2007-11-10, Walmart: Low Costs and Go Global（在线收听） |
| ... morning associates. Need all available associates, all department managers. Back at a supercenter in Bentonville, employees gather for the morning meeting. ... please for the morning meeting. A daily ritual at 5,000 Wal-Mart stores all over the world. It's part of the Wal-Mart culture. Morning, everybody. Good morning, Dan! Everybody doing alright? Ok, let's talk about sales. Hey, we had a pretty good day yesterday. We were up 6.5%, meat was up 19.2%. Yes, a great job in our meat department. It's a pep rally around Sam Walton's low cost, low price formula for success. Way to go! Who else's got an item? 88 cents, has an 85.38% mark, great item. Great item. Alright! They are a dollar and a half, for 24 and a 30% mark. All right, good item. 96 cents Piriton socks. It is a 40 gram... Pay close attention, what they are talking about is how Wal-Mart pulls in millions of shoppers by touting what it calls, the opening price points. Awesome. Here we have Simply Basic socks for your dollar above with 94 cents. (Awesome!) We sell in all the colors, we sell about 60 pairs a week. OK. Opening price points are the rock bottom prices that Wal-Mart showcases in special displays. The 9-dollar-14-cent saucepan, "Trick or treat" Jack O'laterns for 78 cents. The opening price point is clearly a foundation of who we are and how we interact with our customers. We feel that they need to have the best product, the best value and the best price we can achieve. It's the heart of Wal-Mart's pricing strategy. Wal-Mart puts tremendous amount of planning, organization and thinking into what their opening price points are gonna be based on last year sales, based on customer request. Every line of goods has an opening price point, the cheapest item in the line. For example, this 29-dollar-and-87-cent microwave oven. It's a good price, but it's also the bait to lure customers to that department. This will get you in, you look at that and you think "Wow, what a great price". Then they got you because you walk about ten more feet, and you see the item you really want, that same category. Then you buy that item but it is not gonna be probably, the lowest price in town. So are you saying that the opening price is a lowest price and acutally will beat the competition, but maybe other items in the same category aren't necessarily the lowest prices. No, absolutely not, once you walk past that opening price point they got you. Because you've already formed the perception that everything in that department is the lowest price in town. And maybe it is not. No, it is not. No, I can tell you it is not. I can tell you from experience: it's not. |
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