Walmart Is Trying to Keep Grocery Prices Down By Doing This
Last summer, Walmart promised to keep several types of products cheaper as the season started and people began to shop in-store again. Months later inflation is the highest it's been in decades, and America's largest retail chain is saying it will stay true to its word once again.
Brett Biggs, the company's Chief Financial Officer, recently said that based on research, Walmart knows shoppers are stressed about soaring prices, and they are not wrong, CNBC reports. While juggling inflation, Biggs said during a recent earnings call they are trying to keep prices low, but have been forced to raise them on some items. To balance this out, though, Walmart is keeping the number of Rollbacks and sales inside stores the same as this time last year in order to entice customers to keep shopping.
"Even though you may get costs being passed along in one part of the basket, you may be able to do some things in the other part of the basket to make it work overall," he said.
Walmart CEO Doug McMillion says that the company is also talking to larger companies that have recently upped prices because of higher wages and manufacturing costs. "The amount of communication between us and suppliers is always high," he said, per CNBC. "It's particularly high right now."
By placing other items on sale, Walmart hopes to show shoppers that they are still a leader in low prices. No information about which products are on sale is known, but one item that is being given extra security is meat. A viral video recently showed a package of steaks locked up in metal wires.
During your next shopping trip stock up on the 6 Healthiest Snacks to Buy at Walmart Right Now, According to Dietitians.