Walmart Announces Hundreds of Millions of Dollars in Price Reductions
Unprecedented savings each week this Holiday season
BENTONVILLE, Ark. - With a commitment to save American shoppers more than ever this holiday season, Walmart (NYSE:WMT) announced it will offer weekly deep savings events and new everyday low prices on thousands of items across the store, starting today through the holiday period. Each week, Walmart will announce new pricing reductions, beginning with select items in groceries and entertainment.
“Many of these prices represent the lowest we’ve offered in years, because we know these are tough times for American families,” said Eduardo Castro-Wright, vice chairman, Wal-Mart Stores, Inc. “We made a purposeful decision to focus initially on everyday staples as well as items that often require larger spending commitments in preparation for Thanksgiving and Christmas.”
Recently, 75 percent of Walmart customers said they agreed it was important this year to find more affordable ways for making the upcoming holiday season successful, with many customers saying they even plan to cut down on the amount spent on individuals on their gifting lists. Walmart’s commitment aims to put holiday savings in every home. For example, starting this week Walmart stores nationwide and Walmart.com (www.walmart.com) will lower prices on select frequently purchased groceries and popular toys, including:
* Rolls of 73% lean ground beef - $1.25 per pound (26% savings)
* Bananas - $0.39 per pound (27% savings)
* Spring Valley 500 mg chewable vitamin C (60 count) - $2 (60% savings)
* Bakugan traps - $5 (36% savings)
* Select board games, kids activity kits and Hot Wheels sets -- $15 (17% to 25% savings)
* Ripstick - $49 (27% savings)
“America is depending on Walmart to make the holidays affordable and we are responding with a selection of stunning price reductions,” said John Fleming, Walmart U.S. chief merchandising officer. “We sell items for every holiday purchase occasion, so we’re perfectly positioned to help -- from quality food for holiday meals, to preparing the home for guests, to the toys under the tree.”
These price cuts will only increase the savings that Walmart grocery shoppers experience each and every week. According to recent price audits, Walmart’s prices for frequently purchased grocery items averaged at least 14 percent less than the leading national supermarkets on the same items.
Because of the operational improvements Walmart has made through its remodeling program of stores across the U.S. and faster service at checkout, customer satisfaction scores are at an all-time high.
“We’re excited about the season because the shopping experience in our stores is better than ever,” said Bill Simon, Walmart U.S. chief operating officer.
Every week, millions of customers visit Walmart stores, Neighborhood Markets, and Sam’s Club locations across America or log on to its online store at www.walmart.com. The company and its Foundation are committed to a philosophy of giving back locally. Walmart is proud to support the causes that are important to customers and associates right in their own neighborhoods, and last year gave more than $378 million to local communities in the United States. More information about Walmart can be found by visiting www.walmartstores.com.
1Based on responses from 1,000 Moms who shop at Walmart. Research conducted by Lynx Research Consulting for Walmart in September 2009.
2Grocery items not available for purchase at Walmart.com.
3Prices may vary in OK and WI; all “was” pricing based on an average of Walmart’s national everyday low prices.
4Savings based on weekly price audits on 249 comparable items at the leading national supermarkets conducted from 8/29/09 to 9/25/09; excludes produce, meat and random weight items. Savings at individual stores may vary.
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