NEW YORK (CNNMoney.com) -- Wal-Mart is looking to jump-start holiday sales by expanding last year's $10 toy incentive tenfold, the company said Wednesday.
The world's largest retailer said it will offer 100 toys, from Barbies to Transformers, for $10 through the Christmas holiday. Last year, the program included only 10 toys.
The company decided to expand the $10 program and roll back prices "at a time when our customers were ready to make purchases," said Laura Phillips, Wal-Mart's vice president of toys, in a statement.
Wal-Mart said research has shown that 70% of its customers plan to start shopping for holiday items before Halloween.
More than half of Wal-Mart shoppers have already started budgeting for their holiday shopping, and nearly 40% say they are watching for deals, according to the company.
Hoping to attract shoppers. The incentive plan comes as retailers prepare for what is expected to be a lackluster holiday shopping season. Holiday sales can account for half of annual profit at many U.S. retailers.
The Bentonville, Ark.-based company said last month that sales at stores open at least one year, a key measure of retail activity, fell 1.2% in the second-quarter versus the year before.
Wal-Mart and other discount retailers had, for the most part, weathered the recession better than their higher end competitors as consumers focused on bargains.
But Wal-Mart's latest sales figures were considered worrisome by some analysts, who had expected same-store sales to rise 1% in the second quarter.
And with unemployment continuing to rise and household budgets still under pressure, many retailers are looking for ways to appeal to price-conscious shoppers, especially with the crucial holiday shopping season quickly approaching.
What's on the $10 list. Under the expanded $10 program, Wal-Mart will offer a "newly released toys, top brands and classic toys that shoppers seek out each holiday season."
Some of the toys are being introduced at $10, while others are being reduced by up to 50%, the company said.
The following is a partial list of the brands being offered:
- New Transformers Revenge of the Fallen Deluxe Action Figures
- Barbie Cut and Style Rapunzel
- Games such as Connect 4, Battleship, Monopoly, Trouble and Jenga
- Vtech Explore and Learn Helicopter
- Tonka Light and Sound vehicle assortment (firetruck, dumptruck, etc.)
- New Littlest Pet Shop Online Animals (virtual pet) or Littlest Pet Shop Playpack sets
- Clean-Up Pup Barbie Play Set and Mermaid Splash & Style Barbie
- New Play-Doh Burger Builder Set
- New Garanimals line Bath Boat (with squirter) and ABC 50 wood blocks kit
- Hot Wheels Trick Track
- LEGO Bionicle Legends set
- New Nerf-N-Force Sword
- My Little Pony So Soft Newborn
- Little Dreams Interactive Baby Doll