BENTONVILLE, Ark.—Walmart has debuted an effort to reinforce its price-leadership promise to shoppers, including an advertising campaign and a broadened product assortment.
In a statement about the new initiatives, the retailer said it would “reinvigorate the fundamental price promise” by increasing store-manager and buyer checks on its competition, and partnering with its suppliers to lower costs per item, so as to pass these savings on to consumers. Walmart also simplified its ad-match policy so that shoppers need no longer bring in a competitor’s advertisement. “If customers find a lower advertised price, we’ll match it at the register,” the statement said.
The ad campaign, which is geared toward helping shoppers understand its everyday-low-price promise and the ad-match guarantee, will include local market advertising featuring local Walmart associates and their stories. In May, new store signage will appear in Walmart stores throughout the nation.
In terms of merchandise, Walmart plans to increase its product assortment by 8,500 items, or 11 percent for the average store. Initially, it will bring back food and consumable items, and health and wellness products. Later this year, it will expand offerings in electronics, sporting goods, apparel, fabrics and crafts, and outdoor-living products.
Duncan Mac Naughton, chief merchandising officer for Walmart U.S., said, “Our company is determined to create the best one-stop shopping experience and low prices on the right products, backed by a clear, consistent ad-match policy.”