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The key to competing and surviving against Wal-Mart is to focus your business into a niche or pocket where you can leverage your strengths in the local marketplace.

But they are also better, our competitors are better because Wal-Mart exists.

Walmart is an amazing story of entrepreneurship and, as one of the world's most powerful brands, touches millions of lives every day.

We see great growth in the United States. But also in China, Brazil, the U.K., and other markets around the world. So ecommerce is going to continue to be a great story for Walmart.

When you compete with Wal-Mart, even if you think you've found a niche don't ever become complacent.

Nobody forces you to work at Wal-Mart. Start your own business! Sell something to Wal-Mart!

Walmart isn't your average mom-and-pop operation. It's the largest employer in America. As such, it's the trendsetter for millions of other employers of low-wage workers.

More people work at Walmart than anywhere else in the United States, but you wouldn't know that from our literature. I'm trying to get at the reality of this country by portraying the lives of many of my friends who I left behind in Pittsburgh.

Wal-Mart uses technology to increase sales volume, but the more it does so, the more it drives down profit margins - its own and everybody else's. The same logic does not appear to hold for Goldman Sachs.

Walmart is so huge that a wage boost at Walmart would ripple through the entire economy, putting more money in the pockets of low-wage workers. This would help boost the entire economy - including Walmart's own sales.