Dive Brief:
- Walmart and Sam’s Club are joining fellow food retailers in offering price cuts on summer essentials, according to a Monday press release.
- The price cuts extend to items in the grocery, household essentials, outdoor living, toys and apparel departments, per the press release. The retailer confirmed with sister publication Grocery Dive that these price cuts took effect last week.
- President Donald Trump took to Truth Social on Monday to praise the retailer for enacting this initiative, which he said came at his request. Walmart’s press release makes no mention of the Trump administration or the July Fourth holiday.
Dive Insight:
Walmart joins numerous other retailers in cutting prices on key items as consumers continue to feel pressure from inflation, high gas prices and other macroeconomic factors.
Walmart and Sam’s Club’s price cuts target core summer grocery purchases across various departments. And they come as inflation remains at a near three-year high, with food-at-home prices rising at a 2.7% annual rate in May, according to government data.
“This summer, we’re making even more investments in price, with thousands of Rollbacks across the products customers are shopping for most including beef, fresh produce and beverages, grills, pools, toys and summer fashion apparel,” Julie Barber, Walmart U.S.’s executive vice president and chief merchant, said in a statement.
Products that will feature price rollbacks at most Walmart stores include ground beef roll, corn on the cob, fresh red cherries, private label ice cream, Lay’s classic potato chips and more. Price drops on these key items range from a few cents to $5.
Sam’s Club is lowering prices on more than 250 items, including private label items such as bone-in chicken wings, beef hot dogs, ground beef and whole bone-in pork back ribs. Price cuts that Walmart shared in its announcement range from a few cents to around $2.
Customers can shop these deals in-store, online and on the retailers’ respective apps, the announcement noted.
