Wal-Mart Stores announced today (11 April) that it has changed its slogan to “Low prices. Every day. On everything” and will emphasise that it plans to reintroduce some 8,500 items to its stores.
The world’s largest retailer said that it is “stepping up its efforts to provide low prices”, which include increasing competitive checks and partnering with suppliers. It said that its price match policy is the “most competitive in the market” and that it has simplified the guidelines, which will mean that they no longer have to bring in a competitor’s ad in order for the retailer to match it.
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It also said that it will launch a new TV ad campaign today to “help customers better understand its low price promise and the Ad Match Guarantee”.
It plans to “broaden” its product assortment by approximately 8,500 items, or 11% of products in an average store. The retailer said that additions to pasta, beverages and snacks have “been in progress and will continue,” and that over the next few months, additions to fresh grocery and consumers, as well as health and wellness products will be made. It will extend its general merchandise categories later this year.
Wal-Mart will identify these new items with ‘It’s Back’ flags on store shelves later this month.
“We’ve listened to our customers and we’re bringing back the products and brands they want,” said Wal-Mart US chief merchandising officer Duncan Mac Naughton. “Customers have already seen a wider selection of products on our shelves and we’ll continue to bring back great products at great prices.”
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By GlobalDataThe moves are part of the retailer’s plans to turnaround its US operations, which have stagnated in recent years. During its most recent results, third quarter net sales were down 0.1% in the US, while like-for-like sales were down 1.3%.
