Consumers right now are bargain hunters, and that's what Wal-Mart is talking about. If you're offering a bargain and the consumer thinks it will go away, you'll get the consumer to buy, but there is no impulse buying going on.
More Quotes from Delos Smith:
The current average price of 1.90 a gallon is still about 40 cents higher than the level a year ago. So the effect of higher prices will be felt for some time.Delos Smith
The economy is generally chugging along. From the consumers' perspective, jobs remain an important issue. Consumers will also be keeping an eye on gas prices and what happening on the global front in terms of terrorism.
Delos Smith
Does that have economic implications To me, the answer is yes. In a sense, we have to wait for recovery until this group wants to sleep with each other again.
Delos Smith
You want the consumer buoyant. Most consumers are not current-events oriented. When you get everybody involved in current events, when they usually are not, then people are not going to go out and buy things just for pleasure of it.
Delos Smith
In a sense, people have money. But again, you have to think and consider the nervousness if there's another terrorist attack, or if there's mobilization (in Iraq), or you have another sniper attack. We're vulnerable.
Delos Smith
It looks like a nice start but it's hard to tell, hard to have a perspective until we start seeing the cash register receipts. It's hard to tell, but it's perfect shopping weather.
Delos Smith
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