Read any advertising trade publication, and you will hear reports (ad nauseum) of major national advertisers that have cut their annual advertising and promotional budgets. A notable exception is Bentonville, Arkansas based Walmart. Walmart has actually increased their advertising budgets by approximately $300 million while their major retail competitors have dramtically reduced their ad expenditures. Walmart repoirtedly spends only 0.5% of gross sales on advertising compared to 4.5% at Macy’s and 2% at Target.
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