Wal-Mart acquired nearly 400 stores with the largest number of stores in China through capital operation, which greatly improved economies of scale and reduced procurement costs. Wal-Mart's operating model is the separation of procurement and operation, that is, the separation of business and mining. The profit of commodities basically comes from surplus gross profit, and Wal-Mart also has expenses, which are only reflected in the form of commodities.
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In addition to retail, Wal-Mart is the world's largest commercial real estate developer and logistics real estate developer. Most of Wal-Mart's stores around the world are bought, leased to subsidiaries, and then rented with subsidiaries. A small part of the appreciation is used for subsidiaries to open stores, and a large part is used for stock market. In addition, Wal-Mart has established logistics bases and warehouses in many cities around the world to carry out transnational logistics operations.
Wal-Mart is no longer a cheap supermarket, and its Sam member stores are more aimed at the middle class. Wal-Mart will also buy out some products, act as an exclusive agent and sell them under Wal-Mart's own brand label to obtain higher profits.