November 29, 2004

WalMart sales as an economic indicator

Bunk... Some people have been saying that the economy is slowing and using WalMart's slow Black Friday sales as an example. Howard at Oraculations has a good comment on this: bq. WalMart sales....don't believe the bullshit. Internet sales are flying and there is no way to count them. They are so good we all better be ready for sales taxes on what we buy. This is the last year you will be able to buy a TV or computer without tax, so buy it. The "slump" in WalMart sales could also be a part of a general trend to buy more upscale merchandise by people who are employed and have more money to spend. Most WalMart stuff, while good, doesn't really cut it. Other thought's I have had are that WalMart really didn't offer any decent discounts on Friday -- many stores offered a couple of really tantalizing loss-leaders to lure people in. WalMart didn't. Also, given WalMart's shoddy practices tot heir employees and the cluttered confused state of their stores, maybe people are just not shopping as much at WalMart. Costco offers decent prices but they pay their employees really well and give great benefits. The stores show this by having enthusiastic employees. Posted by DaveH at November 29, 2004 8:45 PM