$10,000 Diamond Ring For Sale - At Wal-Mart

[matcom]

<snip>

Sometime soon, somewhere in the country, an aspiring groom will go down on bended knee, present a ribboned blue box to his sweetheart and watch as she beholds the yellow diamond ring on which he spent $10,000.

And unless his fiancée has a highly refined sense of irony, somewhere in that gentleman's mind he'll be hoping she doesn't ask where he got it.

Walmart.com has broken through its own glass ceiling, selling high-priced platinum and diamond jewelry, cashmere sweaters and other goods designed to appeal more to the Tiffany crowd than to the bargain hunters who browse the company's terrestrial stores.

The question is why, and the answer is straightforward: Wal-Mart, the world's biggest retailer, with 1.3 million workers and nearly $300 billion in annual revenue, is reaching out to more affluent shoppers. With disappointing sales of late and its stock price lagging, it has begun displaying more fashionable clothes and more upscale home furnishings in its stores.

Over the last few weeks, it has added luxury items to its Web site as a test. The online store still caters overwhelmingly to buyers' appetite for low-cost deals, from $18 six-packs of boxer shorts to $15 roller-skate kits, just as its stores do. But now, if you look hard, you can also find a Hyundai 60-inch plasma TV with a built-in digital tuner for $7,688, a gift basket of 1,000 fine chocolates for $248 and 100 percent cashmere scarves for $98.88.

http://www.nytimes.com/2005/11/21/business/21ecom.html?ei=5090&en=ea176ee867532bb6&ex=1290229200&partner=rssuserland&emc=rss&pagewanted=print

[bleedingheart]

1. the truly affluent won't buy their diamonds at WalMart

part of the shopping experience for the affluent is the "ambiance" of the place they shop.

[DainBramaged]

2. Ain't that the truth, and Costco will find a way to rub their face in it

Imagine, Mr. Uptight Rethug wants to get something really nice for wifie this Giftmas since he raped his employees better than ever, so he goes to WalPhart to buy her that special diamond.
:rofl::rofl::rofl::rofl::rofl:
Standing on line with the ladies with diapers and the kids with their $.99 cent bag of cookies to buy a $10,000.00 diamond on American Express platinum. What a hoot.

When he gets asked by his golf club buddies at the cigar bar after Giftmas what he gave his little minion machine, think he's going to say he got it from Wal-Mart? And when he has it appraised for his home owners insurance, think he WANTS them to know it came from Wal-Mart??

[Midlodemocrat]

3. Don't be so sure.

I have a friend here who definitely fits into the truly affluent catagory $1 million house, here in Richmond. $3 million beach house, etc.,

She shops at Walmart a lot. More bang for the buck I guess. Her mom does, too, and she and her husband sold their business 25 years ago for $200 million, so I think they qualify as the truly affluent.

[DainBramaged]

4. Wealthy and shopping at Wal-Mart, hmmmmm

they can always make more money but not more time, so she is a rare bird. I'd be interested to see if the thought of buying an extravagant item at Wal-Mart crosses their minds.

[bleedingheart]

5. I work in a wealthy community...and the rich are weird

my office is located in Sewickley PA and there are a ton of little specialty shops and boutiques.

When you buy something at a store...they will wrap it for free...

If anything I find their customer service is lacking because the store owners are as snobby as the rich clients.

There is store where french milled pillowcases start in the $70 range...and from there...the sky is the limit.

They also have a jeweler...fine jewels...and estate stuff..

Now Walmart is coming to their area soon...but yet I don't think it is going to hurt this particular area...because they service a specific set of individuals...

[Zuni]

6. If I could afford a 10,000 $ item, I wouldn't live

anywhere near a Wal-mart in the first place