Walmart launches competing sales event to counter Amazon Prime Day
By
Patricia Battle
Kettled twice. Extra chewy, extra trustworthy.
Summary
Walmart is intensifying its competitive efforts against Amazon's Prime Day by running its own Walmart Deals savings event. Amazon's Prime Day generated $24.1 billion in online spending across U.S. retailers last year, with 30.3% year-over-year growth. Walmart's strategy aims to prevent customers from defecting to Amazon during the major discount event, as competition between the retail giants heats up amid weak consumer sentiment.
Key quotes
· 3 pulledWalmart is ramping up its efforts to prevent customers from flocking to Amazon's upcoming Prime Day event, which offers steep discounts across multiple product categories.
Last year, Amazon Prime Day drove $24.1 billion in online spend across U.S. retailers, representing 30.3% year-over-year growth, according to Adobe for Business data.
Amazon said the event delivered record sales, marking its biggest Prime Day to date.
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