“Best Buy said some of Wal-Mart’s promotions, including a deal on the iPhone 5, had a measurable effect on its profits due to a price-match guarantee that requires the retailer to match the price of competitor’s ads,” Zimmerman and Banjo report. “Best Buy said it lost about $65,000 in profit the day Wal-Mart’s promotion first ran on Facebook, because it was compelled to match Wal-Mart’s advertised $150 price, even though it concluded that Wal-Mart didn’t actually have a sufficient number of iPhones available.”
Zimmerman and Banjo report, “[Walmart] said it shipped double the amount of iPhones during the promotion and that it was 98% in stock at stores that carried the devices. Wal-Mart declined to say how many iPhone 5s its stores carried during the promotion.”
Read more in the full article here.
[Thanks to MacDailyNews Readers "Fred Mertz" and "Lynn Weiler" for the heads up.]
Walmart offering Apple iPhone 5 for $127, iPhone 4S for $47, iPad (4th gen.) for $399 – December 14, 2012