UPDATED: Wal-Mart's Savings Catcher goes nationwide - The Packer

UPDATED: Wal-Mart's Savings Catcher goes nationwide

06/05/2014 03:09:00 PM
Pamela Riemenschneider

(UPDATED June 6) Wal-Mart Stores Inc. is giving consumers a reason to triple-check their receipts. At its annual shareholder meeting, the Bentonville, Ark.-based company said it will take its Savings Catcher program nationwide this summer.

Along with the geographic expansion is a plan to add more produce items to the price comparison tool.

“Currently, we already match (packaged produce) within the Savings Catcher,” said Molly Blakeman, a Wal-Mart spokeswoman. “It includes bagged salads and things like that. The addition will include weighted produce compared to local leading retailers’ advertised prices.”

Wal-MartThe Savings Catcher, tested in a few select markets over the past few months, allows consumers to enter their receipt number and date of purchase into the website or Walmart’s mobile app. Through the proprietary technology, receipts are checked against local competitors’ advertised prices, giving customers an eGift Card for the difference when a competitor’s price is lower.

This is a low-risk, high-reward opportunity for Wal-Mart, said James Tenser of Tucson, Ariz.-based VSN Strategies. It’s a lot of data to handle, Tenser said.

“That’s still a mere fraction of all the items in the store, even all the promoted items in the store,” he said. “That makes it manageable and a wonderful basis for a low-price claim for Wal-Mart.”

The pool of consumers who actually take the time to enter their receipts also is limited, he said.

“Only a certain amount will enter their receipt,” he said. “On the other hand, think of the data, even the partial presentation that this brings to Wal-Mart. It’s loyalty card data without the loyalty card. It’s a treasure trove. No one has the quantity of transactions that Wal-Mart has.”

The nationwide rollout is expected over the next few months, Blakeman said.

Future developments for Savings Catcher include adding features to allow consumers to upload receipts to find the lowest price available in their area for items purchased as well as integrate eReceipts with eCoupons and automated shopping lists.

“We are going to win by integrating digital and physical,” Duncan Mac Naughton chief merchandising and marketing officer for Wal-Mart U.S., said in a news release. “Savings Catcher and its expanding capabilities are just one example of that. We are well-positioned to innovate and lead in the tech space, and you’ll see more of this.”



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Produce Guy    
Texas  |  June, 06, 2014 at 09:27 AM

When the best idea that you can come up with to increase sales is to give away even more stuff, you have a problem.

TNM    
Boca  |  June, 06, 2014 at 03:35 PM

Amen to that comment... I'd rather pay more & deal with people & better presentation, than to hope to pay less on a couple of things & have to wander aimlessly to find what I need to buy vs. what I want...

Alan    
US  |  June, 06, 2014 at 06:38 PM

What Walmart's low prices mean is "EVEN LOWER RETURNS TO GROWERS" while the retailer maintains its high margins. Americans should know better. A half of the population thinks they save at Walmart, when the reality is that ALL US TAXPAYERS subsidize the cost of healthcare on Walmart's labor, because the salaries they pay to their employees is not enough to live with dignity. If you haven't seen it before, check out this link: http://www.upworthy.com/the-shocking-truth-about-what-it-would-cost-us-all-if- walmart-paid-living-wage?g=3&c=ufb1

val    
VA  |  June, 07, 2014 at 06:15 PM

I have worked for Wal-Mart for 14 years and I make enough to support my family with my income alone. Wal-Mart starts out higher than minimum wage. They are not required to do that. They also give us quarterly bonuses, have excellent dental and medical coverage. Wal-Mart is a great company and cares about its associates. I wish people would quit bashing them just because they are the #1 retailer in the world. Others are just jealous!!

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