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Wal-Mart Kicks Off Christmas 85 Days Early
Christmas decorations usually start showing up in stores starting in early November. By the time Thanksgiving rolls around, shallow panic sets in and consumers start acting like starving hyenas hungry for merchandise. Retailers only make the savage atmosphere worse by discounting for a-limited-time-only and pitting shopper against shopper for the hottest toy or lowest price. Now, a full three months before Christmas, Wal-Mart says: Let the games begin.
Wal-Mart Cuts Prices on Toys for Holidays [Dow Jones Newswire via Wall Street Journal]
Wal-Mart Stores Inc. said it will cut prices on some of the most popular toys and speed up the opening of Christmas shops in its stores nationwide as it tries to lure budget-conscious shoppers and jump start its biggest selling season.
Ten toys, from butterfly-winged Barbie Mariposa to Fur Real Newborn Animals, are priced at $10 apiece, the Bentonville, Ark.-based company said Wednesday.
Wal-Mart said its moves to get an early start on the holiday selling season are warranted for several reasons. Shoppers are facing higher energy prices and food costs as well as a sluggish economy and the credit crunch. They are expected to start their Christmas shopping earlier and make other changes to help stretch their holiday budgets.
While a majority of U.S. shoppers don’t plan to cut back on how much they spend this Christmas season, more than one-third plan to buy less-expensive items and to buy for fewer people this year, Wal-Mart said, citing a survey of 1,000 adults that was conducted in September on its behalf.
The stakes are high for Wal-Mart and other retailers. The holiday season is when many retailers make their profit for the year. The National Retail Federation said that U.S. retailers should brace for their worst holiday season since 2002, while other forecasts are even gloomier.
Value has been the key message by retailers this year as consumers, battered by economic concerns and a volatile stock market, curtail their discretionary purchases and seek bargains.
Home Depot Inc. said in September it’s cutting prices on 1,200 items from paint to a toilet repair kit by as much as 50% while Wal-Mart’s rival Target Corp. said it’s touting more on the value side of its “Expect More. Pay Less” message.
Wal-Mart and other value-oriented retailers have outperformed their respective retail segment rivals this year.
More than half of American adults aged 18-24 plan to begin their Christmas shopping at least one month earlier this year while three in 10 moms shopping at Wal-Mart plan to get started a full three months earlier this year, the survey conducted for Wal-Mart showed.
Posted by Alex Goldschmidt on Thursday, October 02, 2008
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COMMENTS
Wal-Mart Vice President of Corporate Affairs Raymond Bracy is listed on the reporting form as the company’s lobbyist. The form shows he also lobbied regarding a variety of tax issues and on legislation regarding Chinese imports and China’s currency.
The filing touches on more than government relations; it also mentions items on Wal-Mart’s shelves. For instance, the company lobbied for the suspension of duties on Christmas tree lamps, whistles and ski equipment. ~~~~~~~~WMW~Note: Is there REALLY that MUCH demand for “whistles”?
ddrb in
Thursday, October 02 at 02:21 PM
A beautiful fairy appeared one day to a destitute refugee claimant outside a Maryland immigration office.
‘My good man,’ the fairy said, ‘I’ve been told to grant you three wishes, since you just arrived in the United States with your wife and three children.’
The man told the fairy. ‘Well, where I come from we don’t have good teeth, so I want new teeth, maybe a lot of gold in them.’
The fairy looked at the man’s almost toothless grin and— PING !—he had a brand new shining set of gold teeth in his mouth!
‘What else?’ asked the fairy, ‘two more to go.’
The refugee claimant now got bolder. ‘I need a big house with a three car garage in Annapolis on the water with eight bedrooms for my family and the rest of my relatives who still live in my country. I want to bring them all over here..
PING ! - In the distance there could be seen a beautiful mansion with a three car garage, a long driveway, a walkout patio with a BBQ in an upscale neighborhood overlooking the bay.
‘One more wish’, said the fairy, waving her wand.
‘Yes, one more wish.
I want to be like an American with American clothes instead of these tore cloths, and a baseball cap instead of this turban. And I want to have white skin like Americans.
PING ! - The man was transformed, wearing worn out jeans, a Baltimore Orioles T-shirt and a baseball cap. He had his bad teeth back and the mansion had disappeared from the horizon.
‘What happened to my new teeth?’ he wailed. ‘Where is my new house?’
The fairy said ‘Tough shit, Mac, Now that you are a White American, you have to fend for yourself.’
Hill Billy Deluxe in
Saturday, October 04 at 06:57 PM
They want to cut back credit. You cut back consumption. A horrendous Holiday Season might be just what we need to finally get the Capitalist’s attention. Of course, it will probably also push our economy into depression, but, hey, you pays your money and you takes your chances.
The delightful part as far as Wal-Mart is concerned is they have already gotten government largress in the form of the “stimulus package” so there’s nothing left to boost Christmas sales.
If not being able to consume is going to ruin your Christmas, you’re definately part of the problem.
If there has been one uninterrupted trend of the past century, it has been the steady socialization of risk—especially financial risk. ~ Wall Street Journal
Ken V in Texas
Tuesday, October 07 at 03:29 PM
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