Looks like Wal-Mart is going back to what it became best known for, cheap prices.
Sources close to their corporate offices reveal that Wal-Mart is taking action against its dollar store competitors.
In fact, they’ve reportedly started contacting their suppliers to talk about “opening price point" goods, aka the cheapest items in a category.
One long-time supplier reveals:
"The message is, 'Anybody who can deliver opening price point [goods] for us will become a vendor — anybody who can't, can leave.' Not since the 1990s have we seen Wal-Mart signal this level of competition on price."
Looks like Wal-Mart might soon be opening up to new manufacturers who can offer lower prices. Though they’ll also be hitting up some of their largest, big named suppliers to ask for more affordable packaged items.
And Wal-Mart is going full force this month letting their vendors know they’re serious about lower prices.
A manufacturing exec reveals:
"It's pretty unusual to have them calling you instead of the other way around. They told us, 'The dollar chains are eating our lunch, and we're not going to let them do that anymore.'"
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[Image via AP Images.]