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Walmart Launches Deals Week To Challenge Amazon Prime Day Sales
HomeNews* Walmart launches “Walmart Deals Week,” a six-day event, to compete with Amazon Prime Day.
Mizuho analyst David Bellinger noted, “Amazon’s probably your first choice to search for stuff, but then you price compare. That could be hurting Amazon, as spending is reportedly down 14% in the first four hours of the first day.” Walmart emphasized that providing both online and physical store deals gives customers more flexibility and said its app and AI-powered website help shoppers find needed products faster.
According to Yahoo Finance’s Brooke DiPalma, “The top side here is that Walmart Plus subscription is far lower than Amazon Prime. Also, they’re offering that half off right now. And so it could entice customers. That’s ultimately what Walmart wants here. They want to take the eyes away from Amazon.”
Although there are other competitors in the e-commerce sector, such as Costco and Target, Walmart and Amazon remain the main rivals. As the sale kicks off, Walmart‘s stock trades near its yearly high and above its 200-day simple moving average. Year-to-date, Walmart has outperformed Amazon in the stock market, but it seeks further progress in the e-commerce space with promotions like this week’s event.
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