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Quoted – Target making inroads into Walmart’s base, survey finds

May 10, 2010 by 6 Comments
Wal-Mart location in Moncton
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Everyone loves to hate Walmart, and yet the Goliath has always been the undisputed retail leader with unbeatable prices and customer base. But could that be changing?

The other area where Target is scoring is store locations, said Scott Testa, professor of business administration at Cabrini College.

“Walmart wants to be in the outskirts, where there’s not a huge population density,” Testa said in a phone interview. “Target is going where Walmart isn’t — more dense and urban locations.”

But Target still has a long way to go before it can surpass its towering opponent that offers eye-popping deals. For now it seems to be putting up a good fight.

http://www.walletpop.com/blog/2010/05/05/target-making-inroads-into-walmarts-base-survey-finds/

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Quoted – 6 Old-School Savings Tricks Are Back – SmartMoney Mag

September 14, 2009 by 6 Comments
A typical flea market shop, in Germany
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Quoted – 6 Old-School Savings Tricks Are Back – SmartMoney Mag

It’s no secret that consumers have grown more frugal: Excessive spending is out and saving is in.

Like fashion, spending trends often cycle in and out, but what’s interesting about this go-round at frugality is how it’s playing out. Old savings strategies are seeing a resurgence, and some of the most popular tactics – couponing, layaway and haggling – date back to prior recessions.

Will those practices someday go the way of padded shoulders and track suits? It may take years or even decades, but the larger population will eventually end up back in the “greed is good” mentality, says Scott Testa, an assistant professor of business administration at Calibri College in Radnor, Pa

In recent years, bargaining for a lower price has been relegated to yard sales and flea markets, but that’s beginning to change. “Now, consumers are much more creative and frankly, much more aggressive about asking for a better price,” Testa says. To retain customers amid slowing sales, even mainstream retailers are open to negotiation on prices — especially if you can point to better deals at a competitor.

Thanks to the credit crunch, retailers and consumers are looking at these old options, which had faded with disco. “They went away as people bought things on credit and found other ways to pay,” Testa says. Last year, Sears (SHLD: 64.18, +0.34, +0.53%) and Kmart heavily promoted their longstanding layaway programs. This year, they introduced a new Christmas Club that matches 3% of consumers’ savings.

http://www.smartmoney.com/Spending/Budgeting/6-Old-School-Savings-Tricks-Make-a-Comeback/


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