Some 86 percent of Walmart shoppers no longer believe that
the retail behemoth has the lowest
prices, according to a new survey by WSL/Strategic Retail.
“The world’s largest retailer is certainly not going to disappear,”
said Candace Corlett, president of WSL/Strategic Retail, in a statement.
“However, it will no longer dominate the U.S. retail landscape the way it once
did. Consumer product companies and other manufacturers need to analyze their
exposure and re-evaluate the way they do business with Walmart.”
The survey found that many Walmart shoppers are turning to dollar stores. The
survey found that many Walmart shoppers said that dollar stores have lower
prices than Walmart, more national brands than they used to carry, are nicer to
shop, and are now more mainstream.
The survey also found that many of Walmart’s shoppers are
financially squeezed, with 82 percent saying they haven’t seen any improvement
in their financial situation in the past year, and 70 percent not expecting
their finances to get better next year.