Shares in U.S. retail chain Walmart (WMT) were worse off today despite trying to spoil Amazon’s (AMZN) October party with its own promotional events.
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Big Deal
The company has launched its Walmart Deals event in competition with the Amazon Prime Big Deals Day as they battle it out for the consumer dollar in a time of economic and political uncertainty in the U.S.
Running through to Sunday, October 12, the Walmart event includes deep discounts on a range of brands such as Dyson, Vizio, Lego, Hot Wheels and Oral-B.
It stresses that deal-hunters don’t need to be Walmart members to take advantage of the discounts as they try and steal some Prime Day thunder.
Industry watchers are anticipating some record-low markdowns on top-rated bestsellers during the Walmart October Deals event. Expect huge discounts (up to 50%) on thousands of big-ticket items like vacuums, smart TVs, home and kitchen appliances, luggage, fashion, furniture, seasonal decor and tech gear.
Blown Away
So what’s on offer? How about a 65-inch smart TV for under $300? An electric multi-cooker, gold earrings and hair dryers? Wow, what an evening that would be!
Walmart is hoping to tap into consumers increasingly looking for value ahead of the holiday season in the States and elsewhere.
A number of recent surveys have pointed to holiday spending by U.S. shoppers being set for its steepest drop since the pandemic.
Value and discount retailers like Walmart and Dollar General (DG) are also likely to benefit from high-flyer customers also trading down due to economic pressures.
Whatever the pressures this year, U.S. retailers will hope that a combination of promotions and the seasonal festive spirit will combine to give their volatile stocks – see above – a boost as 2025 ends.
Is WMT a Good Stock to Buy Now?
On TipRanks, WMT has a Strong Buy consensus based on 29 Buy ratings. Its highest price target is $129. WMT stock’s consensus price target is $114.89, implying a 12.68% upside.
