THE CEO of Walmart US has revealed the retailer’s strategies for keeping prices low.
John Furner emphasized the importance of ensuring the chain continues to offer good value to its shoppers, warning that they are smart.
Walmart US CEO has revealed how prices are being kept low for shoppers[/caption]
John Furner warned customers are rational people[/caption]
Walmart has seen a boost as shoppers continue to grapple with the impacts of inflation and the chain has rolled out initiatives targeted at customers conscious about their finances.
Earlier this week, the chain’s budget-friendly festive meal hit the shelves and will be in stock in stores and online until Christmas.
Furner discussed the product during an appearance on Fox Business earlier this week.
“We started working on some programs with our meals around holidays in particular, to ensure that we were pricing those meals at the same price we were the year before,” he said.
“And then this year, even for a holiday like Thanksgiving, we’re able to bring down the cost of the meal just a bit.”
Walmart saw an uptick in its economic performance in the spring compared to rivals, per CNN.
Sales at stores that had been open for at least a year jumped by 3.8%.
Furner doesn’t seem to be taking anything for granted, however.
“We try to remind ourselves all the time, consumers are smart, they’re very rational,” he said.
“And if your value is outstanding and your price is outstanding, and you execute well, then you’ll get the business you deserve.”
Walmart’s holiday feast has become a tradition in recent years, and it hit the shelves two weeks earlier than in 2023.
The banquet features 28 items and includes holiday staples such as turkey and the trimmings.
And, a dessert is included within the food package.
Walmart has boasted how the feast offers shoppers great value for money.
It works out at less than $7 per person.
Walmart announced this year’s holiday feast in September.
“We know many of our customers are beginning to prepare for their holiday celebrations early, and we’ve adapted our approach to best meet their needs,” said Latriece Watkins, executive vice president and chief merchandising officer at Walmart U.S.
“We’ve worked hard to lower prices across our most exciting assortment ever, and we’re thrilled to give customers more of what they want this holiday – more time to prepare and more opportunities to save all season long.”
Earlier this year, Walmart bosses launched the chain’s bettergoods food label.
A spokesperson revealed that 70% of the products would be priced at $5 or less.
Shoppers can pick up soups with the bettergoods label for $3, as well as meat-free chicken nuggets for less than $2.
Bosses boasted how the product label makes shopping accessible for those with different dietary needs.
The U.S. Sun has reported how Walmart has invested more than $1 billion in customer-focused strategies.
Chiefs have boasted how the company prides itself in offering shoppers a seamless experience.
