A recent report found that Walmart shoppers aren’t always so loyal:
- The price king has been toppled. 86 percent of Walmart shoppers no longer believe that Walmart has the lowest prices. Every brick and mortar retailer lowered prices and shouted sales throughout the recession, while the Internet became the go-to place for shoppers in search of the lowest price. If Walmart no longer stands for everyday low price (EDLP), what does it stand for?
- Where did the Walmart shopper go? The Walmart Shopper is finding better shopping elsewhere, including dollar stores, supermarkets and other mass merchants. “The most frequent core shoppers are still in the [Walmart] store, but they have less money to spend and so are always looking for a better deal,” says Liebmann. “If Walmart can convince them that it has the best deal every day, they will hopefully not be so tempted to go elsewhere.”
- The recession is not over for Walmart shoppers. 82 percent of the retailer’s shoppers say they haven’t seen any improvement in their financial situation in the past year, and 70 percent don’t expect their finances to get better next year. The economic downturn, credit crunch and higher gas prices, among other factors, squeezed the discretionary spending out of the wallets of Walmart shoppers.
Has the recession caused a permanent shift in how consumers shop for deals? Are shoppers finally going online and staying there?