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December 18, 2008

No place like .... Walmart for the holidays?

Posted: 05:56 AM ET

Business Writer Kiernan P. Schmitt

A new study says 2 out of every 3 Americans shopped at Walmart last week. America's research group says that's more shoppers at Walmart than JCPenney, Sears, Target, and Toys R Us combined! Looks like it's going to be a merry Christmas for the world's largest retailer.

Walmart's domination has actually brightened the group's entire holiday outlook. It was predicting holiday retail sales would fall by 3.5%, but bumped that up to a less-gloomy loss of 2.8%.

Customers are cutting back - Almost 37% said in the survey they are spending less this year, the highest percentage in the seven years the group has been asking that question.

Some good news for the kiddies out there, though: toys are the most-bought gift this year (33.8%), followed by children's clothing (23.7%).

So even if you get that great new doll that walks and talks and eats and performs basic calculations, be wary of that next present: it's probably tube socks.

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Filed under: Your Money


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Chris Craig   December 18th, 2008 7:00 am ET

Oddly enough i do blame wal mart as many folks do and then they put on their best unibomber disguise and go shopping there at 3 am! In tough times , they do offer folks a better price! In this financial pinch that our country is in, Money is the bottom line!
Though i must say that i would prefer another kidney stone over going there! Too crowded and too crazy ! The place is like a real life "far side" cartoon!
thanks
chris

Gregg in Tahoe City CA   December 18th, 2008 7:14 am ET

Morning Kiernan....I am not a big fan of Wal-Mart and what the mega-corp. stands for....yet I feel relief that at least one mega-market is helping with retail sales during this season...we need all the consumer confidence we can get to stir this ailing economy..let alone gifts for our kids and their smiling faces on Christmas morning....watch out for "lead in toy"....Happy Kwanza.....

Sherry R   December 18th, 2008 8:55 am ET

The unemployment numbers do not reflect any of the work force that are self employed either..... there is really no way to truely get an acurate number. Majority of self employed workers do not have the opportunity to claim unemployment benefits, because they don't pay into it... So seasonal or construction workers in this current market have it even more dificult.... Sherry R.

Toni backus   December 18th, 2008 9:14 am ET

I know the Wal-mart in our town is always crowded. I think people are only buying for their kids, and skipping adult gifts this year. My husband and I are going to exchange gifts after the holidays. I probably reduced my holiday spending by 25% this year.

travis billings, mt.   December 18th, 2008 9:25 am ET

i used to work at walmart and to tell you the truth i don't know what i would do with out them? they helped my kidz and i sooo much when my wife passed away, we weren't married so i didn't have insureance on her but they still helped in ever way possile. and now being a single parent and disabled i get just enough to barely get by and stay at home with my kidz(ssi/survivors benefits) ages 10,8,6,4.
I always shop at walmart cause if i don't i will usually have to borrow a couple dollars from a family member just to make that last week of the month so THANKS WALMART for your every day LOW PRICES!!!

Stephen Coney   December 18th, 2008 9:26 am ET

This makes perfect sense for holidays 2008. The country's economy is in the toilet. Thus, families' budget's have gone to the sewers....So where else are we to shop-The All American Retail Cesspool-WALMART!!!!!

Chris in Nevada   December 18th, 2008 9:41 am ET

With 2 out of 3 people this holiday season shopping at Walmart to get the best deals we can and being thankful we still have jobs to provide for our families, it makes you wonder what Michael Jordan is thinking advertising $230 sneakers! The truth is that the average family has to explain to their children why we can't afford to even look at something like that. Although my children are now grown, it makes me sad to think that someone as admired as Mr Jordan would miss the boat so badly during these hard times in America.

John Fitzsimmons   December 18th, 2008 3:10 pm ET

Interesting news about Walmart's market share. How does it compare to online shopping trends this year? Has online shopping taken a bite out of retailers? or have people been shopping at online retail sites?

Becky   December 18th, 2008 4:57 pm ET

I HATE Walmart!! They never have what I need, they carry it, it just isn't on the shelves. If I go for three items then I can't find two. Their employees are rude and they never have enough check stands open. I wish Walmart would leave New Mexico because they are horrible here! I refuse to go into that place and would rather break my leg than have to deal with them. Their commercial about having more checkers is a lie, they still only have 4 or 5 at our Super Walmart. No thank you.

Sherry Sophia   December 19th, 2008 7:53 am ET

Wal-Mart is the place to shop this holiday season! There are great bargains in all departments for each member of the family!!! Also, there are fantastic savings for the kitty's, doggies, and fishies!!! I love Wal-Mart!!! I work as an overnight produce associate and am very thankful for my job!!! I have worked for Wal-Mart for 5 years and my management team are all wonderful, caring people! We are a family!!!
Our customers are always Number 1!!!! We have a beautiful store because we all work as a team!!! So to save money and live better, stop in and see our store in Oakland, Maryland!!!

Have a Beautiful Holiday!!!
Sherry

Chris Moore   December 19th, 2008 9:46 am ET

This is a great article.

Dave   December 19th, 2008 10:12 am ET

Question for the Day. Why are we still all about the big companies? When Wall Street, Financial Institutions, Auto Makers, and any other Big Business that mismanages their businesses need help our Government passes out our tax dollars like candy, But when the people that need that little boost to help the economy the most get something that might help later in the future. The story was the meeting of the FED on cracking down on the Credit Card Companies. The terms that are to be changed might have stimulated more people to use their cards and help the economy until you find out that these changes don’t take effect until July 2010.

mike   December 19th, 2008 10:41 am ET

It's good to see some things are coming out HAPPY!!!!!! I'm a firm believer to buying AMERICAN, but it seems impossible? I'm not a big Wal Mart fan, but I highly shop at Kohels, Target and JCPenny. I try to look for things that are made in AMERICA. Wal Mart is hurting the industry? are they? all you have to do is google search products made in AMERICA and go from there. I'm blessed that I'm still working and that my kids will have a good Christmas, although I did cut back on the spending a little and going out to eat. Robin I enjoy your show and your beautiful smile!!!!!!!!!! have a wonderful weekend and a wonderful Christmas.

Mike

Paul Mueller   December 20th, 2008 12:53 pm ET

With everyone scrambling for last minute gifts and alot of people trying to find jobs, along with the unemployment rates rising, I haven't heard anything about the "vultures" that take advantage of the situation. Their ads start out at "we can put $1500.00 in your account before Christmas" or " we can help your Christmas celebration with $1500.00 extra". The payday loan "industry". The internet is a wonderful tool, provided that it's used that way, but then there are two "industries" that exploit desparate dilemmas, 1. the payday loan "industry" and 2. "survey" companies. Their ads read like "make money for Christmas", and then a person signs up for "surveys" that are designed for big corporations, trying to figure out what consumers want and like. Then to check in on the companies that you worked for and find that you have made money that is "pending". You are told that you will be paid when the "survey" is over. You keep checking and four months later, the payment is still "pending", and nothing has changed. The Christmas money you were hoping to make is a memory, because Christmas has come and gone. These two industries make "promises" and both are a financial nightmare, yet I have never heard of any news company investigating them. It makes me wonder why.

Mel Thompson   December 20th, 2008 3:29 pm ET

I follow all business articles very closely; having been in business for 35 years; and I always remind family, friends and all who will listen that
IF YOUR OUTGO EXCEEDS YOUR INCOME
THEN YOUR UPKEEP WILL BE YOUR DOWNFALL!

ATTENTION: FORD, GM AND CHRYSLER!

ROGER   December 20th, 2008 4:00 pm ET

IF WALLMART WENT OUT OF BUSINESS CHINA WOULD HAVE NOBODY TO SEND CHEAP TOYS WITH LEAD PAINT

T. Field   December 21st, 2008 7:19 am ET

Why does every year have to be bigger than the one before. Times are tough this year so naturally smart shoppers are spending less. Is a 2.3% drop in sales really news worthy. Stop trying to scare people.

dave   December 22nd, 2008 5:52 am ET

I was at Walmart yesterday in Winchester VA and surprisingly it wasn't very busy, looked like regular shoppers to me.

The only reason for crowds was the lack of cash registers that were actually in use.

Denise Shay   December 22nd, 2008 12:28 pm ET

Regarding big bonuses to execs at companies receiving govt tarp and bailout money...how about a windfall profits income tax of 95% on any income over $250K for any employee of any company that accepts such govt funds? Together with an oil companies windfall profits tax, we could have a little relief...

alex   December 23rd, 2008 11:22 pm ET

i think that wal-mart is ausome! i thank all the wallmart employes. they do a wonderful job. all i can say is that in our current economey you are a fool not to shop there.

unknown   December 26th, 2008 9:47 am ET

What is wrong with the media! All you here is that it is a bad Christmas because people are not shopping. Christmas is not about how much you can spend. It is a religious holiday observed by many. The last time I checked, it was about the birth of Jesus. This year I probably gave about ten dollars to the Salvation Army bell ringers. I felt better doing that than going out and spending twenty to a hundred on a relative and my relatives are proud of me for doing so. Christmas is not shopping, it is not spending money, and it is not the economy.

Janelle in Oregon   December 29th, 2008 8:24 am ET

I love Wal-Mart because mine is a supercenter. One stop shopping with awesome prices is the only way to go.

Char in PA   January 3rd, 2009 5:13 pm ET

I love Walmart, one stop shopping is the way to go. In my town of eighty thousand+ people we have one grocery store. A head of cauliflower in Giant Eagle is $4.99, at Walmart it's $2.50. That's why I go to the closest Walmart I can (5 miles away). Walmart please come to my town!

Roy Rutherford   January 12th, 2009 7:47 pm ET

Walmart really defines the high cost of low prices.. Our tax dollars subsidize much of their underpaid workforce. Their low prices come from the toil of Chinese sweatshops not from American factories with American workers. They locate themselves 20 feet beyond city limits to minimize local taxes then the low prices force the long established businesses out... Walmart is a virus. Like any virus, they must be accepted by the host before doing damage..

Dayona   January 14th, 2009 1:46 pm ET

I'm currently a cashier at Walmart and I know that in our state I personally rang up generous people in our community that were making purchases for other families that were unable to afford Christmas otherwise, and yes it was very busy and myself personally I try to be friendly to all during a hectic season.

juliamoore   February 13th, 2009 3:46 pm ET

BEST offer online Walmart gift cards with deduct!! 70%
Please visit our site http://walmartcards.blogspot.com FREE SHIPING AAAA++++

lenEngate   July 10th, 2009 6:10 pm ET

Definately will not go to Vilamoura anymore, 6 Hour rounds of Golf and 4.5 Euros for a beer , we will stay clear of the Vilamoura golf courses this year, and the so called free shuttle bus turns up if you are lucky.

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