Walmart Is No Longer America's Favorite Cheap Shopping Destination
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According to a new online survey, retail giant Walmart is no longer shoppers' go-to for cheap merch. Who has replaced Walmart in the hearts of bargain hunters everywhere? Amazon.com.
According to YouGov BrandIndex, a daily "consumer perception research firm" that interviews 5,000 people every day for their opinions on various topics, in the last two years, Walmart's value score has dropped significantly, from scores in the 50s to a current score of 22, on a scale of 100 to -100.
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Amazon.com's score? 71, up from the 50s a couple of years ago, when it was running parallel to Walmart.
The question YouGov asked to get those numbers: "Does (the retailer) give good value for what you pay?" The results came from Internet shoppers who make $50,000 or less per year.
Walmart, according to a report at DailyFinance.com, has taken a particularly big hit as of late because of the growing popularity of dollar stores, though that doesn't address why Amazon.com has pulled so far ahead of the Arkansas-based retailer.
DailyFinance's explanation for Amazon's surge? "Jeff Bezos, Amazon's quirky CEO and founder, has been building up the e-tailer to be the shopping destination for online bargains on the widest possible assortment of merchandise -- essentially the Walmart of the Web," according to DailyFinance.com.
"Amazon's low-cost operating model isn't weighed down by store operating costs, and the company has made a practice of skirting state sales tax laws to offer shoppers even lower prices."
An online marketing strategist adds, "While the study discusses a low-income shopper, the reality is, the majority of consumers are focused on finding the lowest prices and best deals online. The 2012 consumer is price savvy and is becoming more experienced as to how to bargain shop for products. With the major shift in retail moving online notably over the past 10 years, consumers now have almost 10 years' worth of experience in online shopping and price comparison."