As a part of the ongoing duel for holiday shopping business, Walmart will let its store managers match prices from Amazon and other online retailers, according to a Reuters report. The move could make Walmart even more competitive for customers’ gift-buying dollars, especially if Amazon’s supply chain is beset by shipping delays again.
Greg Foran, the President and CEO of Walmart’s U.S. division, said the directive he handed down to store managers was meant to officially codify the company’s plans for matching online prices. In many cases, store managers were already doing so, but this decision makes it official.
That level of price-matching may be a key to maintaining Walmart’s competitive edge in the retail business.
On a related note, Nordstrom Chairman Blake Nordstrom told investors on his company’s conference call yesterday that remaining competitive on price with other online retail outlets is critical to surviving in the retail business long-term.
“When, for any reason, we find ourselves behind, and not competitive, you can see it in the sales,” he said. “If you are not competitive, you are not in the game in the long run.”