Wal-Mart is riding the economic stimulus bandwagon by slashing prices and offering no interest on its credit card. Will these offers be compelling enough to get consumers to spend at Wal-Mart?
MediaPost Publications – Wal-Mart Leverages Economic Concerns With Promotion – 01/30/2008
DO RECESSIONS AND WAL-MART GO together? The company, which has built its marketing platform on helping families save money, is wasting no time in jumping on the “economic stimulus” bandwagon. The company says it is rolling back prices on many items between 10% and 30% this week. And it’s also easing the credit crunch, offering no interest for 18 months on purchases of $250 or more with a Wal-Mart credit card.
A spokesperson for the Bentonville, Ark.-based retailer says the company’s TV spots supporting its “Save Money, Live Better” ads, which highlight the company’s claim that it saves the average American family $2,500 a year, are still running intermittently. Seasonal rollbacks support that positioning, she says.
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