Helpful? - Wal-Mart Announces Economic Stimulus Plan for U.S. Shoppers - Or Opportunistic?

As the U.S. government finalizes its economic stimulus plan, Wal-Mart is adding some economic cheer of its own.

Details are in its latest home circular where Wal-Mart says it has rolled back prices on thousands of items giving customers 10 to 30-percent savings right now.

“We all know economic times are tough so our plan is to help with added savings throughout the year, focusing especially on what people ‘need’, when they need it,” said John Fleming, chief merchandising officer, Wal-Mart. “Shoppers are depending on us to deliver the best price so they can stick to their plans, no matter what the economy throws at us. We won’t let them down.”

Against a backdrop of continued talk of a credit squeeze, Wal-Mart is concentrating on savings on the items customers want to buy at this time of year — unbeatable prices for the big game, fitness needs and home products. The retailer also is helping out with those higher-price items, offering no interest for 18 months on purchases of $250 or more with a Wal-Mart Credit Card.

It remains to be seen just how much benefit to the overall U.S. economy these savings might have. According to wakeupwalmart.com who quote a report from the China Business Weekly, 70% of the commodities sold in Wal-Mart are made in China therefore most of the money spent on big ticket items will benefit foreign manufacturers.

At the very least the savings will allow some consumers to carry on spending for a little while longer generating a small feel good factor.

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