TORONTO (Reuters) - Walmart Canada launched a new logo and slogan on Friday and said it would slash prices on 20 percent of its products as it tries to woo more recession-wary customers into its stores.
Walmart Canada, a subsidiary of U.S.-based Wal-Mart Stores, said the slogan "Save money. Live better," takes effect next week.
The updated slogan brings it into line with its U.S. counterpart, which has been using the slogan for about a year.
"We saw it as a perfect fit for the Canadian market and the Canadian psyche," said Walmart Canada spokesman Kevin Groh. "For a lot of Canadians, saving money is living better and so we think it's a tagline that fits the Canadian consumer mind-set almost uniquely and perfectly."
The company also said the campaign would include an updated corporate logo in all of its advertising and stores. The logo eliminates the hyphen from the name Wal-Mart, and replaces the star that appears in the name. It also includes new colors and an asterisk-style spark at the end of the name.
Groh also said the Canadian chain would roll back prices on 20 percent of its products this year, including electronics, apparel and food. He said the level of the price cuts would depend on the product.
Reporting by Scott Anderson; editing by Peter Galloway