Wal-Mart tracks shoppers and sees gloom about the economy
Filed under: Bargains, Food, Shopping, Wealth, Recession
Wal-Mart in the News
Wal-Mart Chief Executive Lee Scott speaks at a company-sponsored conference in Beijing October 22, 2008. Wal-Mart Stores Inc plans to crack down on its Chinese suppliers, announcing on Wednesday steps to enforce stricter quality and environmental standards for the products it sells. REUTERS/Christina Hu (CHINA)
Reuters
Wal-Mart Chief Executive Lee Scott speaks at a company-sponsored conference in Beijing October 22, 2008. Wal-Mart Stores Inc plans to crack down on its Chinese suppliers, announcing on Wednesday steps to enforce stricter quality and environmental standards for the products it sells. REUTERS/Christina Hu (CHINA)
Reuters
President and Chief Executive of Wal-Mart's U.S. Operations Eduardo Castro-Wright speaks to attendees at a luncheon sponsored by Town Hall Los Angeles October 21, 2008. Castro-Wright told the group that U.S. customers are worried most of all about their own financial security and are tending to spend even closer to the dates they receive their paychecks as the economy weakens. REUTERS/Lisa Baertlein (UNITED STATES)
Reuters
President and Chief Executive of Wal-Mart's U.S. Operations Eduardo Castro-Wright speaks to attendees at a luncheon sponsored by TownHall Los Angeles October 21, 2008. Castro-Wright told the group that U.S. customers are worried most of all about their own financial security and are tending to spend even closer to the dates they receive their paychecks as the economy weakens. REUTERS/Lisa Baertlein (UNITED STATES)
Reuters
LOS ANGELES, CA - OCTOBER 21: President and CEO of Wal-Mart Stores, USA, Eduardo Castro-Wright, speaks at TOWN HALL Los Angeles on October 21, 2008 in Los Angeles, California. Castro-Wright spoke about current economic changes and Wal-Mart business strategies. His appearance is part of an ongoing series of CEO speakers at TOWN HALL Los Angeles, a nonprofit, nonpartisan membership organization begun in 1937 and supported through donations by individuals , foundations, and corporations to promote open public discussions of the issues of the day. (Photo by David McNew/Getty Images)
Getty Images
LOS ANGELES, CA - OCTOBER 21: President and CEO of Wal-Mart Stores, USA, Eduardo Castro-Wright, speaks at TOWN HALL Los Angeles on October 21, 2008 in Los Angeles, California. Castro-Wright spoke about current economic changes and Wal-Mart business strategies. His appearance is part of an ongoing series of CEO speakers at TOWN HALL Los Angeles, a nonprofit, nonpartisan membership organization begun in 1937 and supported through donations by individuals , foundations, and corporations to promote open public discussions of the issues of the day. (Photo by David McNew/Getty Images)
Getty Images
LOS ANGELES, CA - OCTOBER 21: President and CEO of Wal-Mart Stores, USA, Eduardo Castro-Wright, speaks at TOWN HALL Los Angeles on October 21, 2008 in Los Angeles, California. Castro-Wright spoke about current economic changes and Wal-Mart business strategies. His appearance is part of an ongoing series of CEO speakers at TOWN HALL Los Angeles, a nonprofit, nonpartisan membership organization begun in 1937 and supported through donations by individuals , foundations, and corporations to promote open public discussions of the issues of the day. (Photo by David McNew/Getty Images)
Getty Images
LOS ANGELES, CA - OCTOBER 21: President and CEO of Wal-Mart Stores, USA, Eduardo Castro-Wright, speaks at TOWN HALL Los Angeles on October 21, 2008 in Los Angeles, California. Castro-Wright spoke about current economic changes and Wal-Mart business strategies. His appearance is part of an ongoing series of CEO speakers at TOWN HALL Los Angeles, a nonprofit, nonpartisan membership organization begun in 1937 and supported through donations by individuals , foundations, and corporations to promote open public discussions of the issues of the day. (Photo by David McNew/Getty Images)
Getty Images
LOS ANGELES, CA - OCTOBER 21: President and CEO of Wal-Mart Stores, USA, Eduardo Castro-Wright, speaks at TOWN HALL Los Angeles on October 21, 2008 in Los Angeles, California. Castro-Wright spoke about current economic changes and Wal-Mart business strategies. His appearance is part of an ongoing series of CEO speakers at TOWN HALL Los Angeles, a nonprofit, nonpartisan membership organization begun in 1937 and supported through donations by individuals , foundations, and corporations to promote open public discussions of the issues of the day. (Photo by David McNew/Getty Images)
Getty Images
LOS ANGELES, CA - OCTOBER 21: President and CEO of Wal-Mart Stores, USA, Eduardo Castro-Wright, speaks at TOWN HALL Los Angeles on October 21, 2008 in Los Angeles, California. Castro-Wright spoke about current economic changes and Wal-Mart business strategies. His appearance is part of an ongoing series of CEO speakers at TOWN HALL Los Angeles, a nonprofit, nonpartisan membership organization begun in 1937 and supported through donations by individuals , foundations, and corporations to promote open public discussions of the issues of the day. (Photo by David McNew/Getty Images)
Getty Images
He says that by tracking spending in stores, he and his team have been able to see trends as specific as people buying baby formula at the beginning of the month -- when the family coffers are full. Also, people are using their credit cards less often (usage is down more than 10 percent).
USA Today gives a run-down of three basic sectors of concern:
- Money worries
- Fewer name brands
- Changing shopping patterns
People should be buying fewer name brands and opting for generic when the product is equal -- that's just a core philosophy of bargain shopping.
And if people are changing their shopping patterns -- buying at the beginning of the month and during fewer shopping trips to save on gas -- that's not so bad either. Just because gas prices are going down, doesn't mean we have to go back to our profligate ways.
But what does the economy do when people act on the age-old financial advice that they should be saving more and spending less? It goes into collapse because our country is driven by spending, which is why politicians are floating a second stimulus to put money in people's pockets to spend. Maybe we should spend more time figuring out how to sustain our national finacial situation when people act rationally and responsibly with their money.



Reader Comments (Page 1 of 21)
10-22-2008 @ 2:06PM
J.B. said...
Wal-Mart should not stock things containing melamine. You save a few bucks but die coughing. Not the American way, Jack.
Reply
10-22-2008 @ 2:47PM
silverstreak said...
American brands of baby formula do not contain melamine. China is the place where they have put that in baby formula. The melamine was added because it made the formula act as if it had more protein in it than it really had. My motto is, don't buy ANYTHING from China as their regulations are non existant on everything. You see what deregulation is doing to our financial industry. The idea that an industry can regulate itself is nonsense and dangerous.
I have been buying clothes from Lane Bryant that are falling apart at the seams. A sweater than I got two wearings out of, washed it once and it came unraveled. Mended that and the next time I washed it, it unraveled even more at different places. IConsidering that I wore this sweater in two different winters, I couldn[t return it, but I should have tried. I will be returning everything from now on if only a tiny annoyance.
Fortunately, I didn't ingest this product. I think it should be made mandatory that the country of origin should be put on the label and adveritised as being from that country too. Let's call our congresspeople and get this rolling.
10-22-2008 @ 3:48PM
Traci Mill said...
The way to get Wal-Mart to do the right thing is to STOP SHOPPING THERE!! There are alot of other stores that don't support slave labor in China and other third world countries and who provide good benefits to their employees. Did you know that Wal-Mart has the highest number of employees on public assistance than any other employer in the U.S?! That's right-they are on Medicaid, food stamps and waiver programs for housing because Wal-Mart only cares about shareholders.
10-22-2008 @ 4:38PM
Kurt said...
Your right .. Only baby milk made in China had the issue .. but as everything you buy in the states in made in China you have to be afraid, remember the pet food problems last year .. China owns your ass.. to save 10 cents you put your neighbor out of work to buy a china made bit of crap .. look at the lable ..support US made goods "if you can find them" before its your own job that is lost to over seas cheap labor..if you keep the money at home it can be spent at home
10-22-2008 @ 4:59PM
Keith said...
Wal-Mart Sucks , everything I get there breaks and it is all India ,China ,Korean made CRAP , I hope they go bankrupt like the many small business they put out of business. It's a monopoly , I only go there if I absolutely have to , I would rather pay afew more cents to local business for quality products, AND being a small business owner you can believe it is US paying Uncle Sam , NOT Wal-Crap
10-22-2008 @ 9:04PM
Linda said...
I agree I was shopping and alot of the items I need are in spanish or another language. I can't even tell what the ingredients are sometimes the only way you can tell what it is is to look at the picture. They took away the lay away program which especially helped those of us on a fixed income. I am on work comp and a single mom so even to buy Christmas presents I have to shop year round now.
It is now just like our welfare system, an evil circle. They have put small business' out of business or made it so they have to hike prices so high I can't afford them and am forced to shop at
Wal Mart for alot of things. I make some of my cloths or fix them and do crafts and crocheting etc. for some extra money or gifts and they have now cut out the crafts section and sewing material sections in most of the stores.
I was speaking to someone in the meat department and they explained that all the meat is pre-packaged prior to coming to the store, they pipe in a gas to keep the meat red but you know it tastes like it has been soaked in water or it was made in a lab! The texture is even weird. Sam is probably rolling in his grave.
It's a shame to take something so successful and trash it to save a couple of bucks. There is something to be said about having old fashioned values and morals and these are things that Wal Mart are surely lacking .
10-22-2008 @ 2:19PM
mark said...
if those evil bastards at wal-mart would have kept sam waltons mission alive, ie: sell american made goods, then people would have money to spend becuase they would be working. 1st of month spending? hello. state checks.
wal-mart. = made-in-china-mart.
Reply
10-22-2008 @ 2:31PM
Mindi said...
Hey now! I get paid once a month (on the 1st) I work a full-time job AND a part-time job! No state check! Alot of teachers and government/city/county jobs get paid monthly as well!
10-22-2008 @ 3:21PM
Robin said...
I totally feel the same way Mark. I worked for Wal-Mart for a year and I do not believe that Sam Walton would approve of his chain of stores and how they treat their employees and customers. He had a vision to keep American money in America and that Americans can afford things that are made right here. It's very sad.
10-22-2008 @ 3:33PM
Vern said...
Sam Walton founded his stores with made in America, buy American, that slogan and this policy is not visible anymore. Maybe it is because 75% of the stock is made in China, American goods are not very visible anymore. If Walmart would reverse this trend and not be so greedy they might gain a lot more than they ever thought they could. American goods mean American jobs.
10-22-2008 @ 4:40PM
mrhptk04 said...
I get paid on the 15th and the last day of the month. Because my hours are fewer during the pay period, my paycheck on the 15th is usually less than the one at the end of the month. I don't have a car right now, and I don't live on a bus route, so I rent a car and do most of my grocery shopping on the first weekend of the month, and I buy what I need in the interim by walking to a store and putting my things in a backpack to hike them back to my house.
10-23-2008 @ 12:29PM
Sara said...
EXCUSE me - but most of the military get paid first of the month. Even though they CAN opt for a bimonthly check it's much more convenient to get paid once. Most of the soldiers WE know get paid like that (enlisted and officers alike - only officer pay is much more easier to manage). Thought you should know - hopefully you don't find the fact that it is indeed a federal check that they are getting anything that didn't work for (ie, put their lives on the line so that civilians can enjoy the civilian luxury of 'freedom'). I didn't know 'if you knew' - but now you do.
It's the same everywhere - first of the month is a busy day - I try my best not to go shopping around the first of the month. I like shopping when everyone else is broke already (thus, at home). Lines are long at Walmart because it's hard to keep employees. Look around next time you're there - there's always some stupid customer acting the fool ('always in the right' as far as management is concerned). I would get sick of catering to fools like that too - I think most Walmart employees are nice people. Besides, I don't think many Walmart employees are paid well enough - besides high management and those running the pharmacy portion.
10-23-2008 @ 5:20PM
Emaleth said...
That's kind of crappy to say. What about Military Service members, State and Federal employees? Some of them are paid on the first of the month ONLY, *OR* the first and 15th of the month. State checks??? @@
10-22-2008 @ 2:24PM
Diane said...
My ultra-frugal husband works at Wal-Mart in the deli and I have to comment on how the other workers waste food (inconsistant food rotation), waste time (too long personal breaks), and just plain laziness on their parts. On the customer side he has noticed more customers complaining about cut backs in products and going to management to get items reduced in price. Some not-so-popular product lines have been eliminated. He sees more people eating high sugar cereals for meals and many people cannot figure out how to prepare a meal other than open a box from the frozen food section. Some people don't know or care that they are wasting precious fuels to make that trip to Wal-Mart to buy that 1/4 lb. of bologna.
Reply
10-22-2008 @ 2:48PM
leif996 said...
IF YOUR HUSBAND IS WORKING AT WALMART MAYBE YOU SHOULD BE SPENDING YOUR TIME LOOKING FOR SOME EXTRA INCOME INSTEAD OF SCREWING AROUND ON THE INTERNET
10-22-2008 @ 3:06PM
phil said...
our local walmart throws away all hot deli food after 2 hrs due to local health dept regs... on day while waiting in line at deli, i noticed a clerk filling a 55 gall trash can with hot baked chickens and turkey breasts...just 2 hrs old... i asked why they didnt call the local food bank/soup kitchen and have them come pick up the food when it was 1hr 55mins old, just before disposal time..they said walmart management wouldnt allow it...go figure.
10-22-2008 @ 5:06PM
mom247 said...
Phil...more than likely it comes down to a liability issue. My company is the same way...they throw out tons of food that is perfectly good and could go to the homeless shelters in the area....but they are afraid of lawsuits if the food is bad or tainted. I can kind of understand their position on things...but it's such a sad waste.
10-22-2008 @ 2:16PM
chuckie said...
Wal-Mart concerned that their shoppers aren't spending enough? Get serious. No floor help, cheap Chinese crap on the shelves and long lines at the registers.
Reply
10-22-2008 @ 2:57PM
D said...
Very true, why is it that they have so many registers and only a few cashiers? To save on payroll of course. So the message I'm recieving is that WalMart does NOT care about Customer Service, but they DO care about taking our money! Greed, greed, greed.
10-22-2008 @ 3:02PM
Annette said...
You got that right!!! I work for a Walgreens store directly across the highway from a WalMart. People will come to our store to buy any grocery items that we have...even if we are a bit higher on some...because the service stinks at WalMart! Since the old man who started WalMart died, it sucks!!