Amazon is still cheaper than Wal-Mart, but that’s changing fast.
Deutsche Bank recently compared prices for 65 identical items from Amazon.com, Walmart.com, and Target.com.
Amazon prices were 5% lower than Wal-Mart in the most recent analysis.
But in the same study two weeks ago, Amazon’s prices were 8.3% lower than Wal-Mart’s.
Wal-Mart has a renewed focus on offering cheaper merchandise amid a slowdown in its US business.
“We cannot let our competition beat us on price,” US CEO Greg Foran told investors earlier this year.
Wal-Mart recently rolled out a new app called Savings Catcher, which helps shoppers compare prices on merchandise and then pays them the cost differences on a gift card.
Wal-Mart has also been investing heavily in its e-commerce business in a bid to catch up to competitor Amazon.
Deutsche Bank found that Target was the most expensive of the three retailers, with prices 7.9% higher than Amazon’s.
Retailers are offering far more bargains and promotions this year than last, according to the analysts.
Compared with last year, prices are 12% lower at Wal-Mart, 9.7% lower at Amazon, and 3.5% lower at Target.
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