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Retailers across the United States are closing their doors and their customers appear to be finding their way to Wal-mart. The world's largest retailer gains shoppers as the economy continues to sour, the weekly reports of higher unemployment rates get worse and Congress keeps adding more bailout money, trying to keep the automobile manufacturers out of bankruptcy, the banking system alive and salvaging foreclosed homes.
According to America's Research Group, (ARG) a retail consulting firm that tracks consumer habits, "Every time anything closes, the one store that benefits is Wal-Mart." This is reflected in a ARG survey in 2008 showed that 9 percent of consumers were first-time shoppers at Wal-Mart. So far in 2009, 7.6% of those surveyed were shopping at the giant retail stores for the first time.
Whether these customers will return to stores that give them more of a selection or better customer service if the economy begins to recover is an unknown. Meanwhile, as other long-time names in retailing close their doors, Wal-Mart continues to attract consumers looking for more bang for the buck.
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