Walmart operates in a market that is generally considered to be an oligopoly rather than a monopoly. An oligopoly is characterized by a few dominant firms that have significant market power, but there is still some level of competition among them.
In the case of Walmart, while it is the largest retailer in the world and has a substantial share of the market, it competes with other major retailers like Target, Costco, and various online platforms such as Amazon. This existence of multiple significant players in the retail space indicates an oligopolistic market structure.
If Walmart were a monopoly, it would mean that it is the sole provider of goods in a particular market, which is not the case. Consumers have alternatives, and this competitive environment helps keep prices in check and provides choices for consumers. Thus, Walmart’s presence alongside other large retailers reflects the characteristics of an oligopoly rather than a monopoly.