Walmart’s Jet.com Launches First Campaign Of The Holiday Price Wars
Much of the country is suffering through an unusually late heat wave but some retailers are already trying to get shoppers in the holiday shopping mood. Online retailer Jet.com, part of Walmart, said on Monday that customers would get 5% cash back on orders made between Sept. 18 and Oct. 29 and be able to apply the credit to holiday season purchases as of November 13, about when Black Friday and Cyber Monday sales will be in full swing. Customers can accumulate and redeem a credit, called “JetCash,” of up to $50. The move is a first salvo in the coming price wars and signals that Walmart, as well as its competitors, will once again compete aggressively around the most important quarter for retailers. Target recently announced thousands of price cuts heading into the Thanksgiving-to-Christmas period. While Walmart or its subsidiaries don’t operate loyalty programs, the jet.com move is straight out of the playbook of many such programs, something jet.com acknowledged. “This effort rewards our loyal customers with some cash towards their holiday shopping and also attracts new shoppers,” Jet president Liza Landsman said in a statement. Read more at Fortune.
