Amazon to cut prices on women’s clothing by 10%
Amazon will lower prices on all women’s clothes by 10%, the company said on Thursday, with prices expected to start dropping in July.
The move by the e-commerce giant follows an announcement last week by Walmart that it would raise prices for women’s and men’s clothes to reflect a larger shift in the clothing industry.
The company said the change would not affect its online sales, which have been steady for the past year.
Amazon does not currently have a formal price for women and men.
The Wall Street of late has been awash in fashion sales as shoppers have become increasingly interested in cutting down on spending on apparel.
Amazon also has said it will increase its share of the US apparel market by 15 percent next year, bringing it closer to the 40 percent share that Wal-Mart is expected to claim in 2019.
Walmart is expected by analysts to have $16.8 trillion in annual sales and $2.5 trillion in profits.