Bill Simon, CEO of Walmart U.S. from 2010 to 2014, gave an insightful interview with CNBC on Monday in which he talked about the recent change in retailer pricing strategies.
Inflation, among other factors, is hampering retailers’ ability to offer bargain prices, Simon said. This has resulted in some retailers changing their price promotions. You can see the signs when you enter mass merchants’ stores, Simon said—if you pay attention.
“They usually say, ’50-inch TV, $199,’ or something like that. And now they say, ’50-inch TV, 40 percent off.’ You use percentages when you’re not real proud of your price point,” Simon observed.
