BENTONVILLE, Ark.–Wal-Mart reduced prices today in 3,500 stores on toys, “signaling its determination to be America’s price leader this Christmas,” the world’s biggest retailer said in a statement.
With this move, the discounter, which often sets the pace for the retail sector, has kicked off perhaps the earliest holiday campaign to date. Wal-Mart said a survey revealed that shoppers will start their Christmas shopping earlier than ever.
“As consumers face high prices for energy, a credit crunch and food inflation, we’re working to provide low prices on both everyday needs and on things people want so they can live better,” said John Fleming, executive vice president and chief merchandising officer, in a statement.