Wal-Mart lowers prices on 16,000 BTS items

BENTONVILLE, Ark. —Wal-Mart plans to combat the high price of gas by slashing prices on back-to-school products in a program it launched July 24.

Wal-Mart plans to lower prices on more than 16,000 items across all product categories in conjunction with a new ad campaign designed to teach consumers how to save money. Under the new pricing plan, consumers spending just $1 will be able to buy four notebooks, two 4-ounce bottles of Elmers’ glue and a 24-pack of crayons. A purchase of $50 can buy a week’s worth of back-to-school clothes, and $80 will be enough to buy two pairs of prescription eye glasses at Wal-Mart’s Vision Center.

“We’ll provide families with savings where it counts and continue to work closely with key suppliers, reduce packaging and lower shipping costs as we steer this program through the fall and beyond,” said Wal-Mart chief operating officer Bill Simon.

A study conducted by BIGresearch in July estimated that families with school-age children would spend an average of $563 on back-to-school clothing and supplies this year. Meanwhile, the average price of gas remains close to $3 and isn’t expected to drop very far this fall.