The big day for holiday season shopping - Black Friday - will be bigger this year as Wal-Mart joins rivals Amazon, Office Depot and OfficeMax this weekend to launch their first holiday deals.
"It doesn't start on Black Friday, it starts right now. We are expecting to see a highly competitive environment throughout the season. We are going to win the holiday season," said Steve Bratspies, executive vice president of general merchandise for Wal-Mart U.S.
In a bid to re-establish itself as the low-price leader, the world's largest retailer has planned to cut prices of 20,000 products ranging from groceries, toys and electronics, Nov. 1 onwards.
According to CBS News, Wal-Mart executives told the media that during any other time of the year, the company normally offers about 10,000 price cuts, or "rollbacks".
"As soon as they put away their Halloween costumes, our customers start prepping for Thanksgiving, buying Christmas trees and shopping for gifts. They want the best deals now," said Duncan Mac Naughton, chief merchandising officer for Wal-Mart U.S, CNBC reports.
Apart from discount on 20,000 products, Wal-Mart will remove the minimum-purchase threshold of $50 and also offer free shipping on its top 100 gifts. The merchandising team of the retailer compiled the items, which include board games and licensed "frozen" products.
On Monday, Wal-Mart's 24-hour online sales event will feature 15 "Black Friday and Cyber-Monday-like deals," double the number from last year.
The company witnessed six straight quarters of declining or flat growth in same-store sales, Fortune reports.
So, considering that Wal-Mart is also upping its e-commerce game, it is probable for it to win big this holiday season.
