Thriftiness on Special in Aisle 5
New York Times, October 14, 2008 — While it might seem counterintuitive for stores to teach shoppers to cut their spending, several chains have concluded that providing such knowledge can spur loyalty and keep customers from trading down to cheaper competitors.
So the Stop & Shop grocery chain is offering “affordable food summits” where consumers are taught how to lower their grocery bills. Home Depot offers classes on how to cut energy bills. And Wal-Mart Stores hired a “family financial expert” who has used online chats to teach several thousand shoppers how to save money for college, whittle away debt and sell a house.
The retailers say their advice is neutral, not specific to any store — but they are always careful to point out money-saving items that their stores carry. The idea is to earn the gratitude of customers and ensure that when they do spend money, some of it will be with the store that sponsored the class.
