Wal-Mart Taps 'Inner Skinflint' Amid Downturn

Economy woes play to mega-store's strengths, Newsweek scribe says
By Sam Gale Rosen,  Newser Staff
Posted Feb 28, 2008 4:55 PM CST

(Newser) Newsweek blogger Daniel Gross asks why Wal-Mart, with its sales increasing, appears to be untouched by the US economic slowdown, and comes up with four answers. One, the behemoth mostly sell necessities. Two, its cheaper-than-thou branding is attracting pinched customers. Three, investors like Wal-Mart's prospects down the line. And four, the store is becoming increasingly international.

While Wal-Mart's sales aren't necessarily rising quickly, they're rising steadily, and are likely to keep rising, Grossman says, as "consumers are embracing their inner skinflint." He also points out that the hoped-for economic stimulus may end up a big boon for Wal-Mart, as money is funneled to families lower on the economic scale.