Retail giant Wal-Mart has reportedly launched a new campaign to cut thousands of prices across its US stores in a bid to lure more customers into its aisles as its grocery margins continue to be squeezed by pressure from food deflation and strong price competition.
The so-called Rollbacks initiative will be supported by TV and online advertising, according to a report by just-food.
“Our customers will find thousands of Rollbacks across the store including food and consumables,” a spokesperson told just-food.
Last month, a US retail analyst predicted Wal-Mart would use aggressive pricing to increase traffic at its stores
The company, which had attracted consumers in increasing numbers at the onset of the economic downturn last year, has seen customer numbers dwindle during its fourth quarter.
In the three months to the end of January, Wal-Mart revealed that the group’s same-store sales in the US fell by 1.6 per cent, excluding fuel, as customer numbers dropped.
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