The holiday price wars between Walmart Inc. and Amazon.com Inc. are heating up.
Hold on to your smartphone — the holiday price wars between Walmart Inc. and Amazon.com Inc. are heating up.
Walmart, the world’s largest retailer, has introduced a program to temporarily lower the prices consumers pay for some items on its marketplace site, where third-party vendors pay Walmart a fee to list their goods. The merchants selling on the site, however, will still be paid the amount listed before the cuts, with Walmart subsidizing the difference, according to a description of the plan obtained by Bloomberg that was confirmed by a Walmart spokeswoman.
The move appears to be a response to an Amazon program, rolled out over the summer, where the e-commerce giant has full control to set prices of third-party products sold on its marketplace — in return for a minimum payout. Amazon has also come under scrutiny for increasinglyto ensure that their products aren’t offered for a lower price on Walmart.com or any other rival website.
The price war comes as the Federal Trade Commission begins to inspect Amazon’s business practices, interviewing vendors to determine whether the company is using its clout to stifle competition. Amazon controls of the U.S. e-commerce market, which is expected to reach $587 billion this year, according to data tracker eMarketer. Amazon hasn’t disclosed any FTC investigation and has countered that it only controls 4% of the total U.S. retail market.
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