Walmart’s stock was recently downgraded to a neutral rating due to falling sales. While the retail giant isn’t exactly in danger of going out of business, some people have been reportedly been abandoning big box stores like Walmart for years in favor of online and specialty retailers. So just how much is the retail giant’s clientele changing?
In Ask Your Target Market’s latest survey, 45% of respondents said they shop at Walmart often. 34% said they sometimes shop at Walmart. 11% said they rarely shop at Walmart. 4% said they have shopped at Walmart in the past but don’t anymore. And just 6% said they’ve never shopped at Walmart.
In general, 28% of respondents said they shop at Walmart more often now than they did a couple of years ago. 30% said they shop at Walmart less often than they did just 2 years ago. And 42% said they shop there about the same amount as they used to.
Big Box Stores
Though it’s certainly the largest, Walmart isn’t the only big box store that has reportedly been experiencing lower sales recently. Just 16% of overall respondents said they often shop at other big box stores such as Target. 43% said they sometimes shop at these other stores. 33% rarely shop at big box stores other than Walmart. And 8% said they never do.
So what are the reasons behind the perceived slow in sales? Are online and specialty stores to blame or could Walmart potentially have a brand perception problem? 22% said that their brand perception of Walmart is very positive. 32% said they have a somewhat positive opinion of Walmart. 25% described their brand perception as neutral. 12% said they have a somewhat negative opinion of Walmart. And just 10% said they have a very negative opinion of Walmart.
You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.
What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.
Results were collected on August 4 via AYTM’s online survey panel.