by MarkJ » Mon 18 May 2009, 07:54:24
$this->bbcode_second_pass_quote('Tyler_JC', 'M')arkJ,
I'd say this is a bad sign. It indicates that consumers are trading down in a big way.
They're late to the party. Many of our upper middle class and wealthy family, friends, customers and business associates have been shopping at Wal-Mart SuperCenters since they were first built. Even many of those that don't shop there directly have kids, nannies or housekeepers that do the household shopping at Wal-Mart.
Besides price, other reasons many local upper middle class and wealthy customers shop at Wal-Mart SuperCenters is due to one-stop-shopping, selection, quantity of stores, location of stores, massive parking, convenience, they're RV friendly and because many other stores went out of business, partly due to competition from stores like Wal-Mart, Target, online shopping etc.
Wal-Mart has plans to open a second SuperCenter within a single local town and many non SuperCenters are being converted to 24 Hr. SuperCenters. When we shop at Wal-Mart SuperCenters, we often see employees, customers or tenants from 30 plus miles away that travel to shop for groceries since they don't have a Super-Center in their area.
Since most of our housing and job growth is in the suburban areas, Wal-Mart can capitalize on the growth. Much of the younger generation is also less opposed to the idea of shopping at Wal-Mart, buying Chinese imports etc.