Small Business Finance News
Sam's Club Tries To Lure In SMBs With Cost Comparisons
Written by James Conroy
Published: 4/30/2009
Sam's Club, the second-largest US membership warehouse club, is working closely with small business owners to help them identify ways to lower costs.
Small businesses have been doing everything they can to make ends meet, which for some has meant cutting back on things like paper towels and coffee for the office.
But wholesaler Sam's Club won't take this lying down and is using $270 million in potential savings to lure in small business owners.
The stores, which are owned by Wal-Mart Stores Inc., are contacting small business owners and comparing the costs of their purchases of everyday items in the hope of bringing some new customers into the store and having old customers come back.
According to the company, the project has so far compared the costs of products at Sam's Club versus other stores for 20,000 small businesses which it says has meant a potential saving of more than $34 million.
Cindy Davis, executive vice president of membership, marketing and ecommerce at Sam's Club says the potential savings could be good news for small business owners.
"Pennies matter more than ever for today's small-business owner and helping them find as much or more than thousands of dollars in savings has a real impact and can mean keeping an employee, expanding or financing a start-up," she said.
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