Laugh & Learn
Lots of people like to laugh at Walmart – ‘The People of Walmart’ is a never ending and much viewed video and meme.
That aside, is there a couple huge ideas a salon can learn from Walmart – the biggest retailer in the world, the chain that gets 150 Million shopping trips, every WEEK?
- Which customers to target:
- Founder Sam Walton said he catered to middle and lower income people because “God seemed to make a lot more poor people than rich people.”
- Young people (college, high school, millennials) and women 35+ from with middle-lower income don’t have much money, and cannot afford to pay $30+ for a spray tan, nor join EFT.
- EDP (Every Day Price):
- Walmart uses a ‘same price every day’ strategy – they proved that people shop more often when they know their fave products have a reasonable and affordable price, EVERY DAY.
- EDP makes it easier for shoppers to budget and makes them more likely to make impulse visits to the store/salon.
- Walmart uses a ‘same price every day’ strategy – they proved that people shop more often when they know their fave products have a reasonable and affordable price, EVERY DAY.