Earlier this month Walmart CEO Bill Simon said the company could accelerate the rollout of its Neighborhood Market grocery stores. According to Simon, Walmart had plans to open 80-100 Neighborhood Market stores this year and next, but that number could increase as returns on newly built stores approach those of its supercenter format.
“Neighborhood Market is a really cool format,” said Simon. “It’s a grocery store combined with a drug store put in a place where a dollar store would be.”
And just to scare grocery stores, drug stores and dollar stores a little more, Simon kept talking.
“Imagine a drug store that has Walmart’s prices that has fresh food, fresh produce and fresh meat. Imagine a convenience store that has pharmacy and fresh food. Imagine a grocery store that also has a pharmacy and, in many cases, gas, and the prices Walmart has. It just really works well against any competitive set it operates against.”
Simon and the company he runs have a lot in common. They both lack eloquence, but make alot of money!