> There are many successful companies that have been built upon cheaper rather than better, eg Walmart. In addition to what everyone else said, Walmart owns a

> There are many successful companies that have been built upon cheaper rather than better, eg Walmart. In addition to what everyone else said, Walmart owns a market other companies don't seem to want: Poor people. Both Costco and Target go after a much richer clientele, and KMart, which is otherwise very similar, is dying. Walmart is the go-to one-stop shopping experience for people working one or more minimum wage jobs. Related to this is the fact Walmart builds stores where other companies don't. As a result, Walmart owns some very rural markets nobody else is touching. Edited to add: My point: Given the above, for Walmart, 'cheaper' is a necessary element for success. They're chasing a market that straight-up can't afford 'better'.