Wal-Marts effort to become trendier

The Akron Beacon Journal reports that Wal-Mart is working hard to convince consumers that the store is a great fashion destination too, and not just for basics. Rival Target has already carved a niche for itself for providing cheap chic merchandise, whether it is apparel or home furnishings. Wal-Mart has held a fashion show during New York's Fashion Week, hired a NYC trendspotting company and brought in new brands to improve its image. The company did falter by stocking up too much trendy merchandise, such as the skinny jean, which did not sell well and led to low sales in September and October.

The upgrading of its fashion is part of the company's larger campaign to expand into better quality, trendier merchandise to revitalize anemic sales and sluggish profit growth, a strategy that has gotten mixed grades from its customers so far.

Wal-Mart, which has built its reputation on selling basics like socks and detergent, made a push into $2,000 flat-screen TVs and other trendy electronics, 600-thread count sheets and organic foods. The goal is to pry more money from the hands of its wealthier customers, diversifying beyond its core-low income shoppers who are more vulnerable to economic downturns.