Wal-Mart is looking to jump-start holiday sales by expanding last year’s $10 toy incentive tenfold writes CNNMoney.com.
The world’s largest retailer said it will offer 100 toys, from Barbies to Transformers, for $10 through the Christmas holiday. Last year, the program included only 10 toys.
The company decided to expand the $10 program and roll back prices “at a time when our customers were ready to make purchases,” said Laura Phillips, Wal-Mart’s vice president of toys, in a statement.
Wal-Mart said research has shown that 70% of its customers plan to start shopping for holiday items before Halloween.
Holiday sales, which are largely driven by toy sales, can account for half of annual profit at many U.S. retailers.
Photo by Wal-Mart.