King of the Working Class Sets Sights on Loftier Patrons
Wal-Mart Stores just became the nation’s biggest company — the first retailer to have done so. It arrived by sounding a single note — low prices, reports the New York Times. Wal-Mart is setting its sights on a fresh target: more affluent shoppers who pride themselves on snapping up bargains. Many of the 178 stores it has opened in the last year are in well-off suburbs. All include grocery sections the size of a supermarket, with gourmet desserts and fresh herbs to attract people with money to spend. Wal-Marts new and old are also adding pricier products, from big-screen televisions to digital cameras to more glamorous cookware.
Moderator Comment: What does Wal-Mart need to do to broaden the consumer base shopping its stores?
By trying to attract more upscale consumers, Wal-Mart is clearly moving in on Target’s territory as well grocery competitors that appeal to the same shoppers. [George
Anderson – Moderator]