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)
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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.
With the economy in the toilet, now might be a good time to get a bike: to cut down on gas costs, get some low-cost exercise, and help with that paper route you got to help pay your cable bill. Wal-Mart is offering this
Wal-Mart recently finished judging a competition amongst its suppliers to produce environmentally friendly packaging that protected the product while using consumer-attractive design. The winner was an HP laptop that is shipped and sold in a stylish carrying bag made from 100% recycled materials. This specific laptop, the
I was strolling through the men's clothing department at Wal-Mart yesterday and realized something: it's not that cheap.
Every day, WalletPop will be bringing you information about a fantastic freebie. Like what you see? Check back tomorrow for more!
I know: the idea of Wal-Mart as a green-friendly company is a little strange, but bear with me.
In this economy -- and in any economy -- the best daily deal is a free deal.