Walmart launches competing sales event to counter Amazon Prime Day
By
Patricia Battle
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 last year across U.S. retailers, a 30.3% year-over-year increase. The competition comes amid weak consumer sentiment and intensifying rivalry between the two retail giants.
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Key quotes
· 3 pulledLast 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.
In a press release last year, Amazon said the event delivered record sales, marking its biggest Prime Day to date.
Walmart 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.
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