Staples Rears Its Head: Plans to Match Amazon’s Prices
Staples Inc. (NASDAQ:SPLS) sets its eyes on Amazon (NASDAQ:AMZN) in the spirit of a little holiday competition. In an announcement made Thursday, according to The Boston Globe, Staples said it would match the prices of Amazon’s products in purchases made both online and in stores as of November 3.
“We’re the second largest e-commerce player after Amazon, and that’s part of the reason why we’re matching them … As far as we’re concerned, they are the leader. We’re battling with them to try to get closer,” said Alison Corcoran — Senior Vice President of North American stores and online marketing — adding that this move is part of a large plan for restructuring that began a year prior.
The promotion will notably not be applicable to sale offers extend during Black Friday or Cyber Monday. Even so, a boost in sales is likely for Staples in the coming months. This should help bring in additional revenue during the rest of the coming holiday shopping season.