In these, our times of economic trial, I've noticed a lot of people casually talking about scaling back on the ol' impulse buys. ("The Latest Style: Self Denial," WSJ, Nov 6, 08) Hmmm, I thought. I also know many people who bemoan the Target Effect: going into one of those stores and coming out with $150 in impulse buys. I wonder if we'll see less of that?
As it turns out, we already are: "Target October Same-Store Sales Down 4.8%." (Marketwatch, Nov 6, 08) At the same time, WalMart's same-store sales are up 8.3%.
There are a number of factors at work here -- WalMart's got a thriving grocery base, it's been blanketing media channels with ads hammering home the message that WalMart's your place to go to maintain your standard of living for less. But I also wonder how much of Target's downturn can be attributed to its yupscale devotees deciding they don't need to blow another $65 on cute Halloween decorations this year.
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