Simple Wal-Mart arithmetic | Arkansas Blog

Wednesday, August 26, 2009

Simple Wal-Mart arithmetic

Posted By on Wed, Aug 26, 2009 at 9:37 AM

A penny saved by a consumer is a penny earned by Wal-Mart.

Everybody from hometown newspapers to national TV networks trumpeted a Wal-Mart news release yesterday that said it could save consumers $100 million by starting bill-paying services in Wal-Mart stores.

I haven't yet turned up a link that followed through on the math. If consumers now spend $290 million on bill-paying fees, as a Wal-Mart-commissioned study indicated, that leaves $190 million on the table for Wal-Mart. Not to mention a few more pennies from the shopping done by the consumers who drop by a Wal-Mart to do the bill paying.

Don't get me wrong. This the free market at work. Just don't confuse it with charity. And it moves Wal-Mart ever closer to the full roster of banking services it longs to be able to provide someday.

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