Survey: Price Hikes Cut Spending
New York City As a two-thirds majority of Americans brace for recession by cutting spending, an ominous forecast projects that price increases of 15% to 20% for consumer goods will halt spending in key product categories, according to a survey called “The Culture of the Recession,” conducted for trend-forecasting consultant company Faith Popcorn’s BrainReserve.
Of the 1,011 adult men and women surveyed (between May 29 and June 6), 84% said they have already modified their shopping habits, making fewer trips and less stops and sharply decreasing spending from food purchases to luxuries. Consumers reported that a 5% price increase triggers spending cutbacks across categories; while dramatic cuts, of up to 50% in non-essential spending, occurs at 10% price increases.
Meijer launches Grocery Express service
GRAND RAPIDS, Mich. Meijer has launched its Grocery Express service, which allows shoppers to select grocery and health and beauty care products online at www.meijergroceryexpress.com, and then have them delivered to their car at a designated location within the store’s parking lot.
The program, which began Sept. 9, is exclusive to the Knapp’s Corner Meijer store located in East Beltline, NE.
The charge for an individual order is $6.95. The program also offers a $24.95 monthly subscription for unlimited orders. Meijer said it will accept debit or credit cards, EBT Cash, EBT Food and checks as forms of payment.
“Grocery Express is another example of the ways in which we’re looking to accommodate our busy shoppers,” said Rob Fleener, vp of marketing and e-commerce at Meijer. “People can shop online and three hours later they can pull up to the store and receive their order hand delivered by a personal shopper. It’s a great convenience for customers.”
Hong Kong chosen as Wal-Mart Asia HQ
HONG KONG Wal-Mart has established its new Asia regional headquarters in Hong Kong, which will have strategic responsibilities for managing the company’s current operations in Asia and for business development, Wal-Mart Asia president and ceo Vicente Trius announced at a press conference this week.
“Just as the Wal-Mart America’s regional office in Miami oversees the company’s operations in Canada, Central and South America,” Mr Trius said, “The new Wal-Mart office in Hong Kong will oversee the company’s operations in Mainland China, India and Japan, as well as identify new business opportunities for the company throughout Asia.”
Hong Kong, according to Trius, was chosen for its central location and easy access to markets across the region.
And Wal-Mart is not only in looking to Hong Kong, about 3,900 overseas and Mainland companies operate regional headquarters or regional offices in Hong Kong.
Wal-Mart Asia’s vp of people, Brian Walker, commented, “With an abundant pool of talent and professionals in the city, Wal-Mart is able to recruit the right local staff for our regional headquarters. In addition, Hong Kong is equipped with excellent transportation, communications and technology infrastructure, which are essential tools for our regional management team.”