Charlie Munger
Acquired
Opportunities to Copy Costco and the Success of Home Depot
It was relatively easy for the speakers to copy the Costco model and create successful businesses around it./nCopying Costco's approach of offering a variety of products worked well for Home Depot./nCostco's success was partly due to its horizontal approach, offering everything for consumers./nBernie Marcus, the founder of Home Depot, was open to sharing his playbook with others./nOpportunities to replicate the success of Home Depot and Costco are limited./nWalmart failed to compete with Costco because they were reluctant to change their existing ideas and strategies./nWalmart's focus on low occupancy costs in small towns prevented them from establishing a strong presence in affluent areas./nAllowing Costco to dominate the lucrative market of affluent suburbs was a major mistake for Walmart.
