Retailers, consumers and prices
Vitamins, cheaper meat, infant clothes big recession sellers
Mike Duke, the newly installed CEO of Wal-Mart, has been watching the recession play out in the cash register at his stores.
In an interview on the Today Show, Duke took Matt Lauer on a walk through a Walmart store, and talked about how he is seeing his shoppers navigate the downturn.
- They are buying bigger boxes of diapers at the beginning of the month, when they have just been paid, but gravitating toward smaller boxes when they run out of cash later in the month.
- They are taking more vitamins, hoping to keep themselves healthy and avoid having to miss any time at work.
- Infant clothes are selling faster than adult apparel as parents forsake the latest styles to keep their growing children clothed.
- While flat panel televisions may seem like a splurge, they are more of a necessity when a family is spending less on entertainment outside of the home and forgoing vacations.
- They are using cash more often to pay for their purchases.
When might Duke get a sense that consumers are feeling a little bit better about things?
He said possibly when more expensive cuts of meat start ringing up strong sales again.