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BENTONVILLE, Ark. -- In a bid to attract the growing number of shoppers who are concerned over the high price of gas, Wal-Mart Stores, Inc. yesterday unveiled an aggressive new program to drive deeper price cuts on key back-to-school items.
The retailer said it will drop the price on more than 16,000 products across all stores this week, with a focus on top brands for back-to-school needs. Also this week, Wal-Mart launches a new ad campaign to tout its new price-slashing efforts.
Wal-Mart said its new price campaign will include savings ranging from 10 to even 50 percent.
Internally dubbed "Operation Unbeatable," Wal-Mart initially launched its aggressive price strategy just before July 4, with so-called “deep-price cuts” on top brands and foods for the July 4 Holiday.
Bright in-store signage and Wal-Mart's newly designed circular addresses the new savings front and center, highlighting the products and brands the retailer knows are top of mind with most consumers. Wal-Mart said Operation Unbeatable will be supported by its “every day low price promise to be the lowest price retailer in any community” through its Ad Match program.
Examples of Operation Unbeatable Back to School values include:
-- $1 buys 4 wide ruled notebooks, 2 bottles Elmer's glue (4 oz.) and a 24-pack of crayons
-- $2 -- buys a 10-pack of #2 pencils, 2-pack erasers and 10-pack Bic pens
-- $5 -- buys a new backpack or a colorful "Munchsak" for snacks and lunch
-- $10 -- buys a Texas Instrument or Casio scientific calculator
-- $50 -- buys a week's worth of school clothes, with shorts at $5 each and shirts two for $9
-- $80 - buys two pair of prescription glasses at the Wal-Mart Vision Center
"We'll continue to be more aggressive on pricing," noted Bill Simon, e.v.p. and c.o.o., Wal-Mart Stores, in a statement, "and already are working with key suppliers on upcoming plans for fall and holiday."
He said Wal-Mart will bring in new price changes week by week, depending on the seasonal need, and focusing on top brands customers want.