US inflation continues to soar! Amazon, Walmart, and Target are engaged in a price war

US inflation continues to soar! Amazon, Walmart, and Target are engaged in a price war

According to the Bureau of Labor Statistics, the overall U.S. consumer price index rose 7.9% in February from a year earlier, up from 7.5% in January, the fastest pace in four decades. The expected rate of increase in consumer prices over the next 12 months has also jumped since Russia invaded Ukraine.


Rising inflation is hurting U.S. consumers. Data from the Commerce Department showed U.S. retail sales growth slowed sharply last month, while U.S. consumer confidence hit a 10-year low this month.


Despite increased procurement costs, Amazon, Walmart and Target have begun to make themselves as competitive as possible on price in order to retain consumers.


Walmart, which has always been known for its low cost, has begun to cut costs in price-sensitive categories such as groceries and electronics. Walmart CEO said in a fourth-quarter earnings call last month: "We are working closely with our suppliers to manage inflation and find some places where we can lower prices."


Walmart is currently reducing prices on consumer electronics and some dry goods and grocery items. Not only that, Walmart also hopes to win the trust and goodwill of consumers during this special period by lowering prices.


Target shares the same view, with a spokesperson saying: "Target will protect prices from increasing as much as possible." But there are no obvious price cuts at the moment.


Target CEO said in its latest earnings conference: "We will try our best to balance maintaining profitability and providing more customer value. We will work with our supplier partners to reduce costs at every link, from procurement to production to transportation."


Amazon is also dealing with rising labor costs and has not yet cut prices, but Chief Financial Officer Brian Olsavsky said the company is working to offer lower prices, better selection and more convenience as part of its goal to provide a good customer experience.


Editor ✎ Xiao Zhu/

Disclaimer: This article is copyrighted and may not be reproduced without permission.

<<:  Searches for "Facebook" have dropped by nearly 90% in the past decade, resulting in $10 billion in advertising losses

>>:  Shopify launches new tool "Linkpop"! Increasing investment in social e-commerce!

Recommend

Advertising strategies for different categories and traffic structures

Today's Share Advertising strategies for diffe...

Confirmed! Amazon will upgrade and integrate Buy with Prime into TikTok!

textRecently, Amazon is expanding the ways seller...

Will Amazon implement these new policies in 2023?

In response to the EU's antitrust investigatio...

As revenge continues, Shein is counterattacked by Temu!

SHEIN was counterattacked by TEMU, and the two com...

What is Polarr? Polarr Review

Polarr is a pure cross-border e-commerce learning ...

What is MaxAB? MaxAB Review

MaxAB is a Cairo-based B2B e-commerce marketplace ...

What is SellerWorry? SellerWorry Review

Seller Easy has been focusing on Amazon services f...

What is mail-tester? mail-tester review

Mail-tester can check your email score and whether...

Deciphering! How do big sellers get video reviews stuck on the homepage?

Image source: 123rf.com.cn First, what are the vid...

Breaking news! Temu store closures are coming!

2025 is destined to be a year full of uncertainty ...

Amazon Newbies Must Read: Refined Practical Experience Operation Manual

Channel Operation Manual 1. Set sales targets 2. ...

What is Google Search Console? Google Search Console Review

Google Search Console (formerly known as Google We...

Temu US online shopping survey, consumers value these points most

It is learned that Temu commissioned Propeller Ins...

Amazon sensitive words are banned from sale

Today's Share Amazon sensitive words are banne...

What is AMZ Insight? AMZ Insight Review

AMZ Insight can track the effects of the keywords ...