Wal-Mart dropping prices to compete with rivals

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Wal-Mart Canada is cutting prices in an effort to compete with rivals as competitiveness continues to be at its peak in the retail industry. According to Wal-Mart executives, the Canadian division had a 0.2 per cent sales gain in the second quarter for stores that were open for more than a year, along with a triple-digit jump in e-commerce sales.

“Our enterprise strategy dictates that we move with speed and agility to serve our customers more effectively,” Wal-Mart Chief Executive Officer Doug McMillon told The Globe and Mail. “We are pushing to save them time and money, both in-store and online.”

Wal-Mart’s rivals in the industry have been offering competitive prices to win over consumers that are adapting to an e-commerce market with lower prices. CJ

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