Big Lots Mission and Vision Statement Analysis

Big Lots Mission and Vision Statement Analysis

Introduction

Big Lots is a chain retail company specializing in selling groceries, electronics, clothes, home products, beauty products, furniture, and more. It was founded in 1967 by Sol Shenk, but back then, it was called Consolidated Stores Corporation. Its headquarters are located in Columbus, Ohio, and around 1500 Big Lots stores are spread across almost all the states. The company used to operate under a lot of different names up until 2001 when it brought all the stores under the same name we know now. Today, it has 35000 associates. In this article, we will discuss all Big Lots’ mission and vision statements in detail, as well as this company’s core values. So keep on reading!

Big Lots Mission Statement

Big Lots’ mission statement is quite straightforward and in line with this company’s name. This retailer’s mission is to “help people live big and save lots.” Big Lots tries to do this by providing customers with an opportunity to shop for countless item categories at affordable prices. Another thing this company does to help people live big is by making meaningful partnerships and helping the community it serves. 

Big Lots Vision Statement

This company’s vision statement promises to be a “big difference for a better life” by delivering unmatched value, building the best place-to-work culture, rewarding shareholders, and doing good. Big Lots hopes that what they provide can help the customers and community live a better life, so let’s see what are the exact steps this company takes in order to achieve its vision.

Delivering Unmatched Value

Big Lots is popular with its customers because of the unmatched prices it offers on its products. Simply surviving is becoming more difficult these days because of the surge in the prices of the products necessary for everyday life, but Big Lots is committed to helping people spend less and therefore live better. 

Building a Best Place to Work Culture

Coming to work every day to a stressful, exhausting, and physically tiring environment without getting paid enough for all that is just awful. Big Lots knows this, which is why they are committed to building a work culture that is pleasant for the employees. This company is working towards providing its workers with the best place to work at. 

Rewarding Shareholders

Big Lots is committed to rewarding its shareholders for their loyalty. This company pays dividends to the stockholders quarterly. This makes it a great choice for investment decisions; customers can easily get promoted to shareholders and reap even better rewards than just shopping at great prices. 

Doing Good 

Big Lots is doing good for the community it serves. The Big Lots Foundation donates to non-profit charities in the fields of healthcare, housing, hunger, and education. While it doesn’t consider other applications, such as from individuals or companies, it makes a significant change for those that are eligible to apply for donations. The most likely to get approved for the donation are the charities serving women and children.

Big Lots Core Values

Knowing Big Lots’ mission and vision statements, it’s easy to guess that this company’s core values revolve around caring for the customers, employees, and the community. Big Lots’ core values are to “lead with Jennifer,” “treat all like friends,” “succeed together,” and “play to win.” Let’s see what each of these means.

Lead with Jennifer

Jennifer is a persona Big Lots invented to represent a core customer this company serves. To lead with Jennifer basically means that Big Lots is working on doing customer research in order to improve customer service, return rate, and overall customer satisfaction. As its website would say, the goal is “to find new ways to help Jennifer save money and time.” Jennifer, in this case, is every Big Lots client. 

Treat All Like Friends

Big Lots is committed to treating everyone with respect and honesty, just like friends should be treated. Whether you are a partner, employee, colleague, or customer, this company believes that you should be treated well. This aligns with one of its visions – to build the best place-to-work culture. It is not difficult to feel appreciated if you work among a number of people who treat you like a friend. 

Succeed Together

Adding on from the previous core value, another one is succeeding together. This company is building a better workplace by relying on working together as a team and in collaboration with one another. It is far from opposed to new ideas and perspectives, as it is aware of the importance fresh takes and opinions can have. The company can only succeed if its employees and customers are all satisfied, so it is really a success for everyone involved.

Play to Win

Big Lots is a huge company that is only getting more successful with time. It is one of the rare retail businesses that didn’t crash during the pandemic, and it reports enormous revenues year by year. The core value that enables Big Lots to achieve these kinds of results is playing to win. This company is dedicated to achieving both individual and company goals, as well as to accelerating growth and profit. 

Conclusion

Big Lots is a retail company that sells merchandise in many different categories at more than reasonable prices. Its mission is to help people live big and save lots. The vision of this company is to be a big difference for a better life. Big Lots works towards this vision by delivering unmatched value, building a culture of the best place to work, rewarding shareholders for their loyalty, and doing good as doing well. Finally, the core values this company holds are leading with Jennifer, treating everyone like friends, succeeding together, and playing to win. Big Lots is working towards providing an environment that is pleasant and lucrative for all – customers, employees, partners, and shareholders. 

Big Lots Mission Statement History

Big Lots mission statement remains unchanged through 2020 and 2021

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