Walmart Target is forcing its vendors to make a change — offer better pricing!
Target sent a letter to its “most important vendor partners” indicating that to compete with other retail giants, like Walmart and Amazon, they needed to change their pricing strategy.
They are also challenging their vendors to work with them in order “to develop an assortment and pricing strategy that will allow Target to be competitive and profitable across all channels.”
Target is also focusing on not allowing its stores to become showrooms for online vendors trying to undercut them as the store needs to invest in displaying their items.
Analysts expect other large companies to do the same, such as J.C. Penny Co. Inc which has already shifted its pricing strategy and implemented an “Everyday Fair Value.”
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[Image via AP Images.]
Tags: competitor, research, retail, retailers, stores, target, walmart