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NEW YORK (CNNMoney) -- Wal-Mart's core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.
"We're seeing core consumers under a lot of pressure," Duke said at an event in New York. "There's no doubt that rising fuel prices are having an impact."
Thats BS. Wal-Mart (due to declining business and inability to force vendors for cheap prices) raised some prices to where they were now equal to their competitors. That means they are no long the low price leader. You can see this in their ads that talk about "matching" other prices. MATCHING??? I thought they claimed to always have the lowest prices. Guess NOT!
So WM puts out all sorts of excuses for declining business and saying its due to gas prices (partially correct but that goes for all businesses) when their competitors are seeing increases. WM is not gaining and competitiors sales are rising, Hey WalMart it's not the gas prices it's YOUR prices.
Thats BS. Wal-Mart (due to declining business and inability to force vendors for cheap prices) raised some prices to where they were now equal to their competitors. That means they are no long the low price leader. You can see this in their ads that talk about "matching" other prices. MATCHING??? I thought they claimed to always have the lowest prices. Guess NOT!s.
Not that I really wish to particularly defend walmart, but it's nothing new that walmart will seek parity with the competition and then try to find ways to strategically undercut them - but it's impossible for a global corporation of that size to always be the lowest in every single product across every single ever-changing market. That's why the have a guarantee to meet lower pricesfrom other stores- which, by the way, many businesses do. There's really nothing new here - walmart doesn't give discounts out of charity.
You can see this in their ads that talk about "matching" other prices.
Internet price comparing is a big thing now. So, Walmart has a genius working for or with them that said "Let the customer price shop. Then we'll match the lowest price. That way we cut costs on research and analysis for pricing strategy, by letting the consumer do it for us."
I think its a great idea for Walmart. It's an even better idea for consumers if it eliminates the stores all having their own "model" of thousands of products that are virtually the exact same items.
The last time gas prices went up, Wal-Mart prices went way up. Gas prices went down, Wal-Mart prices did not go down. Between sales items at the other 2 grocery stores in town and Amazon and a couple other online retailers, we are buying about 75% less from Wal-Mart.
Internet price comparing is a big thing now. So, Walmart has a genius working for or with them that said "Let the customer price shop. Then we'll match the lowest price. That way we cut costs on research and analysis for pricing strategy, by letting the consumer do it for us."
I think its a great idea for Walmart. It's an even better idea for consumers if it eliminates the stores all having their own "model" of thousands of products that are virtually the exact same items.
but if they really want me to go to them, they would need to beat the price not just match it. i guess it depends on how much more convenient it is to go to walmart than some place else, but for me walmart isnt the closest so if i find a place with a better price, ill probably go to that place instead.
The CPI index is bullcrap, inflation is over 10% right now
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