Walmart’s prices are slowly nearing parity with Amazon’s, as it seeks to regain its crown as the top discount retailer on the back of Amazon’s dominant Black Friday display.
As Reuters reports, Walmart’s online platform is now just 0.3 per cent more expensive than Amazon, compared to its three per cent higher average the year prior. In fact, Walmart’s wearables category is actually 6.4 per cent lower priced on average than Amazon’s, despite being 12.6 per cent higher a year ago. And Walmart also wins out for sports and outdoor products, sitting 1.3 per cent lower than its rival compared to 3.5 per cent higher last year.
Walmart invested more than $1bn last year in order to make its pricing more competitive and it seems to be working, with prices falling and online revenue increasing.
Despite this, according to a survey and trend analysis from GBH on Friday, Amazon enjoyed somewhere between 45 and 50 per cent of all eCommerce sales on Black Friday. And it’s only fair to expect the eCommerce giant to enjoy similar success by the end of today’s Cyber Monday.