WalMart’s new every day low prices campaign to reverse its two-year slide has put the chain’s Value perception back on track over the past two weeks.
After its Project Impact to unclutter the aisles and appear “upscale” with higher prices backfired with revenue declines, WalMart scrubbed it and rolled out a new campaign with five 30-second ads proclaiming “Low Prices. Every Day. On Everything.”
While taking a financial hit, even the company’s chief merchandising officer told the Associated Press recently: “We have lost our customer confidence ... in having the lowest price.”
WalMart’s new campaign helped lift the chain’s value perception with adults 18+. During the time period, WaMart’s value score surpassed the discount store sector average and rose above Kohl’s before going on to briefly touch leader Target’s score. It has more recently drifted down to be neck and neck with Kohl’s.
While WalMart’s current value score of 35.9 is well above the discount sector average of 22, it remains to be seen whether they can keep their perception elevated and translate it into sales.
YouGov BrandIndex's measurement scores range from 100 to -100 and are compiled by subtracting negative feedback from positive. A zero score means equal positive and negative feedback. WalMart and other retailers were measured using YouGov BrandIndex’s Value score, which asks respondents: "Does it give good value for what you pay?"
