By: Jennifer Saba Wal-Mart's belated strategy of advertising in newspapers to boost sales appears to have worked.
In rare interviews granted to The New York Times, Wal-Mart executives said they saw immediate results when placing ads in newspapers after a bleak Black Friday.
In one example, Doug Deyn, an executive vice president with the company, told the Times for today's story that the retailer turned to newspapers when it realized people were unaware that 17-inch flat screen TVs were selling for $178.88 each.
The product was featured in full-page ads in selected markets with the heading "Why Wait for Rebates?" Apparently the TVs subsequently sold well.
December results for newspapers have yet to be reported but that month's statistics could get a lift from Wal-Mart's "unexpected schedule," according to a note released by Merrill Lynch yesterday.
Wal-Mart started its ad blitz on Dec. 3. Deutsche Bank reported that the retailer placed buys in "15 major, undisclosed markets."
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