Report: Walmart eases price cuts for third-party sellers
Walmart is reportedly subsidizing discount prices offered for some items on Walmart Marketplace.
According to Bloomberg, Walmart is temporarily lowering the price paid by consumers for select merchandise sold on its marketplace site. In an effort called the Competitive Price Adjustment Program, third-party sellers pay Walmart a fee to list their products on its marketplace.
However, Walmart has confirmed to Bloomberg that sellers will still receive the previously advertised full price, with the discounter paying them the difference. Walmart sellers cannot request to be part of the Competitive Price Adjustment Program.
This program is seen as a competitive strike against Amazon, which controls the prices on its own Amazon Marketplace third-party e-commerce platform and pressures sellers not be undercut by Walmart or other online retailers. The Federal Trade Commission (FTC) has reportedly been investigating Amazon for potential antitrust violations, including in how it operates Amazon Marketplace.
To read the full Bloomberg article, click here.