The world's largest retailer plans to take on Amazon this holiday season by throwing more than 20,000 parties at its stores. Fred Katayama reports.
Wal-Mart is taking on Amazon where its Internet archrival doesn't have a presence: throwing parties at its stores. It'll try to get more customers to visit its gigantic Supercenters by hosting more than 20,000 holiday parties, where kids can play with hot toys and take selfies with Santa. The world's largest retailer is also bolstering its online offerings. It says it tripled its online selections for the holidays to 60 million items. It'll also provide free two-day shipping and discounts for items ordered online for later pickup at its stores. And it'll add more exclusive products online and at its physical stores. Reuters correspondent Nandita Bose. SOUNDBITE: NANDITA BOSE, CORRESPONDENT, REUTERS, (ENGLISH) SAYING: "A very clever and an unused tactic that a particular retailer has employed. We haven't seen retailers think about their stores and website as wholistically in the past because most of the offers would be limited to just their website and the online deals they would offer." The retailer says it's focusing more on discounts and low prices and less on big deals because consumers like consistent pricing. Wal-Mart shares, which are on a tear this year with a 27 percent return this year, gained further ground in Wednesday morning trading.