Wal-Mart begins holiday price cuts
By Staff -- Gifts and Dec, 10/1/2008 10:32:00 AM
BENTONVILLE, Ark.—Wal-Mart this week reduced prices on 10 toys as it begins efforts to attract early Christmas shoppers.
Each of the “popular” toys is priced at $10. The toys are:
– Barbie and (her dog) Tanner, Mattel
– Barbie Mariposa, Mattel
– Play-Doh Ice Cream Shop, Hasbro
– Assorted Littlest Pet Shop VIPs plush, Hasbro
– Hot Wheels Trick Tracks, Mattel
– Hot Wheels Beast Bash, Mattel
– Fur Real Newborn Animals, Hasbro
– Tonka Light and Sound Vehicles, Hasbro
– Doll Stroller, manufacturer not announced
– Bakugan Battle Brawlers, Spin Master
According to a Wal-Mart survey of 1,000 adults living in the U.S., consumers said they will start their Christmas shopping earlier and make other changes to help stretch their holiday cash this year. To help consumers stretch those dollars, Wal-Mart’s website will offer free shipping through its Site to Store program on “thousands of toys.”
"As consumers face higher prices for energy, a credit crunch and food inflation, we're working to provide low prices on both everyday needs and on things people want so they can live better," said John Fleming, Wal-Mart’s executive vice president and chief merchandising officer. "Consumers know we've been on their side all year with great brands, every day low prices and our Rollback program. And this Christmas will be no different."
Among the holiday shopping survey’s other findings was that more than one-third of respondents said they buy holiday gifts for their children first, followed by those for a spouse or significant other and a parent. It found that women were much more likely to buy a present for one or more of their children first (43 percent vs. 25 percent), while men are most likely to buy a present for their spouse or significant other before (28 percent vs. 8 percent) shopping for their children.
Sixty-one percent of respondents, according to the survey, do not plan on making cut-backs on how much they spend this holiday season. Among those who do plan to cut back, they said they would cut back on spending by $50 or less. To help deal with the weakened economy this season, however, more than one-third of respondents plan to purchase less expensive items (39 percent), to start their Christmas shopping earlier (35 percent) or to purchase presents for fewer people on their list this year (35 percent).
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