Walmart No Longer "Price King," Survey Says
NEW YORK--An overwhelming number of Walmart shoppers surveyed by WSL/Strategic Retail--86 percent of the participants--no longer believe that Walmart has the lowest prices.
According to the retail consulting firm's most recent "How America Shops" report, this perception has resulted in a number of Walmart shoppers switching to dollar stores, supermarkets and other mass merchants. The Walmart customers who participated in the survey cited dollar stores in particular as having lower prices, more national brands and more agreeable shopping environments than they did previously. "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," WSL/Strategic Retail said.
Candace Corlett, president of WSL/Strategic Retail, said of the survey results, "Our report suggests that Walmart needs to better address the demands of its shopper today in order to regain relevance. The world's largest retailer is certainly not going to disappear. However, it will no longer dominate the U.S. retail landscape the way it once did."