Scotland’s Davids Losing Fight to American Giant
Asda-Wal-Mart has opened its first supercenter in Scotland and local merchants are worried about their ability to compete according to BBC News. The store opened today in Livingston, West Lothian and is said to be the largest of its kind in the country.
Asda is reported to have invested £35m and created over 500 jobs in this, its 34th store overall in Scotland. It is expected to draw consumers with low prices on a combination of food and general merchandise categories not generally found under one roof.
Scottish retail managing director Tony Page said: “Today’s Asda-Wal-Mart opening in Scotland brings the very best of American retailing and prices to Scottish customers.”
Local mom and pop businesses say they can not match the chain’s prices and remain in business. Retail business closings are said to be up 133% over the last three months versus the same period a year prior.
Moderator’s Comment: Does the presence of big box retailers
add to, detract from or have no net effect on local economic conditions?