Current:Home > InvestWalmart is shifting to digital prices across the chain's 2,300 stores. Here's why. -Aspire Money Growth
Walmart is shifting to digital prices across the chain's 2,300 stores. Here's why.
View
Date:2025-04-15 09:50:41
Walmart shoppers will soon be checking prices on electronic shelf labels, with the nation's largest retailer saying it will shift to digital price technology from its current paper stickers throughout its 2,300 U.S. stores by 2026.
Walmart stores have more than 120,000 products on their shelves, each with an individual paper price tag. Each week, Walmart workers add price tags on new items, rollbacks and markdowns, a time-consuming and repetitive process.
The digital shelf label technology will allow Walmart employees to update prices with a mobile app, rather than walking around the store and swapping out paper tags by hand. What used to take a Walmart employee two days will now take a few minutes to complete, the company said.
The transition "represents a significant shift in how I, and other store associates, manage pricing, inventory, order fulfillment and customer interactions, ensuring our customers enjoy an even better shopping experience," Daniela Boscan, a Walmart employee who took part in testing the technology at a Walmart in Grapevine, Texas, said in a news release.
No plans for surge pricing
Walmart told CBS MoneyWatch that it would not use the technology for dynamic or surge pricing, when retailers or other businesses quickly change the cost of products or services based on fluctuations in demand due to weather, traffic or other issues.
"It is absolutely not going to be 'one hour it is this price and the next hour it is not,'" Greg Cathey, senior vice president of transformation and innovation at Walmart, said in a statement.
Wendy's in February came under fire in announcing plans to use dynamic pricing, but sought to reassure patrons it would be used to offer discounts and not to hike prices when demand is high.
"I do not think we will see Walmart introduce dynamic pricing anytime soon," Neil Saunders, managing director of GlobalData's retail division, told CBS MoneyWatch. "A lot of shoppers use Walmart because it has low prices, and Walmart has worked very hard to establish trust with the customer," said the analyst, noting that might be jeopardized if people saw the retailer's prices fluctuate sharply.
The main reason Walmart is switching to digital price tag is to cut costs, Saunders said, noting the substantial labor hours associated with manually changing prices on so many products across thousands of stores.
Walmart concurred with Saunders' assessment, saying "this efficiency allows associates to spend more time attending to customers and ensuring their needs are met, thereby elevating the level of customer service at the stores."
- In:
- Walmart
Kate Gibson is a reporter for CBS MoneyWatch in New York, where she covers business and consumer finance.
veryGood! (65)
Related
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- If Mornings Make You Miserable, These Problem-Solving Finds Will Help You Get It Together
- Will 'Blank Space' chant continue after Sydney on Eras Tour? Taylor Swift's team hopes so
- Single-engine plane crashes at a small New Hampshire airport and no injuries are reported
- Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
- Everything you need to know about solar eclipse glasses, including where to get them
- What caused the AT&T outage? Company's initial review says it wasn't a cyberattack
- Biden is summoning congressional leaders to the White House to talk Ukraine and government funding
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- From 'The Holdovers' to 'Past Lives,' track your Oscar movie watching with our checklist
Ranking
- Global Warming Set the Stage for Los Angeles Fires
- Takeaways from South Carolina primary: Donald Trump’s Republican home field advantage is everywhere
- SAG Awards 2024 Winners: See the Complete List
- 3 killed in Ohio small plane crash identified as father, son and family friend heading to Florida
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Chemours and DuPont Knew About Risks But Kept Making Toxic PFAS Chemicals, UN Human Rights Advisors Conclude
- The Swiftie-hood of the traveling jacket: 'Dave's Jacket' travels to 46 Eras shows
- Atlanta Hawks All-STar Trae Young to have finger surgery, out at least four weeks
Recommendation
What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
3 killed in Ohio small plane crash identified as father, son and family friend heading to Florida
Video shows 7 people being rescued after seaplane crashes near PortMiami: Watch
Ayo Edebiri Relatably Butchers 2024 SAG Awards Acceptance Speech
Meta donates $1 million to Trump’s inauguration fund
Star Trek Actor Kenneth Mitchell Dead at 49
Arizona sector becomes No. 1 hotspot for migrant crossings, despite border walls and treacherous terrain
Billie Eilish autographs Melissa McCarthy's face with Sharpie during SAG Awards stunt