Recession Special: Everything at Walmart
Apparently, the recession hurts less at Walmart. A recent survey of American consumers had some interesting results: people are a lot less interested in shopping than they have been in decades and are turning to discount retailers like Walmart to ease their financial pain.
“This is the first time in 30 years of consumer surveys that we’ve seen this low interest in shopping,” said Britt Beemer, CEO of America’s Research Group.
The principal reason for low discretionary spending is that 48.5% of consumers feel pressure from credit card bills, the survey said.
The change in consumer behavior also has a philosophical basis, said Beemer.
You might expect discount retailers to attract shoppers in a recession. Makes sense, right?
Well an interesting addition to this recession success is that Walmart reported much higher than expect sales in April. Same-store sales, which are often the most reliable indicators of a store’s health, were up 5% in that month. Well, I guess we’ll see you at Walmart (if we haven’t already).