Wal-Mart Outshines Economic Gloom

Ad Feedback

CBNNews.com - The 2008 Christmas shopping season has been a dismal one for most retailers, with one exception.

While sales are down in almost every category, Wal-Mart is still going strong.

More than 135 million Americans shop there each week. The retail giant's sales were up three percent last month.

But even there, signs of consumer stress are showing. Eighty percent of Wal-Mart shoppers say personal financial security is their number one concern. Fewer Wal-Mart shoppers are using credit cards.

"Credit is being used a lot less. But we're seeing a lot more shopping with cash," said Stephen Quinn, Chief Marketing Officer, Wal-Mart

Another change in shopping habits: sales of generics are growing at two and a half times the rate of the more expensive name brands.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBNNews.com

CBNNews.com

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.