Word: walmarts
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...this year, you might have thought that Best Buy would use its "last man standing" status to its advantage and hold firm on prices. But other retailers decided they wanted a piece of Circuit City's pie. And to the benefit of holiday shoppers, one of those retailers is Walmart. For example, according to the website TVpredictions.com, Walmart offered a Blu-ray player for $78 on Black Friday, raised the price to more than $100 over the next few weeks and then lowered it back to $78 last Saturday. Best Buy has insisted that it will match its competitors' prices...
Best Buy, Walmart and Amazon were the shining stars as all three successfully used heavy marketing strategies and doorbuster prices, especially in electronics, to lure shoppers. (See TIME's 2009 holiday gift guide...
...Walmart and Amazon were the wild cards, though, as both challenged electronics retailers on price every step of the way, allowing them to gain market share in the electronics sector. Walmart was especially competitive. "Walmart's [average] prices were 3.5% below Amazon, 4.2% below Target and down double digits compared to both Kmart and Toys "R" Us," said Goldman Sachs analyst Adrianne Shapira, in a note. "Walmart left no doubt as to who was the pricing leader...
Already, retailers are moving aggressively. On Cyber Monday HP was offering a 15.6-in. laptop for $299.99, BestBuy.com was touting a 22-in. Toshiba LCD TV for $279.99 with free shipping and Walmart was hawking a Nintendo Wii "Value Bundle," including the console and several games...
...benefits have flowed in both directions. Take Walmart. By some estimates, over the past several years, the retailer alone has accounted for 15% of U.S. imports from China, which would mean in excess of $30 billion this year. As those goods enter the port of Long Beach, Calif., they require American workers to offload them, American trains and trucks to ship them and American workers to sell them. None of those facts are visible in the trade statistics, yet they are real. And take a company like Schnitzer Steel of Oregon, a once regional company that collects and sells scrap...