Saturday, March 03, 2007

It’s Not Only About Price at Wal-Mart - New York Times:

The new, and so far internal, definition of what Wal-Mart, the nation’s largest retailer, stands for will soon become a very public strategy, evident on the shelves of 4,000 stores and in advertisements seen across the country.

In their first interviews since a management shuffle last month, John Fleming, the new chief merchandising officer, and Stephen Quinn, the new chief marketing officer, said that after a year of intense research, the discount giant is seeing its 200 million customers as belonging to three groups.

There are “brand aspirationals” (people with low incomes who are obsessed with names like KitchenAid), “price-sensitive affluents” (wealthier shoppers who love deals), and “value-price shoppers” (who like low prices and cannot afford much more).

The new categories are significant because for the first time, Wal-Mart thinks it finally understands not just how people shop at its stores, but why they shop the way they do.

12:47 AM