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Updated Sunday, March 14, 2010 12:54 am TWN, By Brad Dorfman, Reuters Wal-Mart losing shoppers as economy improvesIn a survey by America's Research Group, 33 percent of people who shopped more at the world's largest retailer in the last two years said they are now moving back to where they used to shop, at least to some extent. Almost 63 percent said they were staying at Wal-Mart. But a year ago, the number of consumers who said they were going back to stores they had shopped at previously was only about 20 percent, according to Britt Beemer, founder of consumer research firm America's Research Group. “The consumer is starting to fall away in some categories,” Beemer said, adding that some shoppers may still be buying some basics at Wal-Mart Stores Inc, but shopping elsewhere for certain clothes and other items. Wal-Mart's chief operating office Bill Simon said at an investor conference that the company has held on to the new customers it attracted in 2008 during the middle of the recession. America's Research Group asked several questions for Reuters as part of a larger survey the firm conducted on March 5-10, interviewing 1,000 participants. In other questions, 30.8 percent of consumers said they felt better about their own economic circumstances than they did 3 months ago, 47.2 percent felt the same and 21.7 percent felt worse. On Friday, the Thomson Reuters/University of Michigan's Surveys of Consumers showed U.S. consumer sentiment declined slightly in early March, with Americans less positive about the job outlook. More shoppers said they were planning to buy spring clothes this year than said so last year, the latest sign apparel retailers were coming out of a long slump. A total of 57.6 percent of those surveyed said they planned to buy clothes for themselves and 64.3 percent said they planned to buy clothes for their families. Last year, only about 34 percent of consumers planned to buy spring clothes for themselves or their family, Beemer said. The survey has a margin of error of 3.8 percent. Subscribe to The China Post and save 25%. Click here Comments |
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"Wal-Mart China persists in local procurement which provides more job opportunities, supports local manufacture industry and promotes local economy. So far, 95% of merchandising sold at Wal-Mart China store are local products by which Wal-Mart has established business relations with nearly 20,000 suppliers. At Wal-Mart, we treat suppliers as partners and would like to develop with them. In 2008 Wal-Mart won the Supplier Satisfaction published by Business Information of Shanghai for five consecutive years."
Does that support American export and American jobs?
Remember what Lance Winslow wrote in that article "The Flow of Trade in a Global Economy"....dang! better yet...jus take the time and read this ...."Now let us look at Wal-Mart again; you buy a product there, 6% goes to the employees, 10-18% is profit to the company, 25% goes to other costs and 50% goes to re-stock or the cost of goods sold. Of the 50% about 20-25% goes to China, a guess, but you get the point. Now then, how long will it take at 433 Billion dollars at year for China to have all of our money, leaving no money flow for us to circulate? At a 17 Trillion dollar economy less than 40-years minus the 1/6 they buy from us. Some say that if we keep putting money into our economy, it would take forever, but if we do not then eventually all the money flow will go. If China buys our debt then eventually they own us, no need to worry about a war, they are buying America, due in part to our own mismanaged trade, so whose fault is that? Not necessarily China, as they are doing what's in the best interests, and we should make sure that trade is not only free, but fair too."
Also, think for a moment about George Washington....yes the man that is on the US dollar bill....
Take the time to read his farewell address after only eight years of serving his country and than ask yourself this....How do you think George feels being sent overseas in return for all that foreign so-call cheap items and being left in a foreign bank because the American worker doesn't make anything for the foreigners to buy.
You can't have a strong country without having a strong currency and you can't have a strong currency unless you keep it floating around within your 50 states. This is why the store with the star in the name puts 95% China made items in their stores in China....to keep their "yuan" in their country helping the nice people there. And with only 5% left for all the other 182 country's that make stuff including the United States of America....that doesn't produce very many jobs outside of China.
Being an old person myself and knowing how it was back in the 40's, 50's and 60's in this union of 50 states....I look at George each time I pull him out of my billfold and make a promise to send him out for items made in America so after floating around helping each hand he touches just maybe one day he will shake mine again.