Inflation is raising prices in time for the holidays. Based on the numbers announced by the government, inflation has hit a 31-year high. The consumer price index reached 0.9% in October. Walmart is closing the price gap with Amazon. With all the developments in today’s world of business, it’s vital to work with a payment expert that can help you with the best merchant service providers in the country.
Walmart Is Closing the Price Gap With Amazon
The price battle between Walmart and Amazon continues. In six categories, Walmart’s online prices are, on average, within 1%-2% of Amazon. These categories include appliances, beauty, food and beverages, health and personal care, home furniture, as well as sports and outdoors.
Walmart stock has grown by 2.5% for the year to date but has dropped by 1.2% over the last three months. In 2020, Walmart’s online prices were, on average, 3% higher as compared to Amazon’s. In 2021, prices at Walmart.com are 0.3% higher.
According to National Retail Federation, this year, the holiday shopping season will hit a record high. The sales are expected to be between $843.4 billion and $859 billion. In October, retail sales increased by 1.7%, and were up by16.3% YoY, as the U.S. Census Bureau reported.
Inflation and the Holiday Shopping Season
Supply chains are facing a crisis, deliveries are registering delays, and inflation is anticipated to make the 2021 holiday shopping season one of the most expensive and problematic in history. Inflation has registered its highest levels in the past 30 years.
In October, prices at online retailers increased, accounting for a rise of 5.5% YoY, as Profitero’s latest Ecommerce Price Index showed. What are you planning for this year’s holiday shopping season? Are you offering the right payment processing services to your customers?
You can find them by working with a true payment expert that can help you with the best merchant service providers in the U.S. This is how you can be sure to enjoy the quickest access and the cheapest rates.
Inflation, and the Price Battle Between Walmart and Amazon
The price gap between Walmart and Amazon is closing. Inflation is high. Problems with supply chains and deliveries continue. It’s critical to work with a reliable merchant services provider to overcome the existing hurdles.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of the best merchant service providers. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.