Wal-Mart recently hired the Martin Agency in Richmond, Va., to help it recover sales growth. It looks like one of the first things Martin is doing is to help Wal-Mart decide on its core customer base, and use a new slogan: Saving people money so they can live better lives.
It’s interesting to see how Wal-Mart has decided to segment its customers as more than just a herd of low price-obsessed proles. (Let’s be real — everyone who lives near a Wal-Mart, and doesn’t have a wide selection of other big-box retailers nearby as alternatives, buys at Wal-Mart.) Here are the categories:
brand aspirationals (people with low incomes who are
obsessed with names like KitchenAid)
(wealthier shoppers who love deals), and
value-price shoppers (who
like low prices and cannot afford much more).
These are useful categories for many other retailers who use low prices as their USP to think about. It will certainly be interesting to see how successful Wal-Mart is at improving sales, by changing their advertising, product selection and store configurations based on these categories. I’ll be watching (yes, I shop there too!)