You may have noticed that Wal-Mart (NYSE: WMT) has been struggling a bit of late. But not to worry, the company has a strategy to get things back on track. It is going to focus on low prices.
According to the Associated Press, Wal-Mart launched a new ad campaign on Wednesday, emphasizing how consumers can save money by shopping at the stores. This comes in the wake of the company's failed foray into fashion. The tag line for the campaign will be "Save Money. Live Better." I shudder to think how much an advertising firm was paid to come up with that one. If her private life is any indication, you have to think Julie Roehm could have come up with something edgier.
Stephen Quinn, Wal-Mart's chief marketing officer, said this in a statement: "The new advertising tells the same story we have told since day one, how we are working hard to save people money so they can live better."
But don't people already get that Wal-Mart can be a good way to save money? I mean, I would hope that people aren't shopping at the stores for the ambiance and customer service! The reason that Wal-Mart tried the whole Metro 7 line was that the "Always low prices. Always." story was no longer driving strong growth in the United States. The Metro 7 venture has failed, but that doesn't mean a new focus on Wal-Mart's one redeeming factor (even if it is a big one) will revive growth.
[photo ILoveMyPiccolo]
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