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Wal-Mart Angles to Keep Those Who Traded Down
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Walmart CEO Mike Duke talks with Journal reporters Ann Zimmerman ans Miguel Bustillo. He says customers are under alot of pressure, and he sees what they buy, delaying purchases and the buying at midnight on the first of the month. Apparel sales are down and so are discretionary purchases and basic necessities and things like vitamins and the $4 generic pharmaceuticals are up. Walmart sees 140 million customers in stores every week, and has information systems to show how customers are buying, which gives it a unique lens through which to see changes in buying behaviour after the financial crisis and increasing numbers of jobless. Customers are saying he says that I will invest in basic needs and defer discretionary purchases. Among other things he talks about sustainability as something his company is paying attention to.
In the U.S. a new frugality takes hold.
01/06/2009
Consumer buying habits in 2009 as job losses and foreclosures take their toll, shifts to frugality and more use of debit cards.
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