It is 2023, and prices on everything seem to be crazy high. Inflation is up 7.5, and Americans are cutting back on what they are buying. So who has the best deals out there, and who has kept their prices down? According to a new study from Dataweave, Walmart is doing a far better job at keeping pricing down compared to Amazon and Kroger.
According to the study that looked at 589 different products, Walmart kept its prices lower than its competitors. According to the study, Walmart prices rose just 3 percent during the same period that inflation was up 7.5 percent. Amazon saw prices go up 7.5 percent, and Kroger, along with Target, saw prices go up 9 percent during the same time.
To help keep costs down, Walmart plans to use automation and other cost cutting tools as it looks for ways to keep prices down.
Walmart plans to automate services in around 65% of its stores with 55% of fulfillment center volume coming through automated locations. The company’s expectations are to improve unit cost averages by 20%.
While this is a concerning set of predictions for employees, Walmart claims it aims to “serve our associates by creating opportunities” and is merely looking to streamline processes to create better working environments for staff.
Walmart has also been cutting staff and putting pressure on partners to find ways to keep prices down.
Walmart hopes to use some of the staff that will be replaced by automation to fill other vacant roles within the company. Walmart, like many companies, has been struggling to fill job openings. Using automation to help reduce the need for staff is one solution to this problem.
As Americans are looking for ways to save money, Walmart is hoping that they will think of them as inflation continues to be an issue.