Is this the end of price shopping?


Walmart is testing a new service, where it compares the prices you paid at Walmart on any given day vs. promotional retail prices in the area.If it finds lower prices elsewhere, you get a credit on the difference towards future purchases at Walmart.  Why is this a big deal?  It basically eliminates the need for consumers to price shop or cut out coupons.  For the segment of the world that thinks price first, and quality or experience second, this is a no brainer.  Walmart will win hands down.  So how are others to compete with the retail giant’s latest strategy to knock everyone else out of the market?  First of all, hope that people will dislike the idea that they have to enroll enough for this not to be successful. However, the temptation to eliminate the weekly coupon clipping might be big enough.  If so, more now than ever, retailers should be thinking about innovating services and experiences, and segmenting who they want to serve.  Only those that can win the hearts over of consumers that care about things other than price will survive if this paradigm shifting service goes big.

 

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