Americans are gripping their wallets with tight fists as they wade out the current recession. But Americans aren’t just concerned about saving money. American adults have to work as many hours as possible to pay the bills and afford the necessities, so time is more valuable than ever. Leisure time is particularly precious during such a stressful time, so people do not want to spend it running errands in all sorts of different stores.
This behavior is reflected in the food industry. Over the past few years, food sales have been dropping in traditional grocery stores and increasing in stores like Wal-Mart and Costco. Americans can’t resist the wholesale bargains. As Sarah Skidmore of abcnews.com explains,
“Wholesale clubs have been one of the stronger performers during the economic downturn as they used their size and low-cost format to deliver deals that appealed to cost-concious consumers.”
Not only do these stores lure penny pinching Americans with their lower prices, but they also have the “one-stop-shop” appeal – you can get your groceries, your clothes, and your school supplies all in one place. And Wal-Mart is about to become even more enticing as the Food Institute confirms that the corporation’s COO, Bill Simon, is making significant price cuts to merchandise.
Wal-Mart has honed in on this lethal combo of saving time and money in their advertising techniques. Check out this recent television commercial that features a mom boasting about how she got food and all other party essentials at Wal-Mart (WARNING: May disturb those with clown phobias).
