Walmart Canada says it has dropped prices on hundreds of items. This retail analyst says to do your homework
Bruce Winder said consumers should do their research and compare the deals with other items, because the retailer may be creating the perception of having the lowest price everywhere.
'When you lower a basket of items, it … is used to try to convince the consumer that everything else in the store is cheap or competitive, and it's not always the case,' Winder said in a video interview with CTVNews.ca in Toronto on Monday.
Winder says the trade dispute and buy Canadian movement may be factors behind Walmart Canada's move.
'There's a lot of companies in Canada who are trying to sharpen their pencil from a price perspective, because they realize Canadians are hurting,' Winder said. 'Walmart might be hurting a little more than normal because of the pro-Canadian movement. I think a lot of Canadians have invested their shopping dollars in Canadian companies.'
Canadians 'more financially stretched'
The company announced Monday that since February, it has dropped the price on hundreds of major staple items to help consumers save money. The products include 'some fresh fruits and vegetables, bathroom tissue, water, cheese, ground beef and shampoo.' Walmart Canada said it will also keep a 'consistent stock' of these items.
'At a time when Canadians are feeling more financially stretched than ever, we've lowered the price of hundreds of key items across our stores and website,' Venessa Yates, president and CEO of Walmart Canada, said in a press release. 'We want Canadians to know we're working hard to help them save, especially at a time when many are struggling to make ends meet.'
The company said more than 8,000 new rollbacks, which lower prices further, have been offered since early June in apparel, electronics, health and wellness and other items.
Customers will see thousands of 'rollback' offers in-store and on Walmart.ca each week, added Sam Wankowski, the retail giant's chief merchandising officer.
CTVNews.ca reached out to Walmart Canada for comments as to how much prices will be lower for some products. This story will be updated with the company's response.
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