Wal-Mart to offer 100 toys for $10 during holidays
BENTONVILLE, Ark. — Wal-Mart Stores Inc., the world’s largest retailer, said Wednesday it will offer more than 100 toys at $10 during the key holiday season.
Wal-Mart is offering the promotion to attract recession-weary shoppers during the crucial holiday season, when toy retailers record up to 40 percent of annual sales.
Additionally, Walmart stores will match any local competitor’s advertised offer on the same toy product if it falls below $10. That offer will expire after Christmas.
During last year’s holiday season, the Bentonville, Ark.-based retailer promoted just 10 toys at the $10 price.
The toy push comes as Wal-Mart works to hold on to gains it has made during the recession as bargain-conscious consumers have traded down to cheaper products and focused on the necessities — both its specialties.
Wal-Mart Chairman Robson Walton said Wednesday that “sales have been tough,” despite gains from its Asian operations.
“I think this recovery is going to be a slow one,” Walton told a global CEO business conference in Kuala Lumpur, Malaysia.
Some of the toys Wal-Mart is promoting this holiday include Barbie Cut and Style Rapunzel, a Play-Doh Burger Builder Set, Transformers Revenge of the Fallen Deluxe Action Figures, and My Little Pony So Soft Newborn.
Several board games are available for $10, including Connect 4, Battleship, Monopoly, Trouble and Jenga, among others.
After last year’s dismal holiday, toy retailers are ramping up competition for consumers’ dollars as the crucial holiday season approaches.
Wal-Mart’s promotion comes as Toys R Us is aggressively expanding shelf space, opening 350 pop-up stores in malls and at its Babies R Us locations, while Sears will offer toys at 20 of its stores.
Most economists’ predictions call for holiday sales to be flat at best when compared with a year ago.
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