Walmart
We all know Walmart to be a discount store chain where products can be bought at bargain prices. But, guess what ? Go to walmart.com and check out the engagement ring prices..
(okay i followed a website that asked me to do it..)..$9988..yes...you read that right..
nine thousand nine hundred and eighty eight... whats up Walmart ?
Getting spiffy ?
posted by brain freeze at 3:57 AM
5 Comments:
I think Walmart has been trying to "designer-up" their stores ala Target for a while now, except they haven't been very successful shedding their cheap image per a TIME article I read recently.
1:12 PM
Recently a WalMart executive called for an increase in the minimum wage. Reason given was that the customers were not able to afford other purchases given the increase in gas prices. You can imagine that WalMart is depending on the lower and middle income people as their key source of customers.
WalMart can do business as EDLP (Every Day Low Price) or as Hi-Lo pricing (Usually high, but sell low by promotions).
I guess WalMart is trying to implement the Hi-Lo through its online service. It is going to be very hard for a high income level customer to say to others that they bought the engagement ring at WalMart.com, especially to the (hopefully) eager recipient.
WalMart could instead create a separate web-site/brand under which they could sell the niche items. With heavy marketing and numbing the consumers with the new image for the new brand/store, they might be able to succeed in their attempt.
11:45 PM
I recently discovered that Walmart combined with Sam's Club is the biggest seller of diamonds in the US!
Walmart is definitely trying to lure in more of the higher income people to its stores/website. Yesterday, I saw a WM TV ad and it looked more like a Macy's ad! Apparently, they had recently hired a guy from Target to help them improve the layout of the stores. I haven't visited a Walmart recently, so I am not sure if the stores look any different from what they used to.
BTW, on a different note, has anybody seen the "Will Jesus shop at Walmart" campaign? I am totally sick and tired on the anti-Walmart lobbyists.
12:09 PM
I recall reading, the consumer profile for the warehouse stores - like Sam's club and Costco, are predominantly people with a higher than average income, so the ring does not come as a surprise. But as the other poster says, would you wnat to say your ring was from walmart, heck I don't recall the last time I bought anything from Walmart.
The company's HR policies need a drastic overhaul. Besides it's abig supporter of GWB - a big reason for the thumbs down for me :)
10:49 AM
Yeah.i agree..i wouldn't buy a ring from Walmart.. on the other hand..i might not buy a ring from Target either...
Walmart has to shed its image if it wants to get higher income consumers into its stores.
But the question is..does it really need to ?
8:46 PM
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