Walmart, the US retail giant, has launched an everyday low prices campaign to reverse its two-year slide, and has put the chain’s Value perception back on track over the past two weeks.
After its Project Impact program, to unclutter the aisles and appear 'upscale' with higher prices backfired with revenue declines, WalMart scrubbed it and rolled out a new campaign in the US with five 30-second TV ads proclaiming 'Low Prices. Every Day. On Everything.'
Even the company’s chief merchandising officer told the Associated Press recently, “We have lost our customer confidence ... in having the lowest price.”
WalMart’s new campaign helped lift the chain’s Value perception scores with US adults. During the time period, WaMart’s Value score surpassed the Discount Retail sector average and rose above Kohl’s before going on to briefly touch leader, Target’s, score. It has more recently drifted down to be neck and neck with Kohl’s.
While WalMart’s current Value score of 35.9 is well above the discount sector average of 22, it remains to be seen whether they can keep perception elevated and translate it into sales.
YouGov BrandIndex's measurement scores range from 100 to -100 and are compiled by subtracting negative feedback from positive. A zero score means equal positive and negative feedback. WalMart and other retailers were measured using YouGov BrandIndex’s Value score, which asks respondents: "Does it give good value for what you pay?"