Author and journalist Alex Berenson is well-known for his perceptions of the retail sector. He explained in one of his articles about Walmart that the company would rather expand through strategic small acquisitions than through big mergers with other powerful companies.

Think of Walmart as an eagle that watches over its enormous domain, snatching off small birds here and there rather than engaging in a full-scale battle with another eagle. With this strategy, Walmart can progressively broaden its customer base without incurring the risks associated with mergers with businesses of a comparable size or prominence. Berenson calls these acquisitions "tuck-in acquisitions" because they are more discrete and seamlessly integrate into Walmart's current business operations rather than creating a big splash by partnering with other giants.

These modest acquisitions enable Walmart to keep its competitive advantage while guaranteeing consistent growth free from the possible drawbacks associated with big, intricate mergers. Walmart's success over the years has been largely attributed to this strategy, which enables them to carefully plan their expansion and make sure it perfectly fits with their long-term goal of dominating the retail industry.

By acquiring smaller rivals or complementary companies that fit in well with its vast network, Walmart uses this strategy to further hone its market position. This methodical approach demonstrates how long-term benefits can be achieved through strategic planning and an emphasis on incremental growth.