Walmart trying to close price gap on CPG items

Walmart is trying to close the price gap on consumer packaged goods with its competitors, including Aldi and The Kroger Co.

According to a Reuters report, which cites unnamed vendor sources “with direct knowledge of the matter,” Walmart is running a new price-comparison test in at least 1,200 U.S. stores. The price test was launched across 11 Midwest and Southeastern states, including Iowa, Illinois and Florida, focusing on grocery price competition that accounts for 56 percent of Walmart’s revenue.

Walmart's tests are aimed at finding the right price point across a range of products that will attract more shoppers, and then adjusting prices as needed, the Reuters report states.

Reuters also reported that Walmart met with some of its branded vendors and “demanded” they reduce the cost they charge the retailer by 15 percent.