Holiday shopping is starting sooner every year. One of the contributors to this commencement is Wal-mart’s reduction in prices. In attempt to counteract the slow sales this season, Wal-mart has already greatly decreased many electronic prices. This presents much more competition for rivals such as target, best buy, and circuit city. The sharp price-cuts were officially announced today. Even though this may seem like a good move for Wal-mart, they are practically forfeiting billions of dollars in holiday sales compared to previous years. A positive aspect for Wal-mart is that they will far exceed their competitors. The idea is to attract customers to their store prior to the day after Thanksgiving sales, which could make them lose money to their competitors. This shift for Wal-mart to focus back on it’s pricing has to do with the failure to persuade it’s customers to purchase more clothing and furniture. Target dominates the market in this area.
After learning about the Wal-mart sweatshops in class, I almost cringe at reading this article. Wal-mart has more money than countries and they are still trying to aim higher. What it also sad is that many people are oblivious of the sweatshops and will continue to shop there. In many lower-income families, it is necessary for them to shop there, because it’s what they can afford.
The New York Times, Michael Barbaro Friday, November 3, 2006
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