Retail behemoth Wal-Mart is changing its focus from fashion conscious to discounts this holiday season just as before. Company officials have promised discounts on thousands of items ranging from gifts, entertaining and holiday items.
It appears that the poor show in October growth which was 0.5 per cent in sales is behind Wal-Mart’s reason of going back to basics. Even the company is blaming its trendy clothing line, Metro 7, for its miserable show last month. The clothing was advertised in the fashion and glamour mag Vogue and spread to 1,500 stores across the country.
Tom Schoewe, CFO, Wal-Mart said,
We’re continuing to work longer-term to improve the balance between fashion and core essentials in our stores.
However, this is not going to be the case as this holiday season seems to be all about discount price for Wal-Mart.
That’s the way to do it. If changing and chopping ways to do business and shifting focus to newer ways don’t work, then the best policy is to go back to the basics and do what you can do best. Wal-Mart seems to be waking up to this fact now.
