“Hey Walmart! Y U NO SELL IPHONE FOR THE SAME PRICE AS US?!” Seems to be the cry from many American retailers after the holiday season. The particular incident in question is Walmart’s Facebook page advertisement before Christmas struck. iPhone 5’s were available for $127 on contract, whereas the iPhone 4S was down to $47. But, Walmart was a little sneaky and was in fact publicly advertising a $150 price point, despite actually selling it for $23 less than that.
“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.”
So, Walmart offered a very competitive price, and Best Buy wasn’t happy matching it. But it did anyway. Hmm. Walmart responded by saying that it did have enough stock, and had been working closely with Apple to make it happen. It was strictly first-come first-served no rain-check offer.