Retailers, consumers and prices
In the first two months of this year, Wal-Mart increased its share of the U.S. retail market by more than a full share point compared with same time a year ago, according to a new study from retail consultancy Customer Growth Partners. (Read about their strong February sales results.)
In January and February Wal-Mart’s U.S. business rang up $44.64 billion of sales — representing 9.7 percent of total estimated U.S. retail sales, excluding auto/food services. That is up from last year, when its January and February U.S. sales were $42.02 billion, or 8.6 percent of total U.S. sales, according to CGP.
According CGP, the recessions of 1974, 1981 and 1991 witnessed a similar trade-down phenomenon, which provided a temporary boost to traffic at discount retailers.
Retailers are geared up for the crucial three-day Thanksgiving shopping weekend, and many have already slashed prices to kick-start sales and rouse wary shoppers into spending mode.