Stood out among grocers for dramatically cutting prices
(FOX BUSINESS) – While Walmart is still seen as the price leader in the grocery industry, its rivals aren't far behind. In a recent report, Telsey Group analyzed online grocery prices across seven retailers including Walmart, Target, Amazon Fresh, Kroger (King Soopers), Albertsons (Safeway), Sprouts and Whole Foods (via Amazon) in Denver. Analysts specifically looked into 40 key items across two categories, including "several premium items."
Telsey Advisory Group Senior Managing Director Joe Feldman told FOX Business that Kroger and Target, which usually trade off in the number two spot, have slightly "narrowed the gap with Walmart" and are less of a price premium to the Arkansas-based retailer than they used to be.
In June 2023, Target and Kroger were at a 14% to 15% premium to Walmart. Today, that figure is sitting around 6% to 7%. However, what's even more interesting, according to Feldman, is the price drop at Amazon Fresh.
