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Will Walmart Price Cuts Shake Up Retail?

Walmart is implementing some deep price cuts on products, and the effects could be far reaching.

Companies impacted the most by the big-box retailer’s slashed prices include Target, Family Dollar and Dollar General, which may see lower earnings if they drop prices to compete, Business Insider reports this week.

“All three companies stand to lose a collective $35 billion in revenue as a result of Walmart’s cuts,” Business Insider says.

Dropping prices is part of Walmart’s plan to increase in-store traffic. The grocery category is one of the main areas where the retail giant is making changes, lowering prices by 10 percent, according to Business Insider.

The big-box giant had also planned price cuts on consumables, such as laundry detergent and windshield wiper fluid, and over-the-counter drugs, a June Business Insider article says.

Most independent home improvement retailers don’t compete with Walmart on selling groceries, but Walmart’s lower prices could attract more customers who pick up hardware and lawn and garden products while they’re buying food.

About Renee Changnon

Renee Changnon is the retail outreach coordinator for NRHA. She meets with retailers in their stores and at industry events and introduces them to the services NRHA provides. Renee previously worked as a member of the NRHA communications team. She earned a degree in visual journalism from Illinois State University, where she served as the features editor for the school newspaper. After college, she implemented marketing and promotions initiatives at Jimmy John’s franchise locations across the country. She enjoys exploring books with her book club, Netflix marathons and hosting goat yoga at her apartment complex. Renee Changnon 317-275-9442 rchangnon@nrha.org

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