The end of the Cold War and, consequently, the fall of the Berlin Wall in 1989 represented a huge impetus for the expansion of the globalization process all over the world. The age of globalization has brought hyper competition in all industries and among companies around the world, irrespective of their size. The last decades have witnessed the presence of retailers at the forefront of the globalization process since they can use numerous business mechanisms and methods to penetrate foreign markets. As a challenging research field and a dynamic industry, global retailing provides several valuable examples of business organizations that have shown the supremacy of their viable business models. The purposes of the paper are to define the concept of the business model and to illustrate its application in the case of Walmart. The research methodology was based on a quantitative research method and a case study. The findings of the paper show that there is no universal definition of a business model in the literature. However, its several characteristics can be revealed, such as the fact that it illustrates the logic of making money for any company and represents an organisational framework for value creation, delivery and capture. From a theoretical point of view, it brings some clarifications concerning the concept of the business model. From a practical point of view, the paper analyses some of the key features of Walmart business model, emphasizing their importance in achieving business success. It also presents the clear interconnection between Walmart strategy and its business model.