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Price slash in Wal-Mart stores

By Bao Wanxian (chinadaily.com.cn)
Updated: 2008-12-12 13:29

Global retail giant Wal-Mart Stores Inc yesterday said it has mounted a large-scale marketing campaign to boost sales in China to help counter impact of the global economic downturn.

The campaign focuses on the discounting on a wide range of products. The price slashes went as deep as 20 percent for some merchandise, the Beijing News reported Friday.

Xu Shufang, vice president of Wal-Mart's marketing department, was quoted by the newspaper as saying: "We will work in partnership with our suppliers to promote sales at a time when economic uncertainties are putting pressure on the domestic retail market."

Other major retailers, Carrefour and Wu Mart supermarket, are not known to have taken similar action.