U.S. giant retailer Wal-Mart Stores Inc (NYSE:WMT) intends to fend off rivals and boost sales in the upcoming holiday season by offering more incentives to both online shoppers as well as those who shop at its brick-and-mortar outlets.
The online selections that will be available during the year’s most lucrative shopping period have now been tripled to approximately 60 million items. Walmart will also offer free 2-day shipping on over two million items when the size of the order exceeds $35. Additionally the giant retailer will give discounts when online shoppers choose to pick their orders at the brick-and-mortar outlets. Walmart is also planning to offer more exclusive items from firms such as Bose, an audio equipment maker and Cuisiniart, an appliance maker.
The plans by the giant retailer were announced during a media briefing which was held to provide an outline of Walmart’s strategy with regards to the holiday season which generates an outsized portion of most retailers’ annual sales and profits. According to Walmart’s chief merchandising officer, Steve Bratspies, reduced prices will be offered in a range of products including toys from famous brands such as Nerf and Lego.
“We’re buying as much inventory as we think we can handle and sell. We’re going to be in a really strong position to handle the demand online and in stores,” said Bratspies.
For the third year in a row Walmart will concentrate on discounts as well as offering the best prices rather than gimmicky product deals. Additionally over 20,000 holiday events will be held at Walmart’s stores according to Tony Rogers, the chief marketing officer of the retail giant.
Some of the events will include parties which will be themed around curated gifts, entertainment and toys. There will also be more product demonstrations and the role of workers who assisted customers in finding the shortest cash register lines last year will be expanded. This year these workers will also be deployed to the electronics and toys sections every weekend.
On Wednesday shares of Walmart Stores Inc rose by 0.73% to close the day at $87.94.