Economic pain is leading to what Eduardo Castro-Wright termed “disturbing behaviors” among shoppers over the past few months.
For instance, more families are buying baby formula at the start of the month when they are more likely to have money. In the past, he said, the chain hadn’t noticed such surges in formula sales.
A double-digit decline in credit card use at Wal-Mart stores in the second quarter this year sharply contrasts with the first quarter of 2007, when a vibrant economy was resulting in double-digit increases in card use.
You know things are getting bad when even Walmart is feeling the pinch. So what do the families do who can’t afford to buy baby formula at the end of the month?