Recognizing that American consumers are “under renewed economic pressures”, Walmart CEO is confident that his scenario “could work in Walmart’s favor.”
In short, what’s bad for consumers could be good for Walmart. What a lovely and empathetic sentiment.
Mr. Duke, I wish you could be poor enough for one month to know what it feels like to run out of cash at the end of the month, as you so accurately portray the condition of the average Walmart customer. Do you really think that people who don’t have enough money for gas actually have enough money to shop at Walmart?
Maybe you didn’t mean what you said. Or maybe you didn’t mean it the way it came out. Or maybe you weren’t thinking clearly considering your audience (attendees of the Barclays Capital Retail & Restaurants Conference on Tuesday). I understand that you are a businessman and that your priority goals involve sales and profitability, but dude, show a little compassion.
If you really want to attract more customers to Walmart for all their shopping, and you want to ease their financial pressures, install a few Walmart gas pumps that offer a free gallon of gas for every $20 spent on Walmart products.
In America we call that “give and take.”