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Walmart wooing wealthier shoppers

June 2, 2009

The Globe and Mail: Walmart Canada Corp. is finding ways to benefit from the downturn as well-heeled consumers switch to the discounter from higher-end chains to buy patio sets, barbecues and other pricier items.

David Cheesewright, chief executive officer of Walmart Canada, said wealthier consumers have helped the chain's sales of patio furniture, for example, rise 34 percent so far this year from a year earlier. As a result, the retailer is stocking more of the higher-priced products to serve the growing demand.

The move is so pronounced that sales of mid- to higher-priced patio sets are selling much faster than lower-priced sets, he said.

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