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By the end of the year, the company that built nearly
$200 billion in sales on such mundane products as paper plates and
lawn mowers will unseat General Motors Corp. as America’s
largest company. Wal-Mart Stores Inc.’s rise to the top isn’t just a sign of the retailer’s mastery of “everyday low prices,” powerful logistics systems and cutting-edge technology. It also reflects Americans’ continuing love affair with the discount sector, which is tapping into the increasingly sophisticated tastes of budget-conscious consumers. “Wal-Mart has given consumers a new and appealing connotation to value, and in the process raised the stature of discounting,” said Kurt Barnard, publisher of Barnard’s Retail Trend Report, based in Upper Montclair, N.J. “Discounters used to be places to go because you couldn’t afford shopping anywhere else,” said Wendy Leibmann, president of WSL Strategic Retail, a consulting firm based in New York. “Now it’s a sign of a smart shopper.” |
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