A Wal-Mart (WMT) executive said yesterday that the company would introduce $1 aisles in some stores, a move to compete with all the dollar stores out there, and attract those consumers that are too low-end even for Wal-Mart. Yes, it’s a sign o’ the times and all that.
But to really put it in perspective, you have to think about how the company was planning to expand its demographic barely more than one year ago.
In 2007 and early 2008, the company was actually talking about attracting high-end yuppie customers.
Some Wal-Marts even installed sushi bars. Seriously, sushi bars at Wal-Mart.
It’s hard to think of a better symbol of faux-rich America, than subprime home owners wolfing down unagi at the local Wal-Mart supercenter.