:
"Wal-Mart can't seem to grasp an essential fact: The company has exactly the reputation it has earned: ... How it treats store employees; the relentless pressure that hollows out companies and dilutes the quality of their products; the bullying of suppliers and communities; and its corrosive secrecy."

PAGE 272:
"Low prices looked great for years, until we got a peek at [Wal-Mart's] hidden....costs. It's possible that the long-term consequences of muscling suppliers into sustainability will actually be unsustainable."

On the flip side, Wal-Mart is so big, powerful and influential that it can actually change the economic life of it's customers (and citizens around the world) for the better. If it took the lead others would follow. But it keeps its head in the sand and continues to be what it mostly always has been. If you're not sure what I mean, simply re-read the review.
4 people found this helpful
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