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Seventy-three percent of CMOs say that discounting and promotions will be more prevalent this year due to the current credit crunch, according to a survey from BDO Seidman, and Wal-Mart may be proving that prediction true on its own. The retailer is getting a jumpstart on the season by offering super-sized discounts - for example, a laptop will cost $350 - three weeks earlier than usual, beginning tomorrow instead of Black Friday (the day after Thanksgiving).
Wal-Mart’s “Save Money. Live Better” campaign breaks today on the web, via magazine ads and newspaper circulars, and on signs in stores. It is the first holiday campaign for the Martin Agency, which won the estimated $600 million account in January, writes the New York Times.
Print ads will appear in Better Homes and Gardens, Family Circle, Parade, People and Redbook. TV ads will appear on ABC, ABC Family, CBS, CMT, CW, Discovery, E!, ESPN, HGTV, Lifetime, NBC, Nick at Nite, TBS, TLC, TNT and USA.
The campaign is more mainstream in its approach than others - like the Geico gecko and caveman ads - the Martin Agency is known for. It is meant to reflect the retail giant’s heartland roots.
The campaign includes ads aimed at Hispanic consumers, from Lopez Negrete Communications; black consumers, from GlobalHue; and Asian Americans, from the IW group.
Wal-Mart’s success or failure will be watched closely. Growth in holiday spending is expected to be down this year as shoppers are hit with rising energy prices and a tough real estate market. How Wal-Mart fares at Christmas may be an indication of the health of the American retail economy as a whole.
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