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
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
