Retail giant Walmart Stores Inc. has drawn almost even with online retail leader Amazon on price, according to a new study.
A study commissioned by Reuters and conducted by retail data analytics firm Market Track found that prices at Walmart.com are just .3 percent higher than those at Amazon on average, according to a Reuters story. The study analyzed 213 products in 11 categories over a period of 700 days ending Nov. 7.
That’s a big change from a year ago. In a study covering 350 days ending Nov. 7, 2016, Walmart.com prices were 3 percent higher on average.
Online price cuts are just one of the measures Walmart is taking to boost its e-commerce business, according to the story. Other measures include expanded offerings, free two-day shipping and the acquisition of Jet.com and other online retailers.
The measures are paying off, according to the story. Online sales at Walmart increased 50 percent year-over-year in the most recent quarter.