As you may know, New York City is a very interesting place because it is home to a wide variety of cultures and aesthetics. You might be surprised to learn that New York City is also home to many of the biggest companies in the world, including Uber and New York Pizza. Have you ever wondered why Walmart, one of the most well-known brands in the world, is not located in the world’s most popular and often traveled state? Let’s dispel this skepticism and determine why it won’t be doable even in 2022. Lets see Why Are There No Walmarts In New York City?
A Walmart would not fit in with the culture of the city and would probably force many of these enterprises out of business because New York City is known for its distinctive boutiques and small shops. Furthermore, given the high cost of real estate in New York City, it would be challenging for Walmart to locate a lucrative location. Because conducting business in New York City is expensive, there is no Walmart. The high cost of rent, hefty taxes, and the challenge of attracting and retaining staff in the city all contribute to New York City’s high cost of doing business. Walmart stores may not open anytime soon in New York City due to the difficulty of making a profit due to the high rent and taxes.
Reasons why there is no Walmart in New York City:
1. Market Developments
Walmart doesn’t have a presence in New York because its core markets are the Midwest and the South area of the USA. Walmart has locations in all of the nearby states and has its headquarters in Bentonville, Arkansas. Walmart concentrates its efforts in the Midwest and South since those are the regions where profits are highest. Walmart has several stores south of where it has the largest customer base. The three states that spend the most money at Walmart are Oklahoma, South Dakota, and Arkansas.
Laws
In many other cities, Walmart is quite influential, but not in New York City. In many other cities, Walmart is quite influential, but not in New York City. In NYC, several rules have been passed to prohibit big businesses from monopolizing the market and setting prices. The city has regulations that forbid big businesses from acquiring smaller ones and making them sell their goods for less money. There are other strict regulations governing how big enterprises can operate in New York City as well.
The cost of real estate
This is due to the high cost of real estate in New York City. Land near the center of the city is highly competitive, which drives up the prices. In NYC, a square foot of real estate costs $915 on average. Moreover, the value of real estate in New York is the largest in the nation at $2.8 trillion, or roughly the same as the UK’s GDP in 2019. Thus, it would be impractical to attempt to conduct a large-scale business here.
Store shape
Walmart stores cover thousands of square meters, making it difficult to find large land holdings in New York City. The average Walmart store size is approximately 1,80,000 square feet. Thus. These huge stores cannot fit within the city’s extremely precise grid system. In general, the layout of NYC does not correspond with the design of these establishments.
Market Competition
Market competition in New York City is fierce. Walmart needs to provide amazing deals and compete favorably with other retailers to thrive. There are more stores in New York City with this issue besides Walmart. Similar issues exist with other businesses including Target and Costco. Living in New York City is also incredibly pricey. As a result, customers won’t be able to spend as much money at a shop they visit occasionally.
Walmart alternatives in NYC
Notably, there is still a lot of retail establishments in New York City. They typically carry the necessities that city citizens usually buy. Some of the leading grocery chains found in NYC include:
- Kashmir Marty
- Target
- Best Buy
- Sears
However, if you’re looking for a Walmart-style store, you can find it at Greenwich Market in Greenwich Village. Greenwich Market is a large open-air market and a great place for shoppers to find local art, antiques, vintage clothing, and mouth-watering food as well. Since it first opened its doors in 1755, it has been one of New York City’s oldest markets.
Key takeaway
People in NYC agreed to forbid Walmart superstores from the neighborhood a few years ago. They concurred since they thought that these huge outlets would endanger local enterprises. In the cities of San Francisco, Seattle, and Detroit, similar decisions were made. However, that does not imply that the company’s products are not available to residents of NYC. created the Neighborhood Market brand to make its items available to those living in larger cities. On top of that, you can order things from the official Walmart website and have them delivered right to your door at your NYC address.
FAQs
How many Walmart stores are there?
There are more than 11,500 Walmart locations worldwide, with 4,500 of those being in the US.
Apart from NYC, which US state doesn’t have a Walmart?
Detroit, Seattle, Boston, and San Francisco don’t have Walmart either.
Does Walmart deliver products to New York City?
Yes, Walmart does offer doorstep delivery in New York City.
