Walmart took a gamble during the 2011 holiday season, giving shoppers the lowest price on any given item, regardless of when they purchased in the holiday season. The tactic had mixed results – while the retailer's revenue declined 15 percent year-over-year, it also gained customer traffic for the first time in several years.

The international retail chain accounts for approximately 10 percent of all nonautomotive retail sales, which means customers in general are looking to shop more – provided they are getting the best deals. Net income was approximately $5.1 billion for the three-month period ending on January 31, with new Walmart stores enjoying a 1.5 percent revenue increase.

"Core customers remain cautious about their finances," said Mike Duke, president and CEO of Walmart Stores. "They rely on Walmart's (everyday low price) promise to help them manage through today's economic challenges."

Some retail chains made note of Walmart's promotion and are trying to incorporate that into their operational plans. For example, JCPenney recently began offering specific sales days year-round to generate consistent in-store traffic.