An interesting read:
When Walmart comes to town, it uses its low prices to undercut competitors and become the dominant player in a given area, forcing local mom-and-pop grocers and regional chains to slash their costs or go out of business altogether. As a result, the local farmers, bakers, and manufacturers that once sold their goods to those now-vanished retailers are gradually replaced by Walmart’s array of national and international suppliers.
Walmart used to operate in Japan but left the country in 2020.
I’m also not a great fan of Costco, one of the few successful foreign retailers in Japan, but it remains to be seen whether they will have the same detrimental effect on the local economy as Walmart does.