Walmart’s lower prices give Amazon a run for its money
Walmart, the world’s biggest retailer, is putting an end to Amazon’s dominance, not only online but in stores as well, a retail expert told FOX Business on Thursday.
Americans flocked into its stores to take advantage of lower prices on groceries and consumer staples as same-store sales rose 2.6% in the first quarter.
“They are winning on patriotism,” Burt Flickinger, managing director of Strategic Resource Group, told Dagen McDowell on “Mornings with Maria.” “You’ve never seen so much patriotism in terms of action alley – U.S. flags on every shelf, every merchandising aisle. It stimulates pride and people – they are buying more and Walmart is laying waste to the rest of U.S. retail.”
Walmart’s e-commerce business bounced back as well, as sales were up 33% during the first quarter. It invested aggressively in its online business, upgrading its website, purchasing sites like Jet.com, acquiring Indian online retailer Flipkart and partnering with long-standing department store chain Lord & Taylor.
“Walmart is going to beat Amazon on land and with Flipkart and with Jet … Walmart’s going to start winning even more online,” Flickinger added.
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