Wednesday, October 21, 2009
Wal-Mart announces weekly price cuts for holidays
This article provides another perspective on Walmart and their prices. Walmart has announced that they are planning to lower prices even further for the holiday season, in their commitment to not be beaten on price. Prices on frequently purchased grocery items have been shown to be about 14% lower than other grocery store chains. Walmart hopes that consumers will recognize this gap. CEO and president Mike Duke plans for even further growth. They will continue to use their size to increase sales and decrease prices. Because of their size, it is possible for them to outdo their rivals. They pull in so many people that when they lose profit in one area, it is compensated for in another.
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I think this could be Wal-Mart's key to having a successful holiday season of sales. Other articles have stated that holiday sales are expected to be less than normal this year, but this could help the retail scene at least a little bit. People are often concerned with finding the best price, and it seems apparent that Wal-Mart is determined to give it. While one store alone can probably not make all the difference in holiday sales, encouraging people to shop there by lowering prices is a first step to changing it at least somewhat.
Wal-Mart's growth and future outlook is scary for competitors. Many people prefer to help small, local businesses but it becomes difficult to justify with prices so low.
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