End of an era at Wal-Mart
Another reason for this, feel analysts, is that Wal-Mart is changing tracks and targeting the more upmarket urban customers (the laya- way service was chiefly aimed for the rural markets). For instance, it is estimated that Wal-Mart’s shoppers, on an average, have a household income of around $30,000 to $35,000 a year, compared to Target Corp’s shoppers who have between $50,000 to $60,000. That apart, the chain has said that the demand for this service had been suffering a decline as consumers were turning to other alternatives, including online shopping, shopping cards and no-cost credit – services that were not around when the company initially set up the shop.
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Source:- IIPM Editorial
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