Munger says Walmart made a terrible mistake letting Costco win wealthy suburbs
Charlie Munger · Charlie Munger (Audio) · Acquired · Oct 30, 2023 · at 28:46
Charlie Munger discusses why Walmart and Sam's Club failed to effectively compete against Costco's warehouse retail model.
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“So it offended them to go against the rich suburbs and to have to pay up for the good locations, and Costco just specialized in the good locations where the rich people live. And Walmart just let them do it year after year. It was a terrible mistake.”
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