Walmart

This past week we were assigned to find a current event related to strategy and do a presentation about it. I was reading about how Walmart tried to copy Target's strategy as their new strategy. Walmart is known for having really low prices, and an extensive variety of products. The reason why they have such loyal customers is because they have stayed with their proved strategy. Switching their market to more chick products, and raising their prices a little has greatly disappointed their loyal customers. "The customers did not leave Walmart, Walmart left the customers". This strategy switching has made them realize that they need to stay with what they know works, instead of trying something new. The problem lies in the fact that this issue has already make them slow their growth, lose customers, decrease stock price and the need to come up with a new strategy. Because now there are so many cheapo stores where you can find everything, for Walmart to go back to that strategy would not be that smart, so they would have to start innovating. The only question for Walmart is, how long is it going to take to switch back to a new strategy? What is going to happen mean while?