It`s a funny old world with more questions than answers, and when we find Wal-Mart selling $46,000 watches online, who is buying them, you might ask?
$46,000 Watch At Wal-Mart
I`m not one to stereotype anyone unless forced into a corner and given no choices, but the story of Wal-Mart selling a $46,000 Cartier and other assorted jewelry on their website puts a rather large question mark over their marketing strategy.
Wal-Mart has been with us for nearly 50 years now, supplying goods and dominating the US retail industry, successfully competing against and destroying their smaller local neighborhood stores. As a result of stack them, high and sell them cheap, strategy Wal-Mart has secured half a trillion sales which is `space miles` big.
Ok, so they are big, really big, supplying cheap goods to millions of Americans, so what`s the big deal?
All this time the marketing and products have been firmly based on the budget, value for money product range aimed at providing for low-income working people. This is all a perfectly sound idea and worked well until something strange happened.
Black Friday & Cyber Monday
This Black Friday saw a break in the tried and tested marketing strategy and the sale of high-end, luxury products went on sale online. The case in point, a Cartier Watch priced at $46,000.
Don`t get me wrong but I am unsure how these two worlds might collide and work in harmony. Not for any existence of intolerance between the two dissimilar markets, but just for the fact that someone spending $46,000 or more is not going to look to Wal-Mart as their first choice.
In this price range, a buyer wants to be part of the process, they want to be looked after by a motivated and dedicated sales representative, luxuriate in the opulent surroundings of an upmarket boutique. In short, they want to be told they are the most important person on the planet.
Now, however, you slice the cake, I`m sorry, but that`s not the experience you`re going to have shopping at an online general store. To put the final nail in this particular coffin, there`s no way your average Wal-Mart shopper is going to find a 40 grand under the mattress and come the conclusion the money is best spent on watches and jewelry. It doesn’t make sense, even with the lower priced $18,000 Cartier it hasn`t gone completely unnoticed by Cartier, who, themselves have something to say about it.
What`s The Reason?
One can only surmise the marketing department at Wal-Mart were temporarily feeling somewhat tired and, or emotional at the time of making such a rookie mistake, but I guess we will never know.