Hardware Retailing The Industry's Source for Insights and Information
A new study from financial data firm Market Watch finds that Walmart and Amazon’s online prices are closer than ever, Business Insider reports.
The study, which tracked prices on Amazon and Walmart’s website, spanned 700 days. Walmart’s online prices were on average 0.3 percent higher than Amazon’s prices. One year ago, Walmart’s online prices were 3 percent higher than Amazon’s averages, the study notes.
In some categories, Walmart’s prices were much lower than Amazon’s offerings. Walmart’s online selection of wearable technology was 6.4 percent lower than Amazon, according to Business Insider.
Walmart spent more than $1 billion in 2017 lowering prices to compete with Amazon, its longtime rival. Amazon is responsible for about half of all e-commerce sales in the U.S., Business Insider reports. In comparison, Walmart generates 3.6 percent of all online sales in the U.S.
Walmart is still championing its brick-and-mortar locations, though. Its in-store prices are often cheaper than their online counterparts, Business Insider notes. The retailer is also offering lower prices for in-store pickup of items customers buy online.
