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Giantone · 02-10-2023, 06:27 PM

Not a Walmart Fan but glad someone is fighting back!

Walmart pushes back as major product suppliers ask for higher prices

https://www.yahoo.com/finance/news/w...140939470.html

For the world's biggest retailer, which reports earnings Feb. 21, any increase in prices --- even by just a few cents -- can have negative effects, prompting some shoppers to look for bargains at dollar stores or warehouse chains such Costco.

Walmart, which touts its "Everyday Low Price" policy, raised prices last year on milk, frozen meals and Tide detergent, to name a few, as its suppliers battled soaring costs of everything from chemicals to wheat and fuel.

But now with the cost of cardboard cases declining by 40-50%, the cost of transportation falling by 25-30% and the cost of raw materials declining significantly, "retailers like Walmart will say 'hey you already had three rounds of price hikes last year, why are you giving us another?'" said Burt Flickinger, managing director at retail consulting firm Strategic Resource Group
(Walmart) said to us, 'From here, our consumer is challenged, we're going to be looking out for consumers, so you're going to have to have really good reasons if you're going to price up from here," Little said in an interview.

"Because the consumer is now under more pressure, and Walmart is under pressure, that sets up a dynamic where there's probably not a lot of pricing going forward."

02-10-2023, 06:27 PM	#494
Giantone Gamebreaker Join Date: Apr 2006 Posts: 14,590	Re: The Good News Thread Not a Walmart Fan but glad someone is fighting back! Walmart pushes back as major product suppliers ask for higher prices https://www.yahoo.com/finance/news/w...140939470.html For the world's biggest retailer, which reports earnings Feb. 21, any increase in prices --- even by just a few cents -- can have negative effects, prompting some shoppers to look for bargains at dollar stores or warehouse chains such Costco. Walmart, which touts its "Everyday Low Price" policy, raised prices last year on milk, frozen meals and Tide detergent, to name a few, as its suppliers battled soaring costs of everything from chemicals to wheat and fuel. But now with the cost of cardboard cases declining by 40-50%, the cost of transportation falling by 25-30% and the cost of raw materials declining significantly, "retailers like Walmart will say 'hey you already had three rounds of price hikes last year, why are you giving us another?'" said Burt Flickinger, managing director at retail consulting firm Strategic Resource Group (Walmart) said to us, 'From here, our consumer is challenged, we're going to be looking out for consumers, so you're going to have to have really good reasons if you're going to price up from here," Little said in an interview. "Because the consumer is now under more pressure, and Walmart is under pressure, that sets up a dynamic where there's probably not a lot of pricing going forward." __________________ ....DISCLAIMER: All of my posts/threads are my expressed typed opinion and the reader is not to assume these comments are absolute fact, law, or truth unless otherwise stated in said post/thread.