Will Wal-Mart Take Over The World?

"In the old days, there were shops of all kinds -- bakeries, shoe stores, pharmacies, and the like. Then came Wal-Mart. And the fear that the giant all-in-one store would come to small towns and squash mom-and-pop operations turned out to be real. American consumers find the Bentonville, (Ark.)-based discounter... irresistible for its convenience, selection, and low prices. As local stores have continued to close, Wal-Mart has grown to 2,780 outlets in the U.S. alone... How can other retailers survive the Wal-Mart juggernaut? The answer is, and has always been, differentiation."